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Life Health > Health Insurance > Your Practice

Consumers Researching Insurance On Web: LIMRA

By Staff Writer

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More than 85% of consumers see the Internet as a good source for information about insurance, according to a LIMRA International study.

LIMRA researchers found that 52% of consumers who sought information on individual life insurance, disability coverage, long term care insurance or annuities in 2009 used the Internet as at least one of their sources. That was up from 38% who did so in 2006, the last time LIMRA, Windsor, Conn., studied consumers’ online behavior.

Consumers also are increasingly willing to undertake financial activities online, with about 75% saying they expect to do more of their financial business over the Internet in the next 5 years, LIMRA found.

In fact, the number of consumers who bought insurance online has doubled since 2006, LIMRA found.

Consumers still want to be able to interact with a person to answer their questions, however, either by phone, e-mail or interactive chat forums.

“While insurance professionals still remain the top source for information, the majority of consumers are enlisting help from employers, friends and family and insurance company and financial Web sites,” said Mary Art, a LIMRA research director.

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