Adyen x EY Report US

Redefining insurance with smarter payments

 In an era defined by rapid digital advancements, the insurance industry faces a pivotal moment. This report, a collaborative effort between EY and Adyen, dives deep into the evolving landscape of payments within the United States insurance sector.

In this report, you’ll discover: 

  • Why customer expectations are changing in the digital era 

  • How insurtechs are outpacing legacy players with payments technology 

  • How modernizing payments can lower payment costs and reduce fraud

Read on to explore key trends, customer expectations, and actionable strategies for insurers to thrive in the digital age.

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Key highlights

Many insurers underestimate the role of payments and its impact on customer retention, fraud reduction, and staying competitive in an evolving industry.

92%

of customers want to use credit cards, debit cards, or digital wallets to pay online

28%

of customers are frustrated by inputting card details manually when making their purchase online

69%

69% of insurance professionals believe the sector lacks leading payment capabilities

37%

of insurers have experienced policy cancellations due to payment issues

"Many insurers have a payments blind spot. They don’t realise that modernising online payments could drive significant benefits for their business in terms of selling more policies, reducing operational costs, and driving down fraud."

Adrian Davis

Commercial Leader, Financial Services and Insurance, Adyen

Get the full report

In this report you'll discover:

  • Why customer expectations are changing in the digital era

  • How insurtechs are outpacing legacy players with payments technology

  • How modernising payments can lower payment costs and reduce fraud