Insurance Disbursements Brief 2022
February 9, 2023
Consumers received $1.37 trillion in insurance claim payouts in 2022.1 Of that amount, $277 billion, or 20%, was sent using instant payment rails — the most since 2018. When given the choice, consumers opted for instant insurance claims payouts 23% of the time — also the highest share since 2018.
Despite this soaring demand, many insurers have eliminated instant payment options. Companies gave consumers the option to choose instant payouts for 62% of the disbursements they received in 2022, far less than was seen in 2021.
For the Insurance Disbursements Brief 2022, a PYMNTS and Ingo Money collaboration, we surveyed a census-balanced panel of 2,421 consumers between June 9, 2022, and June 23, 2022, about their receipt of insurance disbursements in the last 12 months to better understand their preference for instant claims payouts.
Download the resource to see what we learned.
- // TAGGED
- Research
// Related Resources
-
Insurance Disbursements Brief 2022 When given the choice, consumers opted for instant insurance claims payouts 23% of the time — the highest since 2018.
-
The FinTech Fraud Ripple Effect The FinTech Fraud Ripple Effect details the frictions customers experience when using FinTechs for their money mobility needs.
-
The Role of Fintech Banks FinTech banks are most popular among bridge millennials, low-income consumers and paycheck-to-paycheck consumers.