31/03/2023
Curious about what makes people buy an insurance policy?
Here's an interesting finding that gives us insight.
Almost 59% of the Indian population fears the surging cost of medical treatments. Additionally, 59% of individuals have expressed concerns about the instability of their jobs, while 58% are anxious about their health or their family's well-being. These are the top 3 factors that influence insurance purchases.
Indians majorly buy insurance to manage medical costs, job insecurity, and health concerns, provide financial protection, future planning, and legal or employment requirements.
Realizing the importance of having a strong financial base in these uncertain times, 3 out of 4 Indians have increased savings/investments since Jan'21, 50% for either saving, investing or buying insurance.
We thank SBI Life Insurance Co. Ltd. for conducting the Financial Immunity Survey 2.0 with NielsenIQ and helping us decode the evolving behaviour of Indian consumers towards physical and financial immunity.
Comment below if your customers follow a similar pattern.
to gain more insights.
