GCS2020-21 LIFE. REAFFIRM - ANUARIO EL ASEGURADOR
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ReMark Global Consumer Study 2020-21
ReAffirm
Living with
the Pandemic
Life.
GCS2020–21
ReMark's Annual Global Consumer Study
ReMark Global Consumer Study 2020-21
ReMark Global Consumer Study 2020-21
Theme 1
04
Foreword
18 Fitness for Life
30Theme 2 Peace of mind
About the study
06 Theme 3
40 Contactless but human
08Consumer view 48Conclusion
of the market
52 Appendices
Contents
4 Foreword ReMark Global Consumer Study 2020-21 5
“Covid-19, coronavirus, pandemic”. All obscure words that now
dominate our everyday vocabulary in a way that would have been
unthinkable just a year ago.
We live in an unprecedented time. But things aren’t always so straightforward
Unprecedented — another word that’s never in such times. Paradoxes are present, too.
seen so much use, now mentioned in every Although it’s widely established that senior
circumstance, be it about the economy, citizens are more vulnerable to the coronavirus,
job market, medicine, theatres, aviation, they appear, for the most part, reasonably calm
restaurants, sports, or even insurance. So, in during the storm of this pandemic. It is actually
these unprecedented times, the findings of our the millennials who are more mentally stressed.
7th Global Consumer Study, backed by six years The lockdowns, social distancing, bleak job
of comparative data, have an even greater market, loss of income and the uncertainties
significance. We’ve also added two new of the post-pandemic world are no doubt all
countries in this year’s study — Sweden, made contributors. In this year’s study, mental health
famous this year for its unorthodox way of is one aspect that we put a particular emphasis
managing Covid-19, being one of them. on — we seek to better understand the mental
health of our consumers, and their comfort in
Something remains reassuringly stable. Our disclosing such information with their insurers.
consumers continue to come across educated
and tech-savvy, their awareness of insurance Another paradox is our desire for human
high and their desire for technology intact, in contact despite rapid digitalisation. Globally it
exchange for a better price or experience. is incredible just how effective the coronavirus
(and resulting lockdowns) has been at catalysing
Yet other aspects show an unparalleled shift. rapid digital transformations, both personal
It ought to offer no surprise to anyone that and corporate. Insurance is no exception. Our
the majority of consumers said Covid-19 will consumers acknowledge they have become
permanently change their perspectives on social much more open to technology and automation
distancing, personal hygiene and travel. The than before the pandemic. But intriguingly
already celebrated phenomenon of “health is the trend for trust in automation of customer
new wealth” has received a major boost. The services or claims is reversed — we crave
importance of health, or rather, the appreciation human contact more than ever, even as — or
of life, is now the main focus of our consumers’ because — we live in an increasingly virtual
minds. The number of consumers who choose world in which we stay in touch with colleagues,
“exercise” as their main target lifestyle family or friends. Somewhat expectedly, the
improvement, and who would use health and highly isolated older generation showed a far
wellness apps to help them stay fit and healthy, more pronounced preference for dealing with
has increased significantly this year. a fellow human being instead of a machine.
Human empathy, human touch, human dialogue.
The year 2020 is a harsh reality education course These words are comforting, bringing warmth —
for many of us on ‘how things can go horribly something that’s never been so important.
wrong’. While we digest the numbers (over 31
million Covid-19 cases and over 971,000 deaths “Crisis” in Chinese consists of two words: wēi
globally at the time of writing), we have also and jī (危机). Wēi means “danger”, jī means
seen floods, forest fires, bankruptcies, protests “opportunity”. It implies that for every danger
and political conflicts all unfold one by one in that tragedy or hardship brings, there is an
front of us. More than ever, as we appreciate opportunity. Presently we still have a chance
the preciousness of our own lives, we become to turn this pandemic into a value accelerator
equally aware of just how uncertain life has rather than a wealth destroyer. Our consumers
become — acutely so. Consumer interest in have spoken to us through this survey — it is
seeking insurance, such as term life and critical now up to us to turn the heightened awareness
illness to protect themselves and loved ones of risk, the universally accepted virtue of good
FoRewoRd
against uncertainties, has unsurprisingly risen health, the openness to technology, to create
as a result. our own game.
Na Jia
ReMark CEO6 About the study ReMark Global Consumer Study 2020-21 7
Sweden**
UK
512
Canada 500
505
Ireland** Germany
South Korea
512 517 515
USA
China
1028 Spain
1038
505 Japan
France
520
500 India
Mexico
506 1018
Malaysia
510
In the 7 edition of our Global Consumer Study, we look
th
at people’s view of life insurance and explore the values,
Indonesia
priorities and habits that influence consumer behaviour.
The effect of the pandemic and economic downturn can
be clearly felt. Building on previous studies, we then take
511
a deep-dive into three themes of particular relevance to
consumers this year: health, body & mind and humanising South Africa
507
the digital experience.
Australia
We want to thank everyone who participated in this Chile 508
508
process during what was an unusual start to the year,
and ensured the report could be released on schedule.
Growth market* Established market*
Methodology
about
This study is based on the responses to an online survey conducted by ReMark with our
partner Dynata of 10,720 consumers, drawn from 18 key life insurance markets around
the world. Fieldwork was conducted between 12th and 20th May 2020. The sample
and methodology for each market aim to be representative of consumers or potential
consumers of life insurance, based on national sets of demographic parameters (age,
the studY
gender and region). Results are analysed by ReMark’s GCS committee, which consists
of a broad range of profiles from data analysts to independent insurance experts.
* The breakdown is made according to the latest available figures from the OECD on
insurance spending per GDP and ReMark market analysis.
** Ireland and Sweden are new countries included in this year’s study.
https://data.oecd.org/insurance/insurance-spending.htm8 Consumer view of the life insurance market ReMark Global Consumer Study 2020-21 9
85.7% 57.2 % 69.7%
Consumer China
83.9%
Ireland
46.0 %
Global Average
view of the India
82.1%
United Kingdom
45.5%
life insurance South Korea Australia
market
79.0%
78.2%
77.1%
76.1%
74.6%
73.7%
68.9%
68.2%
68.0%
Life insurance provides a classic demonstration of
66.3%
64.9%
the difference between what we want and what we
58.9%
need. It’s fair to say that, while many could benefit
from insurance products — this year perhaps more
clearly than ever — few would express a burning
desire to engage with insurers.
Given this presumption, we can take some encouragement from the
fact that 7 out of 10 respondents to our survey, one designed to
be representative of the target market for life insurers, have some
form of life insurance cover. But this headline number tells us little of
the adequacy of that cover, or of the scope for future expansion.
In this section we look at global insurance product mix and
penetration. We study attitudes to risk, consumer expectations,
from insurer communication to time to purchase, and ask
where they get their information on what to buy.
