What Consumers Want from General Insurance in Singapore: A Wish List for Intermediaries

[This article was generated by Meta AI and has been edited by the Surer team for clarity, readability and context.]

In Singapore, consumers are savvy and discerning when it comes to general insurance.

They expect more than just a policy – they want personalised service, convenience, and value for their hard-earned dollars.

As general insurance intermediaries, it’s crucial to understand what consumers want and how to deliver it. Let’s dive into the wish list!

Simplified Processes

Consumers want easy-peasy experiences. They crave streamlined processes, minimal paperwork, and quick claims settlements. Intermediaries, take note! Invest in digital solutions and automation to make life easier for your clients.

Personalised Solutions

One-size-fits-all policies are so last season. Consumers want tailored coverage that addresses their unique needs and risks. Intermediaries, get to know your clients and offer bespoke solutions that make them feel special.

Transparent Communication

Consumers hate jargon and love clarity. They want straightforward explanations, regular updates, and no surprises. Intermediaries, ditch the insurance-speak and communicate in plain layman terms.

Omnichannel Access

Consumers are digital natives, and they expect to interact with you whenever, wherever. Provide seamless experiences across online platforms, mobile apps, and good ol’ human interactions. Intermediaries, embrace the omnichannel revolution!

Value-Added Services

Consumers want more than just a policy – they crave value-added services like risk assessments, claims assistance, and expert advice. Intermediaries, up your game by offering these extras and demonstrating your worth.

Competitive Pricing

Let’s face it – consumers love a good deal! They compare prices, seek discounts, and expect fair premiums. Intermediaries, stay competitive by giving yourself (and in turn, the consumer) access to more quotation options.

Claims Efficiency

When disaster strikes, consumers want swift and hassle-free claims processing. Intermediaries, prioritise efficiency, and make sure your clients receive prompt support and payouts.

Customer-Centricity

Consumers want to feel loved and cared for (who doesn’t?!). Intermediaries, focus on customer-centricity, and show your clients you genuinely care about their well-being and satisfaction.

Innovative Products

Consumers are open to new ideas and emerging risks like cyber insurance and sustainability-related coverage. Intermediaries, stay ahead of the curve, and offer innovative products that address evolving needs.

Trust and Expertise

Last but not least, consumers want trusted advisors who know their stuff. Intermediaries, invest in professional development, and demonstrate your expertise to earn client loyalty and trust.

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By simplifying processes, personalising solutions, and prioritising customer-centricity, you’ll win hearts and minds (and policies!). Embrace innovation, stay competitive, and show your clients you care – that’s the secret sauce to success in the general insurance industry!