We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (19,339)
  • Industry Conferences (5)
  • Industry Job Openings (6)
  • Moore on the Market (289)
  • Negative Media (141)
  • Positive Media (73)
  • Sheryl's Articles (728)
  • Wink's Articles (300)
  • Wink's Inside Story (266)
  • Wink's Press Releases (111)
  • Blog Archives

  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • August 2006
  • Life Insurance Purchased on Perceived Value, Not Cost, J.D. Power Finds

    November 20, 2022 by J. D. Power

    TROY, Mich.–(BUSINESS WIRE)–That adage about a life insurance policy being sold and not bought needs to be updated for the post-pandemic era. In fact, customers are initiating the purchase of life insurance, but the key criteria for choosing which one to buy often involves much more than cost. According to the J.D. Power 2022 U.S. Life Insurance New Business Study,SM released today, a customer’s perceived value and the view that insurers are making recommendations in the customer’s best interest are the key factors influencing life insurance shoppers to choose one brand over another.

    “It is noteworthy during this inflationary period when price has become the most important factor in so many consumer purchase decisions that life insurance customers are more concerned with their future and the insurer’s ability to make good on their promises than they are about price,” said Robert M. Lajdziak, director, global insurance intelligence at J.D. Power. “This puts the onus on carriers to differentiate, clearly convey their unique value propositions and make sure prospective customers fully understand all aspects of their policy offerings.”

    Following are some key findings of the 2022 study:

    • Quote and buy conversion rates increase: After industry-wide quote rates rose a year ago for the first time in 30 years, quote rates have increased another 9 percentage points this year, while buy rates have increased 13 percentage points as increasing numbers of consumers are seeking life insurance policies.
    • Concern for future spurs life insurance shopping activity: The biggest single factor prompting consumers to start researching life insurance policies is concern for the future, cited by 57% of life insurance customers as the primary catalyst to seeking out a policy. That percentage is up from 55% in 2021.
    • Overall satisfaction holds steady: Overall satisfaction with individual life insurance providers remains largely steady at 774 (on a 1,000-point scale), down 2 points year over year. Satisfaction with the shopping process has also remained stable with identical scores year over year despite speed of executing a policy increasing in new buyer satisfaction this year.

    The 2022 U.S. Life Insurance New Business Study measures the experiences of shoppers of the largest life insurance companies in the United States. The study measures overall customer satisfaction based on the application process, and surveyed shoppers are able to convey their experiences in the application and quote processes with up to five brands—although only one brand is required.

    The study is based on responses from 6,993 consumers who shopped for individual life insurance in the past 12 months and was fielded in July-August 2022.

    For more information about the U.S. Life Insurance New Business Study, visit https://www.jdpower.com/business/insurance/us-life-insurance-new-business-study.

    See the online press release at http://www.jdpower.com/pr-id/2022169.

    About J.D. Power

    J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

    J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.

    About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

    Contacts

    Media Relations Contacts
    Geno Effler, J.D. Power; West Coast; 714-621-6224; media.relations@jdpa.com
    John Roderick; East Coast; 631-584-2200; john@jroderick.com

    Originally Posted at BusinessWire on November 15, 2022 by J. D. Power.

    Categories: Industry Articles
    currency