Banking and insurance – What disabled consumers choose to buy and why

Banking and insurance – What disabled consumers choose to buy and why

Introduction

Money saving experts advise consumers to shop around to ensure they are getting the best deals on insurance and savings rates. Banks and insurance companies offer incentives to encourage consumers to move their bank account, open savings accounts with better rates of interest or change insurance provider when renewal dates come up. Disabled consumers are estimated to be worth £274 billion and so are worth attracting as consumers.

Our research, however, found that disabled consumers struggled to find the information they needed to make the right decision about who to bank with and where to go for insurance. Disabled consumers are looking for good customer service, accessible information and the ability to communicate with their bank or insurer in a way that suited the consumer and not the provider.

Download the PDF for the full report.

Who is this for?

‘What disabled consumers choose to buy and why’ is for everyone involved in improving the experience of disabled consumers whether online, by phone or in-person. The findings will be useful for customer experience managers, customer service personnel, facilities and property managers and also for D&I and HR professionals responsible for attracting and hiring customer-service staff.

Methodology

Business Disability Forum (supported by Microsoft) commissioned Open Inclusion to gather business and consumer insights in the period from September 2021 to January 2022.

These insights were drawn from:

• Ten depth interviews with businesses were undertaken by Business Disability Forum amongst their Members and Partners.
• A quantitative survey of 1,001 people. A quantitative survey carried out by Ipsos on behalf of the Business Disability Forum, interviewing 1,001 adults aged 18+ in Great Britain between 26 November and 5 December 2021. The survey was carried out to explore the differences in attitudes to decision making between disabled and non-disabled consumers. Disabled respondents self-selected their disability and included people with sensory, physical, neurodiverse, mental health, cognitive and long-term conditions and access needs related to aging. In total 457 respondents opted in to one or more of these. The data has been weighted to the known offline population proportions for age within gender, government office region, working status, social grade (and ethnicity in the UK).
• A qualitative and detailed online survey (241 respondents all with disabilities answered a 25-minute questionnaire).
• Focus groups of four separate 90-minute sessions facilitated by Open Inclusion.

View full research methodology.

Read more

See the rest of the sector-specific reports in this series:

• Days out and leisure
• Holiday accommodation
• Hospitality
• Retail
• Technology
• Utilities.

See the main report and detailed findings.

Example – HSBC

Carolanne Minashi, Global Head of Inclusion at HSBC spoke at our 2022 Global Conference about the importance of creating an inclusive customer experience, and what HSBC does to achieve this.