Market snapshot
A quick examination of insurance penetration rates reveals the
seemingly paradoxical fact that a number of the so-called ‘growth’
markets have very substantial proportions of respondents claiming to
have life cover, either in the form of pure protection or savings with
China
India
South Korea
Malaysia
Spain
Japan
South Africa
Sweden
Germany
Indonesia
Mexico
France
Canada
USA
Chile
Ireland
UK
Australia
Global Average
protection components — China (85.7%), India (83.9%) and Malaysia
(79.0%). This contrasts starkly with the much lower rates of penetration
in a number of the ‘established’ markets — Ireland (57.2%), UK (46.0%)
and Australia (45.5%). (Fig. 1).
Certainly, there are a number of differences in demographic structure
Q: Do you currently have insurance covering life, accident, death, illness or disability?
between the samples drawn from the different markets, which may
Fig. 1: Insurance ownership – % Yes
be a contributing factor. Taking the growth market sample, 90% of
respondents were under 55 — the peak target sector for life insurance
— compared with just 65% in established markets. Eighteen percent It appears that the respondents from growth markets are fallout from Covid-19 in the short term at least putting
of respondents in established markets were retired, compared with drawn, very largely, from the educated elite, with 77% a severe damper on economic growth, it would be easy
just 3% of those from growth markets. Though retirees are legitimately having at least an undergraduate degree. This is even to take a pessimistic view of the future for insurance in
included as potential insurance customers there’s no denying that, in higher than in our sample from established markets (68%). growth markets, at least based on our survey. But even
general, their need for cover has diminished. though these markets have clearly been successful in
On first glance the exceptionally high penetration reaching their potential client bases, there is little doubt
rate in some growth markets will mean that future that substantial scope exists to address gaps in both the
expansion will depend upon a combination of economic breadth and adequacy of life insurance cover.
development and demographic changes that bring more
of the population within the target market. With the10 Consumer view of the life insurance market ReMark Global Consumer Study 2020-21 11
What products are people buying? by the incursion of the fund management industry upon Moreover, more effort has been made this year The data relating to past purchases is a snapshot
insurers’ traditional savings markets. New business in those to ensure respondents understand the insurance of historical fact rather than an indicator of future
Which life insurance products people within each market markets is now focused very largely, if not exclusively, on product questions more clearly by avoiding insurance demand or intentions. At the time when the survey
own — critical illness, savings, whole life etc. — will pure protection. jargon and using consumer friendly expressions. was conducted, none of the countries included in
be influenced by a combination of context-specific For instance, instead of asking respondents to this project had been entirely immune from the
factors. Foremost among these is regulation. Regulation And then, of course, history plays its part. The more simply tick a box for “critical illness”, those that said impact of Covid-19. Not all countries were at the
dictates everything from solvency requirements to established markets have a longer legacy of past business they owned a life insurance product, were asked same stage of development of the pandemic. Some
agent remuneration, and fiscal policy that may confer that means the in-force portfolio has a very different mix to to indicate whether they own a product protecting were past the worst of the initial wave of infections,
special tax privileges. The extent of state- and/or that of the newly generated business. themselves against critical illnesses, such as cancer others were having record daily case numbers, while
employer-sponsored benefits will be another factor or heart attack. This may explain the more noticeable some had yet to feel its full effects.
that shapes demand for personal insurance. Consumer responses this year suggest that life insurance swing observed in an established market such as
remains a significant medium for savings in a number of Japan — presumably with the benefit of greater Despite this, the pandemic has had a profound
Competition for the savings dollar from outside of the markets, most notably in India, China and Indonesia (Fig. accuracy. influence upon public attitudes to many facets of
insurance industry is more highly developed in some 2). Critical illness cover clearly finds increasing favour in daily life.
markets. The relatively low rates of penetration in many of the growth markets. And it’s also proved to be a
Australia, Ireland and the UK may be explained, in part, popular product with the Indians and Japanese.
Yes No I’m not sure
2019 2020
India 81.9% 8.6% 9.4%
Critical illness Whole of Life Retirement funds
and Term Life and savings
China 69.3% 19.7% 11.0%
60.2%
Mexico 59.1% 28.3% 12.6%
Australia
Canada Malaysia 55.9% 24.7% 19.4% Yes
Chile South Africa 53.8% 28.8% 17.4%
Growth Market
China
Average
Indonesia 53.0% 25.8% 21.1%
France
Chile 48.6% 27.8% 23.6%
Germany
40.6 %
India Spain 41.6% 41.8% 16.6%
Indonesia
South Korea 41.4% 38.6% 20.0%
Yes
Ireland
Japan 36.7% 44.0% 19.2%
Japan Global
USA
Average
Malaysia 29.1% 54.1% 16.8%
Mexico UK 28.6% 49.8% 21.6%
South Africa
28.0 %
Ireland 27.7% 46.1% 26.2%
South Korea
Sweden 24.0% 52.3% 23.6%
Spain Yes
Sweden Australia 23.2% 59.6% 17.1%
Established Market
UK Average
France 22.4% 66.2% 11.4%
USA
Canada 20.4% 60.6% 19.0%
Global Average
Germany 13.2% 77.0% 9.9%
0 20 40 60 0 20 40 60 80 0 20 40 60
Q: Do you currently have insurance covering life, accident, death, illness or disability? Q: Has Covid-19 (Coronavirus) changed your attitude to risk and the value of insurance?
Fig. 2: Insurance ownership Fig. 3: Attitude change as a result of Covid-19 by country12 Consumer view of the life insurance market ReMark Global Consumer Study 2020-21 13
2020: year of risks Gen Z Millennials Gen X Boomers Silent Generation
In perhaps one of the most interesting
13.4 %
Internet comparison
questions in our survey this year
41.9 %
website
respondents were asked whether
Covid-19 had changed their attitudes to
12.7%
Global
Average
risk and the value of insurance.
18.4 %
Search engine
The responses show that the experience 40.6 % Directly with
22.0 %
insurance
5.4 %
of living through the pandemic has Global
company
Average
brought about a fundamental change Professional
Social media
in thinking with 40.6% of respondents financial
acknowledging that their attitudes to risk adviser
and insurance had indeed shifted (Fig. 3). 68.0%
4.4 %
Magazine &
As the results show however, the global 16.2% newspaper
average masks a vast difference between
countries in the degree to which those 22.3% 17.6 % 22.7%
Family & friends
attitudes have changed. As a general
observation, respondents from growth
Global
Average 1.0 %
58.7% Other
markets were more than twice as likely as 37.9%
their counterparts in established markets
to have had a change of thinking about
the merits of insurance. In all likelihood, Q: What sources of information, if any, did you use before you bought your most recent product?
this is a reflection of the fact that the 52.5% 44.3% 15.8% Fig. 5: Most trusted source to research about life insurance products
scope and adequacy of their existing
19.0%
cover falls short of their needs — though
even in the most sophisticated of markets, 17.9% Who do you trust?
