Description

With the confirmation that the UK economy shrank between July and September – and that the contraction was worse than originally estimated – the country is edging closer to a recession in 2023.

This has led to speculation among insurance companies on how the great cancellation will impact the personal lines sector as people potentially cut back on expenditure and decide to buy stripped back products, not renew policies or look at other ways to manage their finances.

What is evident is that with margins likely to be squeezed further by the socio-economic conditions and strains on the supply chain, the personal lines insurers that manage to make even the smallest of gains and best utilise digital journeys will likely be the ones who maintain profitability and keep customers happy.

With this in mind, Insurance Post in association with PayPal would like to invite you to watch our exclusive webinar, where an expert panel will discuss how personal lines insurers can continue to delight and satisfy policyholders despite the difficult economic environment.

Questions we will seek to answer

• What personal lines products might be most impacted by any moves by customers to make savings and how?
• If we expect the difficult socio-economic environment to test the loyalty of policyholders, how important is trust?
• What can insurance companies do to retain and attract customers?
• In terms of meeting customer expectations, how do you see ‘frictionless’ digital journeys evolving?
• Will there be a divergence between customers seeking stripped back vanilla products and those demanding greater personalisation?
• How might insurance companies look to help potential customers around payments and the ease with which they begin the insurance journey?
• What do consumers expect from digital payments, and how might their needs evolve?
  In what ways can slicker and greater payment options help conversions among potential customers?