Yes, we're ready to buy insurance online, 85% of young lebanese say!
Buying an insurance is not the simplest thing in life… and that's maybe why so many young people don't really interact with insurance companies or their products. Before launching the Comin App, we decided to ask different groups of young Lebanese what they think about insurance in general. Here are the 5 lessons we learned from our study!
Lesson #1 - Online is the new way!
85% of our sample actually consider buying their next insurance products online. They asked for a simple process, a seamless experience and relevant products. They wanted a secure payment system and instant paperless delivery. Forget about the old ways, the connected generation has no time to lose anymore with endless paperwork and waiting lines.
Lesson #2 - We want reliable, not cheap!
When you buy an insurance product, you want to end up with that pleasant feeling that whatever happens, the insurance company is backing you up for real. Respondents, at more than 80%, don't want to deal with a small startup or a low cost version of an insurance company. They want the real thing and they're ready to pay for it. At least the fair price, to be covered in case something happens.
Lesson #3 - It's all about innovation and connectivity.
The connected generation shows no interest in old fashioned ways of purchasing insurance. They ask for the one-stop shop, all insurance products accessible and manageable at the same place, in real time, when needed. They're ready to connect, connect their devices to feed data to their newly designed insurance products. They understand that the future is here and data is everywhere. Better control it with personalized online interfaces than leave it to obscure algorithms.
Lesson #4 - We love insurance, we want insurance to love us!
95% of our sample say they really like their insurance company and this is great news for them. People tend to think that most users are not fond of their insurers. They also think that purchasing an insurance is a waste of time and money. Well, it looks like they're wrong! But insurance customers also ask for respect! They want simple, fast, convenient processes, transparency and innovative products.
Lesson #5 - Give me peace of mind, because I care!
Travel, motor, pets, homes, all of our insurance products were tested in the survey. And the answer is clear: Respondents want simple, light, easy-to-understand insurance products, for their connected lifestyle. They want to be able to purchase products on the go, when they need them: at the airport while waiting for their flight to take off, at the car dealership while signing their new car contract, or at the pet shelter while adopting a young puppy. They care for what they have and what they love.
This is why, at Comin, we’re driven to provide connected people with the most convenient experience: buying an insurance product should not stop us from doing what we like! Information is clear, accurate, with no fine prints or hidden catch. Prices are adapted to your lifestyle and you can choose among a comprehensive range of insurance products, tailored to your needs.
We also teamed up with one of the most experienced insurance company in Lebanon, Commercial Insurance to guarantee the highest standards in quality of service.
We listened. We designed, We delivered.
Enjoy Comin, the new way to get insured. Simply. Now.
The study was performed by Comin during October 2018, with different groups of young lebanese, from 18 to 35 year-old, from various backgrounds and economic situations. The total offline sample was of 90 persons and the online sample was 200 persons, all lebanese (50% men. 50% female).