According to a survey about the preferred type of insurance among consumers in the Philippines in 2021, 67 percent of respondents whose lives were impacted most by the pandemic stated that they were likely to purchase health insurance online. Overall, automotive insurance was the least popular insurance type to be purchased online between both the most impacted and less impacted segment. Philippines was a country in the category of emerging markets, where the effects of the financial crisis were usually more severe for consumers.
Leading insurance products which are likely to be purchased online among consumers in the Philippines as of August 2021, by segment
The survey was conducted among consumers in the various countries including the Philippines. No information on the number of survey participants or the type of survey was provided by the source.
The respondents were classified into two segments: most impact and less impacted. According to the source, the most impacted segment in the country is typically younger (or those under 44 years old), with an annual household income of over 249 thousand Philippine pesos and with less than 120 thousand Philippine pesos in investible assets. They are also more likely to hold occupations where it is less feasible to work remotely.
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EY. (December 9, 2021). Leading insurance products which are likely to be purchased online among consumers in the Philippines as of August 2021, by segment [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1299955/philippines-type-of-insurance-purchased-online-by-segment/
EY. "Leading insurance products which are likely to be purchased online among consumers in the Philippines as of August 2021, by segment." Chart. December 9, 2021. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1299955/philippines-type-of-insurance-purchased-online-by-segment/
EY. (2021). Leading insurance products which are likely to be purchased online among consumers in the Philippines as of August 2021, by segment. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1299955/philippines-type-of-insurance-purchased-online-by-segment/
EY. "Leading Insurance Products Which Are Likely to Be Purchased Online among Consumers in The Philippines as of August 2021, by Segment." Statista, Statista Inc., 9 Dec 2021, https://www.statista.com/statistics/1299955/philippines-type-of-insurance-purchased-online-by-segment/
EY, Leading insurance products which are likely to be purchased online among consumers in the Philippines as of August 2021, by segment Statista, https://www.statista.com/statistics/1299955/philippines-type-of-insurance-purchased-online-by-segment/ (last visited December 22, 2024)
Leading insurance products which are likely to be purchased online among consumers in the Philippines as of August 2021, by segment [Graph], EY, December 9, 2021. [Online]. Available: https://www.statista.com/statistics/1299955/philippines-type-of-insurance-purchased-online-by-segment/
