Brokers and insurers lure clients towards health insurance policies by employing various strategies.

In a survey conducted in June 2021 with over 1,000 German citizens, it was revealed that there has been a significant shift in the focus towards supplementary insurance. The pandemic has prompted a heightened awareness among consumers regarding the importance of travel health insurance, inpatient and dental supplementary insurance, and long-term care provision in case of illness.

The survey results show that 39% of respondents pay more or significantly more attention to supplementary insurance since the pandemic. This increased interest is reflected in the fact that more than 30% of German citizens who have considered supplementary health insurance intend to purchase it but have not yet done so.

Insurers are encouraged to engage in individual dialogue with their customers to identify and close any gaps in coverage. This approach could potentially tap into the immense potential presented by the growing demand for supplementary insurance.

The survey highlights the growth opportunities in the supplementary insurance sector. Several insurance companies, including Swiss Re, have pursued multi-channel strategies to target potential customers with an increased interest in supplementary insurance post-COVID-19. Swiss Re focuses on efficiency improvements and cost discipline while enhancing its product offerings.

Insurtech firms like LoyJoy are also participating in programs to develop seamless hybrid customer journeys using AI-driven chat platforms across websites, apps, and social media. This multi-channel orientation in insurance sales could be a key factor in successfully capturing the growing market for supplementary insurance.

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It is also important to note that almost two-thirds (61%) of respondents rate their current insurance situation for hospital, private long-term care, dental, and travel health insurance as partly inadequate or poor. This underscores the need for insurers to address the needs of consumers setting different priorities since the pandemic in the area of supplementary insurance.

In conclusion, the survey results indicate a growing demand for supplementary insurance in Germany. By adopting a multi-channel approach with simple, targeted sales paths, insurers stand to capitalise on this opportunity. Consumers are encouraged to take advantage of the increased focus on supplementary insurance to ensure they have the right coverage for their needs.