Malaysian consumers were more likely to recommend insurance products after exposure to hybrid channels, rather than digital platforms alone, according to a report by consulting firm Bain & Co. Of the Malaysian surveyed, 60% agreed that they value services beyond insurance protection, and would like to see insurance companies branch into areas such as health monitoring, fitness planning and legal advice. The study also found that Malaysians are less concerned about privacy issues when it comes to online services, with only 27% of respondents saying their personal information is “very important” in deciding whether or not
Malaysian consumers were more likely to recommend insurance products after exposure to hybrid channels, rather than digital platforms alone, according to a report by consulting firm Bain & Co. Of the Malaysian surveyed, 60% agreed that they value services beyond insurance protection, and would like to see insurance companies branch into areas such as health monitoring, fitness planning and legal advice. Although data confirming the efficacy of customer reward programmes is inconclusive, the co-author of the report speculated that the higher customer engagement they encourage most likely lead to higher retention.