32.3%
commentators still bemoan a ‘protection
gap’ that leaves a significant majority with 15.2% Respondents were asked to rank three sources of information
51.3%
inadequate cover. they would rely on the most when researching what life
26.3% 22.4%
insurance products to buy.
It is interesting to see that the reputation
of the pandemic had reached Latin Yes No I’m not sure It seems that in this area old habits are resilient to change.
America before its effects had been In all markets and at all age groups the traditional sources of
Q: Has Covid-19 (Coronavirus) changed your attitude to risk and the value of insurance?
truly felt at the time of the survey. The information, like Professional Financial Advisers (PFA) and advice
Fig. 4: Attitude change as a result of Covid-19 by generation
attitudes of a significant proportion of the from friends and family, remain by far the most trusted (Fig. 5).
respondents in Chile and Mexico were
already changing at a time when local It is noticeable that few appear to place much faith in social
infections were still at a relatively media, despite its widespread use by both brands and
modest level. This may point to the consumers. Overall, just 5.4% of respondents nominated social
speed and reach of news and information media to be their preferred source of information. Even the
in today’s globalised, connected world. most avid users — Generation Z and millennials — appear to
Coronavirus was front-page news and be very much more inclined to put their faith in the traditional
trending on social media for much of the sources of information. Has the abundance of advertising,
second quarter. meaningless information, and ‘fake news’ on social media
started to take a toll?
The analysis of responses by age group
shows that Gen Z and millennials were Internet comparison websites gained a little more support
very much more likely to have had a this year, with around 13% favouring them as a means of
change in their approach to risk than the research. The popularity of comparison websites increases with
older generations (Fig. 4). Millennials in age until one reaches the silent generation, with nominations
particular are reaching a stage in their from just 9% of Generation Z respondents, compared with over
lives when they are taking on more 15% of boomers.
responsibilities, yet ordinarily wouldn’t
have given much thought to their
mortality — it appears that the pandemic
has led to a reappraisal.14 Consumer view of the life insurance market ReMark Global Consumer Study 2020-21 15
Customer priorities 2019 2020
The top customer priority this year is
still price. No surprises there. And yet
there is evidence that brand reputation, 45.7%
as we identified back in our 2014 survey,
42.2%
is assuming much more importance.
The proportion of respondents this Competitive Price
year citing brand reputation as a reason
they decided to buy life insurance leapt
nearly 10% from last year (Fig. 6).
Dipping satisfaction 19.4%
28.6%
Overall, almost 7 in 10 respondents Make me smile
said that they were either happy or very Brand Reputation
happy with their insurance product(s) — Again, the primary cause
a satisfaction rating that is somewhat of consumer satisfaction
lower than in 2019. in an existing life insurance
8.1
26.2% product this year is value
1.8%
for money, cited by around
19.1% two-thirds of consumers globally.
% A similar proportion cited the
customer satisfaction 70.2%
Hassle-free Process fact that they felt the policy was
very happy and happy appropriate for their needs. As shown
in 2020 vs 76.4% in 2019 in Figure 9 below, the value attached to meeting
needs increases significantly with age — the
More people were explicitly dissatisfied 7.1% older generation may be more aware of their
with their life insurance products this specific health needs, and more familiar with the
year, too — 8.2%, up from 3.3% in 2019. 9.1% terms of insurance. Conversely, cash is king for
Speed of Completion the youth, with value for money a positive product
The expressed unhappiness is more feature for 71.2% of millennials. Price becomes less
pronounced among the younger important over time.
generations, with both Gen Z (2019 —
2.4%, 2020 — 11.3%) and millennials
(2019 — 2.5%, 2020 — 9.1%) notably 1.7%
higher than 2019 (Fig. 8). This
0.9%
increase among younger generations
means they’re now less happy with Other
Good customer service Good value for money Innovative features Meets my needs
their insurance products than older
respondents, which was the reverse Q: What is important to you in the purchase of life insurance?
in 2019. Fig. 6: Life insurance features
87.0%
75.7%
71.2%
66.7% 69.3%
11.3% 2019 2020
59.8%
54.2% 66.6%
9.1%
7.4% 53.9% 55.6%
7.7% 52.3%
6.6% 49.8%
42.8%
4.7% 33.4% 32.7% 33.6%
3.7% 26.0%
21.1%
2.5%
2.4% 14.7%
5.9%
0.5% Gen Z Millennials Gen X Boomers Silent Generation
Gen Z Millennials Gen X Boomers Silent
Generation Q: If you are happy with any of your current life insurance products, which of the following are the positive features?
Fig. 9: Positive product features
Q: How happy are you with this insurance product?
Fig. 8: % Very unhappy and unhappy with insurance productsPositive Product Feature (2019) Positive Product Feature (2020)
16 Consumer view of the life insurance market ReMark Global Consumer Study 2020-21 17
Good value Good value
for money 57.7% for money 65.9%
Positive Product Feature (2019) Positive Product Feature (2020) 10.3%
10.3% 14.9%
14.9%
Within
Within Within
Within
Meets my Meets my
needs
Good value 52.3% needs
Good value
65.8% oneone
week
week oneone
weekweek
for money 57.7% for money 65.9% 29.7%
29.7% 21.3%
21.3%
Good customer Good customer Within
Within Within
Within
service
Meets my
37.1% service
Meets my
45.4% an hour
an hour an hour
an hour
needs 52.3% needs 65.8%
16.0%
16.0%
Within
Within
Good customer Good customer 48hrs
48hrs
service 37.1% service 45.4%
21.2%
21.2%
Within
Within
Negative Product Feature (2019) Negative Product Feature (2020) 48hrs
48hrs
Price too Price too 44.0%
44.0% 42.5%
42.5%
expensive 45.7% expensive 58.4% Within
Within
Negative Product Feature (2019) Negative Product Feature (2020) Within
Within
24hrs
24hrs 24hrs
24hrs
Inflexible/doesn’t Inflexible/doesn’t
meet my needs
Price too 33.3% meet too
Price my needs 28.6%
expensive 45.7% expensive 58.4%
2019
2019 2020
2020
Poor customer Poor customer
service
Inflexible/doesn’t 24.3% service
Inflexible/doesn’t 34.1%
meet my needs 33.3% meet my needs 28.6%
Q: What length of time would be acceptable for an insurance company to complete the purchase process?
Poor customer current life insurance products, whichPoor
are happy with any of your24.3% customer
Q: If you
service
of the
service
following are the positive features? 34.1% Fig. 11: Acceptable time for purchase completion
Q: If you are you unhappy with any of your current life insurance, which of the following give cause for concern?
