Analysis: The challenge to build back better – as trust in insurance drops

Angry to happy faces_for CMS

Consumer trust in insurance has fallen over the past 12 months, but experts can see a route to a brighter future. Emmanuel Kenning reports.

Exclusive research for Insurance Age by Consumer Intelligence has revealed another fall in the public’s trust in the insurance industry.

The survey asked 1055 adults about the change in their sentiment towards the sector over the past 12 months, and 11% detailed having less trust in the industry compared to 3% having more trust (see graph, below).

The age group with the biggest increase in positivity was the 25-34 year old bracket, where 11% of respondents reported enhanced trust. The cohort

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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