Customers do not switch despite premium increases

Health insurance premiums represent a high average financial burden for the population living in Switzerland, as the authors of the “Swiss Insurance Monitor 2024” announced on Monday. Overall, 89 percent of the 1,009 respondents to their survey, which was conducted in collaboration with Yougov, were affected by a premium increase.

Although many people find the burden of health insurance premiums to be high, almost a third of those with health insurance have not done anything about it despite the premium increase. One in five said they had considered switching. However, only 5 percent of all respondents who will have to pay a higher health insurance premium in 2024 have actually changed their health insurance provider. 8 percent changed their police within the same health insurance provider.

3 percent changes the police

About half of those surveyed are also paying more for property insurance this year. However, the perceived financial burden of premiums has declined over the course of the year, according to the statement. Among those insured for property whose premiums were increased, over 40 percent did so, almost one in five percent considered switching, 3 percent changed police and 4 percent changed provider.

The survey was conducted online among 1,009 people living in Switzerland. The survey took place between June 4 and 12, 2024 and is, according to the press release, representative of the Swiss population. The “Swiss Insurance Monitor 2024” is part of the Swiss Consumer Studies of the Institute for Marketing and Analytics (IMA) at the University of Lucerne.