Fig. 10: Positive and negative product features 2020 vs 2019
To assess whether or not insurers are striking the Interestingly though, around a quarter of
right balance with their communications, consumers respondents said they had not received information
Customer service was mentioned as a reason for Respondents were asked what they thought was an were asked for their views on the frequency with whatsoever in any of the four categories. For those
satisfaction by nearly half of respondents. Yet Figure acceptable length of time to complete a purchase. which their insurer contacts them. We asked about that specifically asked to hear more from their
10 shows that among those who were unhappy with We found that 21.3% of respondents this year expect four categories of information: new products, health insurers, financial tips, and discounts/offers, were the
their policy, customer service was cited as a cause for everything to be wrapped up within an hour, which is and wellness, financial tips and discounts and offers. top categories. What we take from this is that there
dissatisfaction by just 34.1%. That customer service is down from 29.7% last year. The more relaxed approach is definitely an opportunity to contact customers
neither a major cause for satisfaction nor dissatisfaction to time was also evident in the numbers that would be This year more than half of respondents were more often — a fifth of respondents are even
is perhaps a reflection of a relatively low level of willing to wait up to a week for completion — 14.9% comfortable with the amount of information they asking for it. Lifestyle information, financial advice
customer-insurer interaction once the policy has been compared with 10.3% in 2019 (Fig. 11). received on new products (52.0%) and health and discounts/offers are good topics to start with,
signed. Apparently, there just isn’t much customer and wellness (51.2%), and a little over 40% provided it’s relevant and helpful to customers.
service experience to be happy or unhappy about. We In a year that accelerated our online migration, why the felt that they received an appropriate level of
cover customer engagement elsewhere in this report but lower expectations? It could well be because people communication on financial tips and discounts
this underscores the potential dividends to be gained recognise the pandemic has disrupted working practices and offers. Only a small minority thought
from more frequent contact with customers. Though — in every industry — and things take longer. Think back they were contacted too often (Fig. 12).
bear in mind, the content of that communication matters to the beginning of the crisis when the whole supply
— customers want information that’s valuable and chain was disrupted. It may also be the case that with
relevant to them. consumers becoming more conscious of the importance Too often About the right amount Not often enough Not at all
of protection, it’s seen to be more acceptable to give
Once again, the importance of price is mirrored by the more time to ensure one has the right cover.
fact that poor value for money was mentioned as a
cause by nearly 60% of those expressing dissatisfaction Despite this, there’s no room for complacency. It’s still New products 10.2% 52.0% 17.9% 19.9%
with their insurance policies. That’s up from 45.7% in the case that 85.1% of respondents expect to have
2019, which may be an indication that consumers are everything completed in under 48 hours.
monitoring their spending habits more closely this year.
Health and
9.3% 51.2% 18.2% 21.2%
wellness
Keeping in touch
Policyholder expectations
As with any business, a satisfied and engaged customer
As we said earlier contact between life insurers and is a valuable source of new business, whether by repeat Financal tips 11.6% 41.5% 20.4% 26.5%
their customers is generally infrequent once a policy is purchase or recommendation to family and friends.
in place. The purchase process is a rare opportunity to Given what we said earlier about word of mouth being a
stand out — or to disappoint. It’s therefore critical to trusted source of advice, this is all the more important.
understand the service standards that consumers expect The practical challenge for life insurers is that there Discounts and
offers 11.0% 41.9% 21.0% 26.2%
of life insurers. Meeting or exceeding those expectations can be a rather large gap — years if not decades —
should be the bare minimum for insurers wanting to between purchase and claim (if a claim is even made).
deliver a good customer journey. Life insurers cannot therefore rely on these touch points,
but must find other ways to find ways to engage with Q: How would you assess the frequency with which your insurer has contacted you about the following, since you purchased your policy?
policyholders more regularly. Fig. 12: Assessment of communication frequency18 Theme 1 – Fitness for Life ReMark Global Consumer Study 2020-21 19
There are few good things because of coronavirus. A majority of
that one can say about living consumers surveyed claimed Covid-19
in the shadow of a pandemic. had changed their lifestyle choices
or behaviour — and for good (Fig.
If there’s a silver lining in the 13). While a shift in attitudes toward
otherwise gloomy skies, social distancing and personal hygiene
it’s that many around is expected, we also see permanent
the world have come to changes in how receptive consumers are
appreciate what is so often to learn how technology could improve
taken for granted — the gift their health, and in people’s familiarity
key
with buying online.
of good health.
Health is certainly more important
takeawaYs
Our survey results show that more than than ever, but it’s also talked about in
three quarters of respondents (76.4%) a different way. It’s almost become a
say the virus has encouraged them to public good, a right — we see this in the
be more proactive about managing their balance between saving lives and the
health, of which 69.1% profess they economy that many countries are finding
• With just over 3 out of 4 of respondents would like to exercise more and stay it hard to strike. Insurers have a chance
claiming that Covid-19 has encouraged them more active. to respond to people’s new priorities as
to be more proactive towards managing a result of Covid-19, and contribute to
their health, it’s clear the pandemic has led There’s been an evolution of mentalities the global ‘movement’ to be healthier
consumers to reconsider life priorities. This year, and attitudes towards risk and death and stay that way.
health is at the top of the list. 37.2% believe
exercising more is the #1 goal to manage
their health, up from 27.3% from last year. Has Covid-19 changed any of your Will these changes
lifestyle choices or behaviour? (% yes) be permanent? (% yes)
• No surprises that digital natives (Gen Z and
millennials) will be the most receptive to great
online experiences. They are by far the most 93.8 % 82.9 %
connected, and ready to use personalised
and self-managed health & wellness apps. 73.1 % 76.8 %
They also have less hang-ups about sharing Social distancing Personal hygiene
their data in return for premium discounts.
• There is a strong correlation between wearable
ownership and self-reported level of fitness. 69.8 % 66.2 %
65.2% of wearable-using respondents exercise
for more than 20 minutes at least three
58.3 % 66.5 %
times a week — compared to only 41.7% for Frequency of travel Frequency of exercise
those who don’t intend to get a device.
61.9 % 56.6 %
56.7 % 59.3 %
Frequency of Learning how tech
online shopping can improve health
Q: Has Covid-19 (Coronavirus) caused you to change any of your lifestyle choices or behaviour?
Fig. 13: Impact of Covid-19 on lifestyle or behaviour20 Theme 1 – Fitness for Life ReMark Global Consumer Study 2020-21 21
Health is still the new wealth But appearances may be deceptive. If one takes relatively little interest in healthy living, have the
obesity levels as a very approximate surrogate lowest rate among OECD members.
Seventy-one percent of those surveyed said healthy living Other countries appear to be less convinced. Over 13% measure of a population’s lifestyle, a different picture
played either a very large role (26.6%) or a large role of respondents claimed that healthy living plays little or emerges. Mexico, whose respondents were the most One plausible explanation for this is that perceptions
(44.4%), in their lifestyle. The most enthusiastic devotees no role in their lifestyle choices. This is a view held by just likely to claim a healthy lifestyle, has an obesity rate are often set by what we know and what we see
of healthy living appear to be the Mexicans, with 94.1% under a third of Swedish and Japanese respondents, and that, according to OECD figures1, is second only to around us. This includes the very idea of “healthiness”.
claiming that health plays a significant part in their as low as 18.6% of French consumers. the United States among countries included in the A very healthy lifestyle in one culture could be normal
lifestyles. The Chinese, with 92.4%, and the Spanish, with survey. On the other hand, the Japanese, who claim in another, and not worth any emphasis.
