Additionally, six in ten consumers (59%) say they would also share important data for personalized services aimed at preventing injury and loss, up from 48% in the 2019 report.
Data security concerns
But while consumers are more willing to share their personal data, their concerns about the risk of intrusion and its impact on premiums have increased, while their confidence in their insurers’ ability to process their data has decreased. For example, just under 37% of consumers say they are confident in the ability of insurers to process their data, compared to 45% in the 2019 report.
“Consumers are embracing the trend of using data to set personalized prices and want insurers to reward their efforts to improve their well-being. But with that comes a warning that trust is waning because they want to feel like they are in control of their data, ”said Kenneth Saldanha, director of the global insurance industry at Accenture.
More confidence in people than in machines
Although the COVID-19 pandemic has accelerated the adoption of digital tools, insurers must continue to prioritize services provided by human employees, the survey results suggest. Thus, 61% of consumers trust a human advisor during an insurance claim, while barely 10% trust an automated digital service or a conversational agent (chatbot) in such a circumstance.