Europ Assistance Survey Highlights Home Insurance Opportunities

People need hybrid Business/Contents cover, Cyber protection, Healthcare plans that offer virtual consultations and more;

Europ Assistance (“EA”) has announced the findings of their first “Live and Work Well at Home” survey, which was conducted by Lexis Ricerche through a 20-minute quantitative questionnaire in four western European countries: Germany, France, Italy and Spain. EA set out to examine people’s new work and lifestyle habits since the start of the Covid-19 pandemic and evaluate the new kinds of support and services requested to address these changing trends.

Andrea Fiorani, Head of Personal Lines at Europ Assistance: “It is no surprise that Covid-19 completely changed the habits and lifestyle of pretty much everyone around the globe. The height of the pandemic was an incredibly tumultuous time filled with uncertainty and adaptability, and it continues to be. In certain ways, the pandemic changed things for the better, like the ability to conduct everyday tasks and appointments from home. This survey allowed us to get a deeper understanding of this ongoing change and its impact on consumers’ needs and on the way we can address them. I was particularly surprised to find that only 20% of workers are satisfied with their regular remote work, and about the growing concerns around physical and mental health. It was also interesting to see how countries that were more or less severely hit by Covid now reflect these differences in people’s behaviours. This gave us a better understanding of the current desires within the assistance market, and ways to adapt to them.” 

HOME is the new centre of our lives 

  • 47% of people surveyed now regularly work from home, slightly higher in Spain (51%) and slightly less in Italy (40%).
  • 50% of people find it difficult to balance their time at home (working from home with family members being around, taking care of the home, etc.) with a similar number of respondents in all four countries surveyed.
  • Top 3 concerns related to working from home:
    • Physical wellbeing: 59%
    • Mental wellbeing: 57%
    • Work / life balance deterioration: 53%
  • More than 70% have changed leisure habits and lifestyle aspirations, and more than 80% enjoy free time in a different way focusing on really important things, especially in Spain when compared to Germany.

HEALTH: Remote medical consultation is growing and highly appreciated, and digital health platforms show a high expectation on usage frequency

  • The concern about health is high overall, as 78% of respondents feel more concerned about their health and wellness, with peaks in Spain (92%) and in France (91%).
  • 38% of respondents used a teleconsultation service in the last 12 months. The result is especially high in Spain (68%).
  • 78% of those surveyed like having access to teleconsultations. The top 3 reasons are:
    • Saves time / transport: 51%
    • Easy & simple access to a medical professional: 49%
    • Avoiding going to crowded medical offices (especially after Covid 19): 39%
  • Overall, 65% of respondents have an interest in digital health platforms, and 1 out of 2 would consider in using it at least once a month.

CYBER: as people spend more time online, concern over cybercrime keeps steadily increasing; 30% have been hit personally or in their close network

  • Compared to Europ Assistance 2019 Cyber Barometer, Europeans are feeling much more worried about cybercrime (phishing, fraudulent emails, virus/malware infection, cyber bulling…) in 2021. 64% found themselves really or somewhat concerned, up +19 pp vs 2019. This trend seems common all across the continent, even if the percentage of people concerned significantly differs from Germany (52%) to Spain (79%) as an example.
  • Cyber protection solutions also know a significant rise in positive perception, with 70% of European having a good or excellent opinion of this service for them and for their family (+16 pp vs 2019). Italy is the surveyed country with the most positive perception (80%) and the most significant increase vs 2019 (+ 20 pp).
  • Top 3 preferred cyber protection features:
    • Financial protection (financial indemnity (up to 10 000€) to help you bear the consequences of a cybercrime): 72%
    • Device protection (a software suite and a mobile app to protect your devices from most sophisticated cyberattacks): 72%
    • Incident resolution services (24/7 access to cyber resolution specialists to help you deal with any concern related to your online activities, virus/malware infection, loss of data, attempt to your online reputation…): 71%
  • The presence of a cyber protection service is quite impactful in the decision to buy or renew a service or an insurance policy, 68% of respondents say it can be really or somewhat influent, especially in Spain (79%) and in Italy (76%).

Survey Methodology

The survey is a quantitative study carried out in Germany, France, Italy, and Spain through a 20 min questionnaire.1600 interviews were conducted, 400 per country. The fieldwork was carried out in August 2021.

 

About alastair walker 7450 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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