Just one in five customers across the United States, the United Kingdom, France, Germany, Italy, Japan and Switzerland consider insurers trustworthy
Consumers with a low sense of trust exhibit are flighty. Brands must compete on price, leading to wafer-thin mark-ups on policies with budget-grade coverage.
Insurance is vital for a happy society. Trust the foundation stone of insurance. If providers can not address the crisis in trust, they will continue to fail consumers, and risk being replaced by rivals who can.
“You can have all the facts and figures, all the supporting evidence, all the endorsement that you want, but if you don’t command trust, you won’t get anywhere.”