Informed consumers can shape insurance market

The article discusses how increased financial awareness and digital access are empowering consumers to make informed choices in the insurance market. This shift, characterized by comparison-led purchasing, leads to consumers securing better value, lower premiums, and ultimately drives insurers to improve product quality, affordability, and claims experience. Data from a platform shows that comparing policies can lead to significantly lower premiums for similar coverage, and highlights key factors consumers consider, such as policy features for health insurance and claim settlement ratios for term insurance.