Will the Insurance Comparison and Recommendation Service Become a White Elephant? The Reasons for Consumer and Insurer Apathy
The insurance comparison and recommendation service, The insurance comparison and recommendation service, ambitiously promoted by financial authorities to enhance consumer convenience and reduce insurance premiums, is facing indifference from both consumers and insurers. The service, which includes automobile insurance, travel insurance, and pet insurance, is performing below expectations, raising concerns that it may turn into a white elephant. This article explores the current issues and their underlying causes. The financial authorities introduced the insurance comparison and recommendation service with the aim of improving consumer convenience and reducing insurance costs. However, the service is failing to meet expectations in practice. Automobile Insurance The automobile insurance comparison and recommendation service was the first to launch, with high expectations due to its mandatory nature and relatively simple product design. Despite attracting around 490,000 users over the ...