A red and white life buoy.

On-demand Insurance in Italy: How Common Is It?

Is on-demand insurance popular in Italy? And how do Italians feel about insurance? N26 and Doxa surveyed over 1,000 locals—here’s what we discovered.

4 min read

Life is full of surprises, big and small. In unexpected situations, insurance policies can provide real peace of mind, letting you know that you’re protected against unforeseen costs. Thanks to technology, insurtech companies now offer convenient, online insurance policies, giving customers greater flexibility and more choices when it comes to protecting the things they care about. But how much do Italians know about these on-demand insurance products, and what is the general attitude toward insurance in Italy? To find out, N26 and Doxa surveyed over 1,000 Italian citizens, ages 25 to 55 across a wide range of demographics—including employees, freelancers, unemployed, and as well as single individuals or couples with children—in September 2021. Here’s what we found out.

First, what is on-demand insurance?

On-demand insurance is coverage that can be purchased online without involving an insurance broker or a representative of an insurance company. Instead, on-demand insurance allows you to customize your coverage according to your own personal needs, and purchase it online directly from a website or an app. These flexible digital insurance products are increasingly becoming popular around the world, and are usually offered by innovative digital platforms in collaboration with insurance groups.

The appeal of on-demand insurance is clear—it’s fast, and simple. It’s now possible to insure commonly-used devices or other things you love with just a few taps on your smartphone. On-demand insurance also offers added flexibility in comparison to traditional insurance policies, as it’s common to buy coverage for short periods of time, or for a specific situation—such as an overseas trip, or a rented car. Contrary to more traditional insurance coverage, on-demand insurance allows you to customize the coverage according to your needs, on your terms. You can even cancel the coverage at any time without any penalties.

Are Italians familiar with on-demand insurance?

On-demand coverage is a relatively new product in the insurance industry, and yet it seems to have caught on in Italy. Out of over 1,000 Italians who took part in the survey, 45% of respondents claimed they’d heard of on-demand insurance, while a further 17% of respondents said they are very familiar with on-demand insurance.

The general attitude toward insurance in Italy

The survey results highlight one aspect in particular—Italians are concerned about the future, especially in the context of the global COVID-19 pandemic. Out of over 1,000 respondents, 78% said they remain very cautious when it comes to purchasing or making choices about insurance policies.

When it comes to managing their insurance policies, only 5% felt they were “very competent,” but there is a general preference to act independently without relying on professionals. 32% say they always make independent decisions when it comes to insurance, while 51% say they do so most of the time.

The most interesting insurance categories for Italians today

So, which types of insurance do Italians find most interesting?

Electronic devices. Electronics insurance protects your laptop, smartphone, tablet, or smartwatch against theft, breakdowns, liquid damage, and accidental damage—including the dreaded shattered screen. Thanks to electronics insurance, you can easily repair or quickly replace your valuable devices.

House. Home insurance protects your home and your family, possibly even temporarily or for short periods of time. Home insurance covers your family members’ civil liability, and protects you from unexpected costs in the case of fire, theft, or damage to your home caused by weather, burglary, electrical problems, water leaks, and vandalism.

Rental cars and car sharing. The sharing economy is now well established in our everyday lives, with many people choosing to rent cars, scooters, or even apartments on a short-term basis only when necessary. Car sharing and rental car insurance protects you in these scenarios, by reimbursing you for any accidental damage to shared cars, bicycles, scooters, and electric scooters.

Travel and travel healthcare. Travel and travel healthcare insurance provides medical emergency coverage for you and your family while overseas—including emergency dental treatment and winter sports accidents—as well as reimbursements in case of flight delays, baggage loss, or trip cancellations.

Pets. Pet insurance provides coverage for vet expenses, plus damages caused by your pet to another person or their property such as biting and scratching someone, or causing an item to fall off the shelf.

Your N26 Insurance

At N26, we believe that your bank should do more than just safeguard your money. That’s why on-demand N26 Insurance is available with every bank account to help protect the things you love. Sign up with zero paperwork, only pay for what you need, and manage your coverage with just a few taps—all in your N26 app.

Find similar stories

By N26

Love your bank

Advertising message for promotional purposes. Please see the Terms & Conditions for more information.

Related posts

These might also interest you
Person with cat on pink couch.

Solo, pal, or pet dates: Doing Valentine's Day, your way

Whatever your relationship status, here’s how to celebrate love in all its many forms this Valentine’s Day.

A group of friends sits on a bench outside.

How to start saving as a group

Saving for something new can be tough, but having a joint savings goal can increase motivation — and be more fun.

Wedding flowers on an arch.

To tie the knot or not: what marriage means for your finances

These days, people have all kinds of important factors to consider before saying "I do." Here, learn about some of the financial benefits and drawbacks of getting married.