Table of Contents:
The perception of bancassurance among Italians
According to a survey conducted by EY in collaboration with SWG, bancassurance is gaining ground among Italians, but knowledge of the sector remains limited. Only 37% of respondents have ever heard of the possibility of buying insurance services at a bank. This data highlights a lack of information that could hinder the growth of this business model. Despite this, 63% of respondents are aware of such services, even though 28% have only superficial knowledge
.
Protection tools and savings
The research has revealed that 45% of Italians consider bank savings as the main tool of protection for the future. Death and disability insurance follow, but are perceived as too expensive by almost half of the respondents. Other popular tools include pension funds and a solid family network, both at 28%. This scenario suggests that, despite the awareness of the importance of planning, many Italians feel dissatisfied with the options available
.
Italians’ concerns
Italians’ main concerns concern disability and job stability. 55% of the interviewees fear disability, a feeling particularly strong among young people, where the percentage rises to 60%. The elderly, on the other hand, worry about their lack of self-sufficiency and the burden they could represent for their loved ones. These anxieties highlight the need for more accessible and understandable insurance solutions that can meet the needs of
a changing population.
Care services and trust in the sector
Another interesting aspect that emerged from the survey concerns health-related care services, such as telemedicine and the booking of specialist visits, which affect 45% of customers. However, claims management is seen as a critical area, with 75% of respondents considering traditional insurance companies to be more efficient than banks. In addition, trust in financial institutions remains low, with an average score of 5.1 out of 10. This scenario indicates that, to improve consumer confidence, it is essential that banks and insurance companies work together to offer more transparent and accessible services
.
The future of bancassurance in Italy
Despite the challenges, bancassurance presents significant opportunities, especially among young people. 42% of respondents between the ages of 25 and 34 say they are willing to subscribe to an insurance product through a banking channel. This data suggests that, if institutions are able to effectively communicate the benefits of bancassurance, they could attract a younger and more aware audience. According to Nicola Panarelli of EY, it is essential that the sector focuses on this target to ensure sustainable growth
in the future.
