Partner Article

Insurers must respond to needs of consumers

Insurance firms must respond to the needs of people’s changing lifestyles, according to a report by Confused.com.

Insurance is traditionally linked to families and elderly couples, leaving those who choose to remain single, marry later or take on financial commitment with friends short of insurance cover..

Confused.com found that many people saw long friendships as an opportunity to share financial commitments, and many first time buyers are turning to friends to share the costs of buying a home in the face of high deposit demands.

Confused.com’s chief marketing officer is now calling on insurance companies to ensure the needs of all consumers are reflected in their product offerings.

He said: “There may be a whole generation of homeowners who are unprotected against losing the person they share their life and home with.

The report can be read in its entirety here.

This was posted in Bdaily's Members' News section by Ruth Mitchell .