Blog: Is tech really the solution for underinsurance?

disruptive technology

As we move into an even more digital world, with some insurance quotes and policies being completed strictly online, which would better help address underinsurance: re-introducing human contact or using even more new tech? Rosie Simms weighs up the arguments.

In June 2023, Ecclesiastical revealed that 77% of brokers believe there is a problem with underinsurance in the high-net-worth market – up five percentage points from 2022.

The insurer noted the top three reasons why brokers think HNW clients are underinsured: lack of awareness of the huge rise of rebuild/repair costs, out-of-date valuations, and lack of awareness of the value of buildings/contents.

The top five were rounded out by inflation and clients not wanting to pay higher premiums.

Clients

La

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

My Insurance Downtime: Clear Group’s Dawn Dalby

Clear Group’s Dawn Dalby offers us a window into her life outside of insurance including her addiction to Married At First Sight, becoming a fan of Jeffrey Archer during jury service when 19 and a preference for winter comfort food.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: