Why UK policyholders are losing faith in insurance—and how payments can fix it

Mind the claims gap

Customer loyalty in the UK insurance market is declining, with 40% of policyholders switching their provider, often due to slow claims processing, outdated payout methods, and lack of transparency. While price is important, it’s not the only reason policyholders leave. Efficient claims handling and seamless payment experiences are just as critical to retention.

In our latest report, we uncover key insights from a survey of 4,000 UK policyholders to reveal:

• The biggest frustrations driving policyholders away from insurers
• How long claims actually take vs. policyholder expectations, and why delays matter
• Why outdated payout methods weaken trust and what insurers can do about it
• The opportunity for insurers to modernize claims and payments to reduce churn

A challenge and an opportunity

As competition intensifies, insurers who fail to optimize claims processing and payouts risk losing customers. Download the report to understand how faster, more seamless payment solutions can help insurers retain policyholders and enhance customer satisfaction.