Industry to bolster ongoing efforts to elevate customer trust through strategic roadmap
Singapore, 24 April 2026 – The Insurance Culture and Conduct Steering Committee (ICCSC) today announced latest findings from the Insurance Trust Indicator Study (ITIS) 2025, which observed general downward shifts in customer trust levels across the life and general insurance sectors. The findings provide useful insights to inform industry efforts to continue strengthening culture and conduct and building trust and confidence among consumers.
The study found that weaker scores in the areas of Integrity, Competence, and Dependability contributed to moderate declines in consumer trust towards life insurers. For general insurers, declines in scores relating to Accountability, Dependability, and Competence contributed to a similar decline in trust levels.
The study also identified priority drivers that correlated most strongly with trust scores and whose scores were significantly weaker among customers with low trust levels.
• In life insurance, key drivers included clear communication (e.g. clarity on what policies do and do not cover, the use of plain language), staff conduct and expertise, and effective issue resolution.
• In general insurance, claims-related drivers (e.g., clear explanations on how to make a claim, empathetic support during claims) as well as staff conduct and expertise, were particularly important.
The findings from ITIS 2025 will inform the ICCSC’s development of a strategic roadmap in consultation with the insurance industry associations and their members to ensure effective implementation. These insights will help ICCSC to prioritise its initiatives and shape targeted actions tailored to different customer demographics.
Among the industry’s key initiatives is the establishment of the Fair Dealing Subcommittee under the ICCSC. The Subcommittee will seek to enhance industry standards, implement fair dealing practices, and deliver fair dealing outcomes for customers and policyholders.
“In insurance, trust is the foundation of a strong and resilient industry. As customers become more informed and discerning, earning their trust is essential for long-term success. Findings from the latest study serve as the voice of the consumer and provide clear indication to the industry of the concerns most salient to them.
It is clear that customers of insurers expect more from us. We must continue to uphold our promise and responsibility to them. The industry is committed to taking decisive and sustained action to elevate consumer confidence and trust, and deliver meaningful and lasting improvements for customers,” said Ms Pearlyn Phau, Chairperson of the ICCSC.