91.0%, appear to be similarly committed (Fig. 14).
Fitness first
A very large role A large role Neither small nor large A small role or no role at all
It’s clear that the most significant changes in lifestyle With many countries in lockdown and people staying
this year have been in relation to activity levels. This home for extended periods this year, unable to go
India 54% 30% 6% 10%
is in keeping with the priorities expressed by our outside to jog or go to the gym, the results are
respondents. Last year 27.3% of respondents said understandable. Furthermore, exercise is regarded
China 46% 47% 6% 1% exercise was the area that they would most like to as having a positive effect on the immune system,
improve. If the results of this year’s survey are truly which given the focus on personal health this year
Spain 46% 45% 6% 3% representative, then it seems that some, at least, may be another contributing factor to the increase.
have met their goal. In 2020, exercise is an even
Mexico 35% 59% 3% 3% clearer priority, with 37.2% targeting this above diet,
sleep and other lifestyle goals we see in Figure 15.
Malaysia 32% 43% 16% 9%
2019 2020
Chile 30% 60% 7% 3%
Indonesia 29% 47% 7% 17%
27.3%
20.5%
South Africa 27% 50% 15% 8% 5.1%
Sweden 24% 31% 15% 30%
Germany 23% 41% 24% 13%
18.4% 16.1%
South Korea 22% 46% 23% 10%
37.2%
France 21% 50% 10% 19%
More exercise Better sleep None
USA 21% 38% 24% 17%
Australia 17% 43% 23% 18%
Canada 17% 43% 25% 15% 22.7%
15.9%
8.4%
Ireland 14% 47% 20% 19%
UK 13% 41% 28% 18%
4.4%
37.2%
Japan 13.6% 10.3%
10% 37% 24% 29%
Global Average 27% 44% 16% 13% Lower stress levels Healthier diet Give up smoking
Q: Which of the following aspects of your lifestyle would you like to improve?
Q: How large a role does healthy living play in your lifestyle?
Fig. 15: Lifestyle improvement wishes
Fig. 14: Role of healthy living in lifestyle
1 OECD. 2020. Obesity Update 2017. [online] Available at: [Accessed 18 August 2020].22 Theme 1 – Fitness for Life ReMark Global Consumer Study 2020-21 23
Health and fitness levels Food for thought
This year’s Global Consumer Study found evidence that respondents are taking steps to increase the amount of exercise Answers to questions on diet show most people take a health-conscious approach to what they eat. Just under
that they take. More than half of respondents (52.9%) are exercising for 20 minutes or more at least three times a week, half of consumers say they eat healthily most of the time and a further 38.2% say that they do so some of the
with 18.8% claiming to do so more than once per day. Unsurprisingly the amount of exercise taken varies by age, with time (Fig. 18). Just 2.7% have no interest at all in the health benefits of changing their diet. This is broadly similar
Gen Z and millennials more likely to work out three times or more each week than the older generations (Fig. 16). to the findings of our 2019 report, though this year there is a marginal increase in the numbers paying little or no
attention to their diet.
2019 2020
Similar to how people perceive the idea of 2019 2020
“healthiness”, the perception of a healthy
58.0% diet may differ from culture to culture.
Eat healthily 49.5%
55.0%
54.8% Japanese and Koreans are the least likely most of the time
51.8%
52.9%
to claim that they try to eat healthily, but 47.2%
51.1%
49.8% what they consider a normal diet may well
53.8% 50.1%
be viewed as “very healthy” by consumers Eat healthily 37.4%
in other countries. some of the time
38.2%
47.6%
45.8%
This year 61.6% of respondents are getting 9.9%
Rarely give it
the recommended 7 to 9 hours of sleep. a thought
11.9%
38.2% The global average is 7.1 hours — much the
same as reported last year. The average
Gen Z Millennials Gen X Boomers Silent Generation Global Average reported hours of sleep were within the Do not care
3.2%
recommended range in almost all countries 2.7%
Q: How often do you exercise for more than 20 minutes? and in every generation except the baby
Fig. 16: Exercise more than 3 times a week boomers (6.9 hours). Japan was, again, an
exception, with respondents reporting an Q: How much does health consciousness play a part in your diet?
average of just 6.4 hours of sleep per night. Fig. 18: Healthy consciousness in dietary choice
2019 2020 One of the most notable findings was the increase in exercise
frequency among the silent generation. In 2019, 38.2% said
they exercised three or more times a week. This year, that 2019 2020 Getting proactive
Less than
17.3%
figure has increased to 51.8%. We must be careful, though, with health
2000
steps to jump to any major conclusions. Only around 250 people 30.1%
14.3%
Regular medical
from the silent generation were surveyed, and most are from Setting lifestyle goals can be easy,
check-ups 34.3%
Sweden (newly added to the study this year). but keeping up the motivation is
a different challenge altogether
This is also consistent with a recent wearable activity study 25.6% (did someone mention New Year’s
2000-5000 Health and
steps 34.6% published by Garmin. Logged activities for physical exercise wellness app 30.0% resolutions?).
32.2% in April 2020 were up 24% worldwide year-on-year, in spite of
restricted movement due to lockdowns. Consumers appeared Peer 24.1% The survey respondents identified
to be rather creative at converting their gym-based workouts to encouragement/
22.7% medical check-ups as a key motivator.
pressure
home-based exercise.2 Whether or not they are effective in
5000-10,000 maintaining consistent improvement,
11.8%
steps 26.8% On a more general front, we see a further indication of Lifestyle blog and seeing marked behavioural
30.9% increased levels of activity in the reported number of steps 8.1% change, is more questionable.
taken (Fig. 17). Nevertheless, more than a third
Social media 8.3% (34.3%) of consumers think health
The data reveals another paradox in that the Japanese appear influencer
4.9% check-ups are the most effective
to be the least active. Only 8.1% of Japanese achieve a daily tool in their arsenal (Fig. 19).
step count greater than 10,000, yet the UK — the obesity
More than
10.3% centre of Europe — had the greatest proportion of respondents Q: Which of the following might encourage you to improve your general health?
10,000
steps in this category (17.6%). Fig. 19: Lifestyle improvement tool
13.2%
There is inevitably some doubt about the accuracy of self-
reported step-counts. But 57.5% of respondents said these
numbers come from their wearable device or smartphone.
The numbers of people who based their activity report on
Don’t know estimates, or guesswork, increased with age after millennials.
11.0%
9.4%
Q: On average, how many steps do you walk per day? (e.g. 10 mins of walking is roughly 1,000 steps)
2 Garmin. 2020. The Impact Of The Global Pandemic On Human Activity: A Global Perspective [online] Available at: [Accessed 19 August 2020].24 Theme 1 – Fitness for Life ReMark Global Consumer Study 2020-21 25
We must mention the generational divide. Gen Z and design products and platforms made for a consumer group Wearing it well Wearable Used to Plan to Don’t intend
millennial respondents are very much more inclined to look who are used to digital self-service tools to fulfil their owner have one have one to get one
to health and wellness apps to improve their general health needs. This is a generation that grew up with an app for Moving on to wearables,
(Fig. 20). Digital natives are a significant consumer group everything, be it for banking, delivery or even dating. a theme we’ve followed % exercise for
for the insurance sector. Insurers need to be mindful to for the past few years,
more than 20
mins at least 3 65.2 % 54.0 % 51.0 % 41.7 %
we see consumers who times a week
2019 2020 own wearable devices
perform better across a
range of health metrics,
18.6 % 16.7 % 10.3 % 9.7 %
% take more
37.6 % 37.0 % 29.1% 17.6 % 16.0 % 30.0 % after correlating answers
than 10,000
2020 from different questions. steps a day
(Fig. 22).
It’s not entirely clear
% feels always
if owning a wearable
motivates the user to
and often
energised when 36.3
% 31.3
% %32.5 % 24.8
walk and exercise more, waking up
or whether it’s that
28.6 % 28.7% 24.3 % 19.2 % 10.8 % 25.4 %
2019 these devices appeal
more to those that Q: How often do you exercise for more than 20 minutes? / Q: On average, how many steps do you walk per day? /
Q: In general, when you wake up in the morning do you feel...
Gen Z Millennials Gen X Boomers Silent Generation Global Average lead an active lifestyle,
Fig. 22: Health metrics vs wearable ownership
but nonetheless there
appears to be a clear
Q: Which of the following might encourage you to improve your general health?
correlation between their use and self-assessed levels of exercise. The Garmin study we mentioned before also proved
Fig. 20: Health and wellness app as No. 1 tool to improve general health by generation
that fitness-minded Garmin wearers adequately found ways to increase their activitiy levels during the April lockdowns,
in spite of gym closures.
In this year’s Global Consumer Study, health and wellness mobile apps are particularly popular in India (58.6%), Indonesia 2019 2020
(34.8%), Chile (33.5%), Malaysia (33.3%) and South Africa (32.9%) — all growth markets (Fig. 21).
Wearable take-up 2019
2019 2020
2020
India 58.6% For insurers looking to support
health improvement through the use
Indonesia 34.8%
of wearables, insight into wearable
ownership is essential. Our study found
36.8 %
Chile 33.5%
that uptake continues to rise, albeit slowly. 30.0% 33.9% 34.4% 28.2%
Malaysia 33.3% This year, just over a third of consumers
30.0%
30.0% 33.9%
33.9% 34.4%
34.4% 28.2%
28.2%
say they own a wearable device, with a
Mexico 33.0% further 28.2% expressing an intention
Growth Market
Average to get one. Wearable adoption is
South Africa 32.9%
highest in India, where 72.2% ownership
China 31.4% suggests the market is well on the way to
saturation. Japan has the lowest uptake at
30.0 %
France 29.8% just 13.7%, with 16.2% intending to buy Yes No, but intend to
one (see Figure 23).
UK 29.8% Yes
Yes No,
No,
but
but
intend
intend
to to
USA 28.8%
Global
Average Gen Z Millennials Gen X Boomers Silent Generation Q: Do you own a wearable device that gives
Spain 28.7%
you information about your exercise/heart rate/
Gen
GenZ Z Millennials
Millennials Gen
GenXX Boomers
Boomers Silent
Silent
Generation
Generation
sleeping pattern, etc. (even if you don't currently
South Korea 26.6%
use it) e.g. a Fitbit, Garmin, or Apple Watch?
37.9% 36.5%
25.6 %
Fig. 23: Wearable device ownership
Australia 26.0%
37.9%
37.9% 36.5%
36.5%
Canada 24.4% 43.5% 31.3%
Comparison with last year suggests
43.5%
43.5% No, but 31.3%
31.3%
Ireland 24.0% intend to
that 2020’s steady growth in
Established Market Yes 31.7% 30.3%
Average
No,
get one but
No, but ownership has come from those
Yes
Yes 31.7%
31.7% intend
intendto to 30.3%
30.3%
Germany 22.6%
get one
get one already intending to buy a wearable.
21.2% 18.4% Further, the fact that the numbers
Japan 21.5% 21.2%
21.2% 18.4%
18.4% intending to buy have declined might
Sweden 19.5%
14.9% 14.9% indicate that the popularity of this
14.9%
14.9% 14.9%
14.9% technology may be plateauing.
Q: Which of the following might encourage you to improve your general health?
Fig. 21: Health and wellness app as No. 1 tool to improve general health by country26 Theme 1 – Fitness for Life ReMark Global Consumer Study 2020-21 27
When respondents were asked why they do not have a wearable device, 36.2% described them as an expensive luxury —
price is a key concern, yet again (Fig. 24). With so many put off by the cost, there could be an opportunity for life insurers
to offer policyholders a free or subsidised wearable device as a means to encourage and support healthier lifestyles.
29.7%
Not necessary
23.3 %
I don’t believe
they are useful
10.6 %
Personal data
security concerns
36.2%
Expensive
8.6 %
I don’t know
luxury
they existed
4.6 % 42.7%
Not interested
Don’t know
Health-adjusted premiums
1.6 %
Don’t use it
The most popular option is, handily, the one reduced premium is becoming a viable option in
principle — though needless to say it must be
over which insurers have the greatest control —
anymore / Other
discounted insurance premiums. This is favoured done in the right way.
by 68.8% of respondents. Growth markets tend to
Insurers already have the capability to take data
Q: If ‘no’ (No and I am not intending to get one), what are the reasons why you do not own one of these devices? top this chart, with consumers from India (84.5%)
from policyholders’ wearable devices to assess
Fig. 24: Reason for not owning and not intending to own a wearable device and South Africa (81.0%) showing the strongest
the impact of their lifestyle activity on risk. Whilst
preference for premium discounts (Fig. 26).
this insight is primarily used to engage with a
Rewarding healthier lifestyles As the application of health technology in
policyholder and provide motivation to lead a
healthier life, the availability of this data makes it
the insurance sector becomes increasingly
As well as providing finding ways to support policyholders Understanding what is and isn’t valued is key to providing possible to offer greater fluidity around premiums,
sophisticated, the possibility of recognising a
looking to make healthier lifestyle decisions, insurers can a compelling proposition. To gauge consumer opinion giving policyholders a financial incentive to
policyholder’s lifestyle improvements through a
— and do — also use rewards to provide incentives for globally, we asked which of a range of incentives would be improve their lifestyle.
healthy behaviour. The nature of these rewards can vary appealing as a potential reward for physical activity.
from free coffee and cinema tickets to insurance premium
discounts. Most are regarded as attractive or very attractive by
at least 60% of respondents. The exception is charity
84.5%
81.0%
The effectiveness of these motivators will differ from donations, cited by less than half of respondents (Fig. 25).
