Consumers agree insurance policies should be easier to understand

The news that some insurers are looking at reducing insurance policy terms and conditions to just two pages will strike a chord with a third (33%) of consumers according to a recent report by independent market researchers Consumer Intelligence.

The report, based on an innovative survey seeking consumers’ suggestions about how insurance could improve, found that many focused on changes they’d like to see to policy wordings.
 
Many consumers want changes in the way that policies are written to give a clearer understanding of what’s actually covered.
 
One of the survey respondents succinctly summed up the wishes of many by saying insurers should “provide a copy of the policy terms and conditions in simple understandable English with all the details in it.”
 
Consumers want policies to be easier to understand, written without jargon, and they don’t want things hidden in the small print.
 
Ian Hughes of Consumer Intelligence said: “Consumers want clear, simple insurance written in plain English with no weasel words.
 
“It’s really encouraging that insurers are looking at making their policy terms and conditions shorter as, if it happens, it will meet one the main gripes voiced by consumers.”