NEWS!?: Insurance fails to instill trust


The insurance sector has trailed third from bottom in a survey revealing what the ‘well-informed’ members of the UK public trust in business.

Insurance fails to instill trust This news is hardly going to shock anyone outside or inside the industry but there are some other interesting titbits I have extracted for your consideration:

  • Insurance only fared better than banks and media companies, which scored 21% and 23% respectively
  • Technology gained pole position with 74%
  • For the first time the annual survey…sampled 4,875 ‘informed publics’ in two age groups – 25-34 and 35-64 – in 22 countries…found transparency, ranking top in the UK at 64%, was more important to reputation as the quality of products and services.

NO TRANSPARENCY NO TRUST…

Banks can bankrupt nations, destroy businesses and families yet INSURANCE IS VIEWED AS ONLY MARGINALLY BETTER!

And that is without customers being aware of the shameful truth about the level of commission earnings enjoyed by some. The truth is that their business models cannot afford transparency but for how long can the industry afford not to be transparent!!?

If you would like to take a look at the “UK highlights”? Click on link: UK Highlights

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