76.3%
73.2%
person to person. This makes it essential to offer a variety.
72.8%
72.7%
72.6%
70.9%
70.3%
70.0%
69.6%
68.8%
68.7%
67.3%
64.4%
59.0%
56.3%
54.6%
54.0%
68.8 % 67.0 % 63.7%
Insurance premium Free cover to friends Retail
discounts and family discounts
61.4 % 46.5 %
Global Average
South Africa
South Korea
Indonesia
Germany
Malaysia
Australia
Canada
Sweden
Ireland
Mexico
France
Japan
China
Spain
Chile
India
USA
UK
Extra investment returns Charity
e.g. savings, mortgage donations
Q: How appealing are the following as a potential reward from your insurer for physical activity?
Q: How appealing are the following as a potential reward from your insurer for physical activity?
Fig. 26: % of respondents very attracted or attracted to premium discount
Fig. 25: Reward attractiveness (attractive and very attractive)28 Theme 1 – Fitness for Life ReMark Global Consumer Study 2020-21 29
2019 2020
55.0 % 61.3 % 46.2 % 29.5 % 21.8 %
52.8 % 58.4% 41.9 % 26.7 % 16.4 %
Gen Z Millennials Gen X Boomers Silent Generation
Q: If an insurer were able to monitor your wearable data (steps, heart rate, sleep) and discount your policy premium
based on your activity, would you like to try this feature?
Fig. 28: % of respondents willing to share wearable data for premium discount by generation
Looking through a generational lens, younger generations are more open-minded about the possibility, with 61.3% of
millennials and 55.0% of Gen Z in favour. The silent generation is more conservative with just 21.8% happy to share
data in return for the possibility of premium discounts. As disappointing as this may be, it is a significant increase on
the 16.4% reported by this segment from last year (Fig. 28).
India
South Africa
China
South Korea
Mexico
Malaysia
Indonesia
Chile
Global Average
Spain
Ireland
Japan
USA
UK
Australia
Canada
France
Sweden
Germany
Tweaking the question to ask about sharing data with insurers in return for
ongoing financial or health rewards such as cashback, wellness education and
coaching or financial education, rather than premium discounts, we found willing to share health
and wellness data
much more support among our respondents. Around two-thirds of consumers
answered positively to this question (Fig. 29).
Q: How willing would you be to share your
wellness or wearable information with a life
Q: If an insurer were able to monitor your wearable data (steps, heart rate, sleep) and discount your policy premium based on your activity, would you like This may be due to the fact that some insurers are already offering this type
to try this feature? insurance company in return for possible
of support. It may also be that consumers are accustomed to the certainty of
Fig. 27: % of respondents willing to share wearable data for premium discount by country ongoing financial or health rewards (e.g.
a fixed insurance premium — and could be nervous that if they didn’t stick to cashback, wellness education and coaching,
a healthy regime, their premium would increase. financial education and coaching)? Even if
you do not have a life insurance policy, we
Time to share are still interested in your response.
Fig. 29: Data sharing willingness
We understand that this represents a significant shift away from the traditional ‘transactional’
role of the insurer. It raises the question of how comfortable policyholders feel about
entering into an unfamiliar relationship — and even with an unfamiliar entity, depending
on how much contact they’ve had with their insurer. In order to gauge consumer
sentiment, the study asked whether respondents would be willing to allow an insurer
to monitor their wearable data if it offered the possibility of a discounted premium,
based on their activity.
Just under half of respondents (48. 2%) support the idea — a slight increase
on last year (45.8%). Notably India (83.4%), South Africa (69.6%) and
China (64.1%) seem to be more willing to share data. Others — for
the most part established markets — are more resistant. Interest in
the concept among German respondents is only 29.4%, and there is a
similar lack of support in Sweden and France (Fig. 27).30 Theme 2 – Peace of mind ReMark Global Consumer Study 2020-21 31
key Amid rapid urbanisation in the
past half century, the number of
income protection policies in the UK in 2017,
according to the Association of British Insurers.4
takeawaYs people with mental health issues
has increased dramatically. In 2019,
according to Mental Health First Aid
Aside from the human cost, the WHO estimates
that poor mental health costs developed
countries between 3% and 4% of gross national
product in expenditure and lost productivity.5
(MHFA), it is estimated one in four
• 40.4% of respondents said they have people in the UK (and 792 million Mental health in lockdown
suffered a period of mental distress or worldwide) are experiencing
anxiety that prevented them from doing mental health problems.3 Very few of our survey respondents will have
their usual activities. While 86.1% of been immune to the assault of the Covid-19
respondents believe physical and mental pandemic on the routines of normal life. Many
health are linked, there’s still a long way There is widespread recognition that fitness of would have been in lockdown conditions with
to go for people to be open about mental mind is as critical to our overall wellbeing as severe restrictions on movement and social
health conditions with 66.6% believing physical fitness. That there is a link between interaction at the time we conducted our
there is a stigma around mental health. physical health and mental health is a belief fieldwork. In this alien environment, we might
shared by 86.1% of our survey participants. well expect to find signs of increased levels
• This year we see very fluid stress levels in of stress. The result of the survey are counter-
our survey compared to 2019 — perhaps as It is a significant contributory factor to mortality intuitive in that the proportion of respondents
the pandemic itself has been so dynamic. and morbidity, a fact that makes it a matter of reporting that they were often or always
The younger generations are notably more relevance and concern to life insurers. Mental feeling stressed was 7% lower than in last
stressed in 2020. The causes of stress remain health was the most common cause of claim on year’s survey (Fig. 30).
stable with one obvious exception: health
is cited as a source of stress for 19.2% of 2019 2020
respondents, up from 13.9% in 2019.
• 60.7% of respondents would be happy to
disclose mental health data to their insurers.
Insurers need to respond to the main concern
53.5% 39.0% 41.9% 34.2%
of those who are uncomfortable to do so.
A third of respondents fear disclosure may 41.8% 40.8% 38.0% 37.2%
result in more expensive premiums. The
preferred method of disclosure is through
the anonymity of an online questionnaire NE Asia South Africa South America UK & Ireland
(cited by 36.5% of consumers).
28.3% 35.0% 38.9% 38.1%
35.4% 35.0% 34.8% 32.1%
Theme 2
SE Asia Australia Europe N America
Q: Generally speaking, how stressed you feel?
Fig. 30: Self-assessment of stress level – % of always stressed and often stressed by region
2019 2020
Peace of mind 54.9%
54.2%
51.4%
49.3%
49.2%
47.1%
3 MHFA England. 2020. Mental Health Statistics. [online] Available at: [Accessed 24 August 2020].
4 Association of British Insurers. 2020. Mental Health and Insurance. [online] Available at: https://
www.abi.org.uk/products-and-issues/choosing-the-right-insurance/health-insurance/mental-
health/ [Accessed 2 September 2020].
