NAILBA Perspectives Virtual Symposium Special Edition | Page 11

Consumer confidence in insurance companies
When asked about specific types of insurance companies, consumers report the
highest levels of confidence since LIMRA started asking about these sectors in 2012.
Consumers with an “extreme amount” or “quite a bit” of confidence in…
60%
50%
40%
30%
43 %
40 %
36 %
Health insurance companies
Life insurance companies
P&C insurance companies
20%
10%
0%
Jan ‘12 Jan ‘14 Jan ‘16 Jan ‘18 Jan ‘20 May ‘20
Base: Consumers involved in their household’s financial decisions.
Consumer confidence in insurance agents
and brokers
Confidence insurance agents and brokers increased significantly since the onset of the pandemic, reaching a new high in May 2020.
How much confidence do you have in insurance agents and brokers?
7 %
9 % 9 %
6 %
11 %
7 %
6 %
6 %
7 %
Not sure
19 %
33 %
29 %
31 %
26 %
21 %
21 % 21 %
14 %
None
51 %
51 %
53 %
51 %
47 %
Some
49 %
50 %
50 %
49 %
Extreme/
Quite a bit
23 %
9 %
12 %
13 %
14 %
21 %
20 %
22 %
32 %
July ‘08* Oct ‘08 Jan ‘10 Jan ‘12 Jan ‘14 Jan ‘16 Jan ‘18 Jan ‘20 May ‘20
Base: Consumers involved in their household’s financial decisions.
*July ‘08 represents October-surveyed consumer responses regarding “3 months ago.”
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