NIQ Study reveals improvement in health, motor, and life insurance in India

Jammu Tawi:  NIQ, a global leader in consumer intelligence, unveils actionable insights into the rapidly evolving Indian insurance industry. The NIQ Finance Syndicate Study highlights seismic shifts across the life, health, and motor insurance categories, reflecting evolving consumer preferences, intensified competition, and the disruptive emergence of Insurtech.The NIQ Finance Syndicate Study aims to empower insurers to navigate this changing landscape, where consumer decisions rely heavily on instant brand recall, ensuring that insurance remains synonymous with financial security and empowerment for all.Speaking about the emerging trends, Mitesh Dabrai, Executive Director – Consumer & Marketing Insights at NIQ in India said, “There is a surge in consumer awareness and engagement, fueled by the rise of new-age Insurtech players challenging traditional giants. The NIQ Finance Syndicate study indicates growth across various insurance sectors. For instance, life insurance has seen a 5% increase in spontaneous awareness and a 9% uptick in consideration. Likewise, health insurance shows a 10% increase in category consideration, while motor insurance demonstrates an 18% rise, highlighting the significance of network and product offerings.”