5 World Health Organisation. 2013. Investing In Mental Health: Evidence For Action. [online]
Available at: https://apps.who.int/iris/bitstream/handle/10665/87232/9789241564618_eng.
China South Korea Japan India
pdf;jsessionid=B3129B812A3FF26141961F03EAE007B2?sequence=1 France Japan
[Accessed 24 August 2020].Germany 28.9% Germany 25.7%
32 Theme 2 – Peace of mind ReMark Global Consumer Study 2020-21 33
Malaysia 28.9% USA 30.6%
Not all countries followed this downward trend. France, India, Indonesia, Malaysia, South Africa and the UK all saw an Causes of stress
uptick in the ‘often or always’ stressed category (Fig. 31). Notable among these is India, with a 28% increase. But, at the
other end of the spectrum, the Indian responses also revealed a 22% increase in those claiming to be mostly or always calm. Survey participants were asked which issues from daily life are more likely to induce stress. The results are very largely
It seems that the Indian consumers we surveyed have become more decisive, with a marked drop in the neutral category consistent with the findings from last year’s survey. Money worries were identified as the most likely potential cause of
who were neither stress, followed by work issues and problems with family or relationships (Fig. 34).
2019 2019 20202020
calm nor stressed.
29.7%
-36.0%
25.8%
China
However the ‘Covid-19 effect’
Spain -21.6%
The above changes is evident in the significant
South Korea -20.5%
by country also increase in the numbers citing vs 2019’s 29.6% vs 2019’s 26.8%
USA -15.9%
altered the global health issues as the most
53.5%
53.5% 39.0%
39.0% -15.8%41.9%
41.9% 34.2%
34.2%
landscape of stress Canda significant potential cause. As Financial issues Work issues
levels. China and
41.8%
41.8% Global Average 40.8%
40.8% -6.8%
38.0%
38.0% 37.2%
37.2% one might expect, health as a
24.1% 19.2%
South Korea, which UK 4.8% cause of anxiety assumes greater
both appeared in our France 6.6% significance with age.
2019 list of theNEmost
Asia
NE Asia South Africa
South Africa South America
South America UK &UK
Ireland
& Ireland
vs 2019’s 25.8% vs 2019’s 14.0%
Malaysia 22.2%
stressed countries, Health is much less of an issue for
Indonesia 24.2%
were notably more the under 55s. At this stage in life Family or Health issues
India 27.7%
relaxed this year and
28.3%
28.3% 35.0%
35.0% 38.9%
38.9% 38.1%
38.1% it is, unsurprisingly, financial and relationship issues
not among our most work issues that are potentially of Q: Which of the following are potential causes of stress for you?
35.4%
stressed consumers. 35.4% 35.0%
Q: Generally speaking, 35.0%
how stressed you feel? 34.8%
34.8% 32.1%
32.1% greater concern (Fig. 35). Fig. 34: Stress causes
Conversely India and Fig. 31: Changes to self-assessed stress level compared to 2019 – % always stressed and often stressed by country
France are included
SE Asia
SE Asia Australia
Australia Europe
Europe N America
N America
on the list this year due to significant increases in stress levels (Fig. 32). It is somewhat interesting to observe that consumers Financial issues Work issues Family or relationship issues Health issues 40.6%
in the USA fall into the least stressed category. It should be noted that the fieldwork for this survey was conducted in May.
Given the rapid development of the pandemic in the USA over the summer, consumers may now have a different mindset.
31.8%
29.4% 30.5%
30.8%
29.0%
2019 2019 20202020 28.0% 28.2% 29.0%
27.8% 26.9% 27.8%
22.2%
21.4% 20.8%
54.9%
54.9%
54.2%
54.2%
17.2%
51.4%
51.4%
49.3%
49.3%
49.2%
49.2%
15.5%
47.1%
47.1%
14.0% 14.7%
30.6%
30.6%
28.9%
28.9%
25.7%
28.9%
28.9%
25.7%
21.7%
21.7%
17.5%
17.5%
Highest % of always
Highest +
% of always + Lowest % of always
Lowest +
% of always + 3.8%
oftenoften
stressed
stressed CHN CHN
KOR KOR
JAP JAPIND INDFRA FRA
JAP JAP oftenoften
stressed
stressed IDN IDNGER GERMYS MYSIDN IDNGER GER
USA USA
Gen Z Millennials Gen X Boomers Silent Generation
Q: Generally speaking, how stressed you feel?
Fig. 32: Self-assessment of stress level – top 3 most and least stressed (always stressed and often stressed) countries
Q: Which of the following are potential causes of stress for you?
Fig. 35: Potential causes of stress by generation
A challenging year for millennials
Analysis of the responses by country shows that for North America and most of Europe it is family and relationships —
Analysis of the responses by age group 47.9%
44.1%
2019 2020 rather than financial worries — which are thought to be most likely to induce stress (Fig. 36).
shows it is only millennials who reported 44.8%
43.1%
41.3%
an increase in stress, though minor. This 37.7%
is understandable given concerns about South Africa 46.9% China 30.0%
the impact on employment prospects 27.0%
Chile 40.6% Germany 25.1%
this year; juggling demands of work and 22.5% 20.0%
home life (home-schooling
-36.0% of children)
-36.0% China
Mexico 37.2% USA 24.5%
China
and further compounded by severe 12.9%
-21.6%
-21.6% Spain
Spain Financial issues Health issues
restrictions on their levels of social
-20.5%
-20.5% South Korea
activity (Fig. 33). South Korea
-15.9%
-15.9% USA USA
France 31.4% Mexico 34.0%
What is less easy to explain is the 35% -15.8%Gen Z
-15.8% Millennials Canda Canda Gen X Boomers Silent Generation
fall in the proportion of respondents UK 30.8% Chile 31.3%
-6.8%
-6.8% Global Average
Global Average
from the silent generation who reported Q: Generally speaking, how stressed you feel?
UK UK UK UK 4.8%4.8% Japan 29.6% China 30.4%
being often or always stressed. By Fig. 33: Self-assessment of stress level
FranceFranceFrance 6.6%6.6%
France
far the greatest risk factor for serious Family or Work issues
Malaysia
MalaysiaMalaysia
Malaysia 22.2%
22.2% relationship Issues
complications of Covid-19 infection is age. It would not have been surprising to see this reflected in increased stress levels
reported by the older age groups, yet this is emphatically not the case. It may be that the impact of the pandemic
Indonesia
IndonesiaIndonesia
Indonesia 24.2%24.2% has
Q: Which of the following are potential causes of stress for you?
triggered an unusual emotional response, but discussion of the possible causes
IndiaIndia is beyond the scope of this27.7%
IndiaIndia report.
27.7%
Fig. 36: Top 3 stress causes by countryYou can also read
