Insurance clients have been increasingly turning to brokers in the hiring process.
According to the data released, insurance customers have been seeking more information about the various options in the market, resorting to insurance brokers before making the decision to take out insurance. Learn about the relevant data and how an insurance broker works.
Want to take out insurance? Also turn to a mediator: The Poupança no Minuto provides this free service, which supports you throughout the contracting process, so you can find the best market conditions for your product.
More than 50% of insured customers used brokers in the hiring process.
According to data from the report of the 4th Survey on Financial Literacy of the Portuguese Population 2023, during the National Financial Education Plan, disclosed by the National Council of Financial Supervisors (CNSF) and cited by Eco, over half of insurance customers claim to have used recommendations from specialized entities for contracting.
Around 43.8% of respondents in this survey claim to have insurance as financial products in Portugal, and this proportion has been growing since 2015 (falling in 2020, but slightly rising again last year).
Two interviewees who already hire online financial products, 57% affirm that they have been safe, data resulting from the increasing investment in the digitalization of distribution channels
But it is worth mentioning that there has also been a decrease in insurance knowledge since 2015. In that year, 98.7% of the interviewees knew what insurance was, which has decreased to 86.6% in 2023.
The most recently contracted financial products were the MBway functionality, by 22.4% of the respondents, followed by insurance, by approximately 16.2% of the respondents.
It is important to note that more than half of these insurance customers (52%) said they had sought information about their options in different insurers before deciding, using specialized entities - insurance brokers - for recommendations that ended up influencing their choice in contracting the final insurance product.
This study was conducted with 1,510 valid interviews, door-to-door, between January and February 2023. The report in question shows answers to each question of the survey, with variables of socioeconomic characterization or answers to other questions compared with responses obtained in previous surveys on financial literacy.
The interviewees aged between 40 and 54 years, men, workers, with higher education, and a monthly net income of the household above 2,500 euros are the ones who hire insurance products the most. On the other hand, interviewees aged between 16 and 24 years, women, students, with no formal education, and with incomes up to 500 euros are the ones who hire insurance the least.
What does an insurance mediator do?
In the end, an insurance mediator, such as Poupança no Minuto, aims to facilitate the entire process of contracting this product.
Dealing with all the bureaucratic aspects for the client, an insurance mediator will collect various proposals from different insurance companies and help you in making a decision on the one that best suits you. They will negotiate with the insurance companies for personalized products for you, according to the coverages you need, and find the best market conditions for your preferences.
And all this mediation service with insurance companies is free! For the customer, it is a simplification of the entire process, saving them from headaches, saving their time, and helping them save money.
If you need this service, rely on the full and constant support of Poupança no Minuto! Contact us here so we can start your process: