Our survey of Italian policyholders found that nearly nine in ten (88%) respondents are willing to share additional personal data in return for a range of benefits. The strongest motivations for data sharing are cheaper premiums and more personalized services. To make the most of this opportunity, Italy’s insurers need to push forward with digitalization strategies, improve data-gathering and put in place modern data management architectures.
“In some respects the Italian insurance market remains traditional, with customers preferring to buy insurance from representatives and focused on value for money. However, our survey of policyholders also reveals a strong desire for more tailored products, with the vast majority of respondents happy to share more personal data to obtain a range of benefits. Speed of servicing, such as the processing of applications and claims, is also a critical factor when choosing an insurance provider. Our results show there is a significant opportunity for insurers to apply digitalization and data-oriented investments to transform processes, improve value for money, and offer their customers a much more seamless and personalized experience. Insurers may need to invest in more modern data architectures and practices, particularly if they want to roll out AI/GenAI enhancements more effectively and safely. However, they can leverage their investments to develop innovative digital and data-led customer-centric products and services, which in turn can be distributed through new partnerships and distribution channels.”
Paolo LaTorre, Italy Managing Partner
METHODOLOGY
Interviews were conducted in Belgium, Brazil, Canada, Greater Bay Area (ex Hong Kong), Germany, Hong Kong, Italy, Malaysia, Poland, Singapore, Switzerland, Thailand, USA and the UK during February and March 2023. Respondents were aged between 18 and 65 years. This was a quantitative study conducted using diverse sampling methodology (social & ad networks). Country representative quotas (location, age and gender) were applied.
