Page 283 - India Insurance Report 2023- BIMTECH

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3.1.3. Relevance and Engagement

The data discussed in the previous two sections are not independent of each other. As shown in
Figure 5, there is a clear correlation between how relevant respondents consider sustainability to be, by
itself, for their next insurance purchase and how engaged they perceived their insurance company to be
in these issues. This can be explained either by insurers communicating their engagement effectively
with groups who value this engagement most, or by customers seeking the information they deem most
relevant for their purchase.

Figure 5: Relative perceived engagement of own insurance company vs. relative percentage deeming
sustainability as very important for the next insurance purchase by age cohort and gender

Also of interest are the differences in age and gender. Gender plays no difference in the aggregate
along either dimension, while age seems to have a sensible impact. However, again, here does not seem
to be a simple detectable trend by age.

3.2.Results by Area of Engagement

Customer sentiment towards six areas of potential engagement by insurers was also evaluated. The
scores, listed by the importance customers give to each area are listed in Table 2. Protecting Data
privacy is considered most important by a relative wide margin, while e-Mobility ranks last. However,
all areas of engagement score considerably better than the middle point of the possible answer range,
which was a “3.” All areas of engagement are also relevant for the next insurance purchase, are linked to
sustainability and customers view their insurers as engaged in these areas. Customers are also able to
distinguish among the areas of engagement, although these distinctions become less clear for relevance
for purchase and link to sustainability once the answers on Data are removed from the analysis.