18 Nov Business Insurance Customers Resistant to Voice Technologies

Business Insurance Customers Resistant to Voice Technologies

Consumers in the United Kingdom are increasingly using online technologies to purchase their essential goods, services and financial and insurance products.

However, there remain areas of resistance, and a recent study by the company Policy Expert has found that fewer than one in ten people in the UK would feel comfortable taking out an insurance policy while using an online voice assistant such as Alexa, Siri or Cortana.

This is despite the fact that the use of such voice technologies is inexorably on the rise, with increasing numbers of individuals using them to listen to music, carry out basic internet searches, obtain weather forecasts and even manage their home heating and lighting systems.

Yet when it comes to finding a business insurance policy or managing their finances, most would prefer to go down the typical route – for example, comparing business insurance policies online or calling a business insurance broker.

Consumer reticence at using voice technology for such transactions boils down to one fundamental reason: 37% fear that their details will be compromised. Furthermore, nearly one in five (19%) have concerns about the accuracy and reliability of voice technologies; another 16% say that they find using AI voice assistants to be “weird” or “creepy” and perhaps may favour a human interaction. A further one in ten say that they do not trust that they understand the workings of voice assistant technology.

Although these statistics might indicate that voice technology will struggle to take hold in the business insurance, car insurance and other important insurance markets, it is doubtful that even the most obdurate of consumers will be able to resist the tide; voice technology and the internet of things are beginning to make their presence felt in every corner of the home and work environments. It is likely that before long voice technologies will become so commonplace and so developed that consumer trust will follow.

“With many UK households owning at least one device with a voice assistant, access to this technology is quickly becoming widespread,” commented the co-founder and chief operating officer of Policy Expert. “But consumers are holding back from getting the maximum benefit from voice assistants, and security concerns represent a significant barrier to wider adoption of this technology to help people manage their household finances.”

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