News Middle East30 Jul 2020

Turkey:Motor is most bought insurance cover

| 30 Jul 2020

Of every 100 people polled in a recent survey, 66 have compulsory earthquake insurance and 43 have home insurance.

The survey on consumer expectations of insurance , conducted by insurance sales platform and research company IPSOS, covered approximately 1,000 people, aged 25-45. The research was based on those who have bought their insurance through the online platform and are the decision makers. Also, focus group studies were conducted to obtain more in-depth information.

According to the responses received, motor insurance is the biggest class of business, followed by mandatory earthquake insurance and housing insurance. The survey shows that some consumers avoid earthquake insurance even though it is mandatory.

Among the least preferred insurance products are goods insurance (17%) and electronic device insurance (15%). 

According to survey respondents, "insurance" means primarily "being secure" and minimising risk.  

According to the research, 67% of consumers decide their insurance purchase according to brand and 37% based on service provided. 

What is important to customers too is the ability to choose their insurance plan quickly and freely through access to information on coverage and price. marketing director Izzet Ozveren said that the customer's attitude towards insurance is “Insurance is equal to trust” and “Choosing the right product at the right price, from the right company”. 

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