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IE Staff
Canadian consumers like the idea of receiving more personalized insurance pricing and services but they’re not so sure about trusting insurance carriers with their data, according to a recent Accenture report.
Drawing on the results of its Global Insurance Consumer Study, Accenture’s research team found almost seven out of 10 Canadian consumers (67%) said they would share data relating to their health and exercise habits in exchange for personalized pricing on products including life, long-term care and disability insurance. Only 59% of Canadian respondents said the same in the 2019 report.
“Given consumers’ openness to share their personal data in exchange for tailored programs and lower prices, there is a unique opportunity for insurers to unlock new insights and create better, more relevant services,” said Tim Hoying, insurance consulting and strategy lead at Accenture in Canada, in a release.
Staff
Canadian consumers like the idea of receiving more personalized insurance pricing and services but they’re not so sure about trusting insurance carriers with their data, according to a recent Accenture report.
Drawing on the results of its Global Insurance Consumer Study, Accenture’s research team found almost seven out of 10 Canadian consumers (67%) said they would share data relating to their health and exercise habits in exchange for personalized pricing on products including life, long-term care and disability insurance. Only 59% of Canadian respondents said the same in the 2019 report.
“Given consumers’ openness to share their personal data in exchange for tailored programs and lower prices, there is a unique opportunity for insurers to unlock new insights and create better, more relevant services,” said Tim Hoying, insurance consulting and strategy lead at Accenture in Canada, in a release.