Online Payments Should Be Smooth, But the Reality is Slightly Different

For insurance brands a smooth online payment experience, that’s also secure, is a must. But the reality is often different for UK policyholders. Here are some insights for you;

Recent research has highlighted the state of payment experiences in the insurance industry, with the sector encountering substantial gaps that threaten customer satisfaction and loyalty.

The Payment Experience Index, developed by payment solutions experts Access PaySuite, part of The Access Group, analysed 160 businesses across 16 sectors using TrustPilot data, calculating a Trust Discrepancy Score for each sector to highlight which are excelling and which are struggling to meet consumer expectations.

It identified the insurance industry as one with a moderate Trust Discrepancy Score of 24.8. While not among the best-performing sectors, the findings indicate opportunities for businesses to enhance their payment processes and strengthen customer loyalty.

As consumer expectations evolve, businesses in the insurance industry face increasing pressure to offer seamless and reliable payment solutions. While the sector is performing better than some of its peers, outdated systems and limited payment options may be hindering its ability to fully meet customer needs.

* The Trust Discrepancy Score quantifies the gap between how customers rate a business overall and how they specifically rate its payment processes. A smaller score signals better alignment with customer expectations.

Commenting on the findings, Dave Carr, transformation director at Access PaySuite, said:

“In 2025, the sectors leading in payment experiences will be those that prioritise seamless, secure, and customer-centric solutions. Our Payment Experience Index demonstrates that businesses embracing innovation in payment technologies are not only meeting customer expectations but redefining them. This is about more than just enabling transactions – it’s about creating a smooth, transparent, and reliable experience that builds trust and fosters loyalty.

“Industries that adapt to evolving consumer demands for flexibility, personalisation, and speed are positioning themselves as leaders in their fields. Conversely, those that fail to modernise their payment systems risk eroding customer satisfaction and falling behind competitors. At Access PaySuite, we believe that seamless payment experiences are the cornerstone of exceptional customer journeys, and we’re committed to helping businesses unlock their full potential through smarter, more intuitive payment solutions.”

For more information, you can view the full research here https://www.accesspaysuite.com/blog/which-sectors-offer-the-best-payment-experiences/