- Where Insurance & Technology Meet

Covid-19 is Changing Insurance Customer Behaviour

By Steven Kaukinen, CEO & Co-Founder, Awywi Insurance Services Ltd.

In the distant past I didn’t think on-line insurance buying was really going to happen. There seemed a clunkiness about it, had kind of a “fly-by-night” feeling even if it was an insurer that did (or not) have a brand attached to it.

That was then and things have changed as technology has advanced greatly. However, now the insurance industry has to be more prepared than ever that the migration to purchasing (as opposed to just quoting and comparing) insurance on-line is really happening. Customers are being forced to change.

Sadly, now we have the harsh reality of the Covid-19 pandemic. The unthinkable has happened and has a possibility of recurrence. However, one thing that is inevitable is that insurance marches on. People need insurance, maybe now more than ever. But the daily need to service their accounts, renew their accounts and even, perhaps, purchase a new insurance policy has not gone away.

Interestingly, Covid-19 has probably done more to change insurance buying habits than generations of apathy can prevent. Covid-19 has motivated the industry recognizing the need to reach customers. While I wouldn’t say the industry was prepared in any way for this tragedy, it has reacted well and has been reaching out to customers. Many insurers are offering discounts/refunds on insurance reflecting the lower claims occurrences due to international lock down requirements resulting in less human behavior.

While there is absolutely no industry in a better position to take advantage of new technology (pandemic or not), aggregate expense ratios and simple observance shows little has fundamentally changed in 30 years. With Covid-19, status quo is no longer an option.

Brokers and insurers are rushing to support customers by letting employees work from home. The insurance industry is seeing just how vulnerable its customers are with antiquated rules that ignore the realities of modern communication and common sense. There is seemingly no end to the pandemic and the most active insurance season for renewals and new business is upon us.

Are you prepared for the new world of insurance? Because a lot of your customers now are, even if they weren’t before.

About the Author

Steve Kaukinen is a P&C insurance innovator and executive with over 30 years of insurance and insurance specific technology experience. He has worked in both the U.S. and Canada and has owned his own insurance agency as well as holding senior executive positions (including CEO) for insurance companies.

About Awywi

Based on the latest technology and the idea that the customer has to come first, the Awywi Insurance Fulfillment Platform (IFP) is the very first multi-insurer platform that allows insurers to quote, issue policies, make policy changes all in a fully automated real-time environment. We can significantly lower prices for all insurance products sold and serviced through Awywi by dramatically reducing the cost of distribution – both administration costs and selling commissions. For more information, visit

SOURCE: Awywi Insurance Services Ltd.

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