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Iris Global Corporate News Iris Global reveals the main trends in home insurance

Iris Global reveals the main trends in home insurance

presentacion del estudio de icea

The study has been carried out based on a survey among insurers, with a response from 29 entities that represent 65.3% of the premium share, of a market that in 2021 obtained a turnover of 4,878 million euros.

The objective is to anticipate future demand in order to offer an excellent service, closely linked to quality and customer satisfaction, elements of critical importance, according to said study, in order to be successful in the competitive environment of the Home Multi-Risk.

Among the main conclusions drawn from the analysis of the responses, the following should be highlighted:

Products and services


Key to improving customer satisfaction is the personalization of the product offering, as well as the services linked to them. Increased customer satisfaction translates into reduced risk of churn and increased NPS.



“Request information” and “Follow up on the claim” are the most used actions via the web or APP.

Although, there are entities that do not yet have these functions enabled. When an accident occurs, the communication channels that customers prefer are the telephone and the mediator. Close behind is email and, far behind, the rest of the options. Those entities that consider an improvement in communication with their clients must begin with the most requested by them, which are: «Declaration of the claim», «Follow-up of the claim» and «Request for information».

Claims and procedures According to the study, around half of the companies do not have a comprehensive digitization of the claim. Of the utilities that its implementation can bring, they stand out, due to their greater relevance for a digital client: being able to open the claim; self-management of repair appointments and digitally obtain information about the process.

This digitization would avoid the lack of information and attention, as well as delays, which are the facets that produce the most dissatisfaction in customers. Digital processing also means a reduction in processing time by companies, which can lead to an increase in loyalty and an improvement in brand image.



The bulk of the quality protocols focuses on the moments of "provision/claims" while the one with the least attention is the moment of "renewal". Both the network of service providers and the Call Center agents are the people whose quality of performance is monitored the most.

Companies pay great attention to offering a good "Customer Experience" at all times in which the customer interacts with the company, but they place special focus on retention, purchase and post-purchase follow-up. The importance of the customer experience is manifested in the fact that its meters are related to the company's general KPIs. Mostly the NPS and the CSAT (customer satisfaction meter). Abrir en el Traductor de Google •




While the implementation of advanced technologies in companies presents a high level, being present in almost 3/4 of the sample, collaborations with insurtech have room for maturity.

The technologies with the highest level of implementation are Machine Learning; Voice technologies (Chatbot, Voicebot ets..); RPA and RDA; and, finally, Big Data. Of the projects that have integrated this type of technology, those focused on Process Efficiency, Leak Risk detection and the Subscription process stand out. The report also collects data and graphs of the evolution and results of the 2021 financial year in the sector. Among many other values, it can be confirmed that the vast majority of policies, almost three quarters, have not declared any claim. And another 18% have declared only one.

Of the total claims, 37.1% has to do with "Water Damage", followed by "Crystals" (14.7%) and "Assistance Services" (11.2%).

The highest accident rates are grouped, fundamentally, in Castilla la Mancha, Madrid and the Valencian Community.

Finally, the x-ray of multi-risk home insurance shows, among other aspects, a decrease in the technical-financial result that has gone from 9.77% in 2017 to 4.19% in 2021, in response to the upward trend in claims and the expense part.


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