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What Consumers Want: General Insurance, Life Insurance and Pensions in South Africa 2010
Datamonitor, March 2011, Pages: 138
Introduction
This slide deck provides direct answers to the important questions regarding consumers’ behaviour towards Financial Services products. This series of reports provides country specific data, set against a global backdrop, to ensure the reader knows What Consumers Want in their area of Financial Services.
Features and benefits
- The brief highlights the key findings of The FS Consumer Insight survey for the general insurance, life insurance and pensions markets.
- Answers to key questions are provided such as product penetration, channel of choice, reasons for product & provider choice and important attributes.
- The slide deck also presents data across income and age groups to strengthen and deepen insight, ensuring analysis is relevant to every sector.
Highlights
- In South Africa holding of car insurance, health insurance, and home/contents insurance is higher than it is on average globally. A total of 67.7% of South African consumers hold car insurance, 55.7% health insurance, and 48.7% home/contents insurance.
- The broker/financial advisor channel is strong in South Africa for consumers purchasing life insurance products. A total of 62.8% of consumers used this channel when purchasing term life insurance, and 68.4% when buying income protection.
- The majority of South African consumers purchase their pension through an advisor (52.3%). Just over a third of consumers opened their pension through an employer; on a global scale, this is the most popular pension channel.
Your key questions answered
- This slide pack provides data essential for FS providers wishing to better understand the needs and demands of their customers.
- Uncover white space opportunities across geographies, product sectors, channels and technologies.
- Better understand the 'size of the prize' dictated by consumer choice and verify or challenge internal assumptions via an independent source.
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