UK Insurance Sentiment Index 2023

Consumers use social platforms to voice their daily experiences - whether positive or negative - around products and services. For the UK industry, this provides a vast, often untapped data pool which can be structured and analysed in real time, delivering immediate feedback. For the second consecutive year, PwC and DataEQ have collaborated to gain a deeper understanding of the key themes driving consumer sentiment from social media data.

Given the new regulations that have recently come into effect, this year’s report is presented with a special focus on the role that social media data can play in Consumer Duty compliance within the United Kingdom’s insurance industry. This index offers insight into consumer sentiment towards 15 of the country’s insurers. We tracked 300,000 public online mentions across 15 major UK insurance brands from 1 July 2022 to 30 June 2023.

This year’s UK Insurance Sentiment Index highlights a pivotal shift in the insurance landscape, marked by intensifying consumer voices amidst economic uncertainties and regulatory change. There is an opportunity for firms to proactively drive more positive sentiment on social platforms and build trust in the public eye over time. It can also play a role in demonstrating where good outcomes are being achieved, a key requirement under Consumer Duty.