EIOPA has published its seventh annual consumer trends report and accompanying press release outlining key developments in
the European insurance and pensions sector. The report provides
statistical analysis of all aspects of the insurance and pensions
sector including trends in sales volumes, commission rates,
distribution channels and complaints. While there were no
significant shifts in 2017, certain trends have continued from
previous years.
The increased use of technology has become more noticeable
across all lines of business, but in particular, among the most
common non-life insurance products such as motor insurance (e.g.
60% of which was obtained through price comparison websites in the
United Kingdom). The report also notes a steady increase in the
purchase of cyber-risk insurance products as concern about
cyber-attacks grows among consumers.
