If the administrative phobia of a famous Budget Minister hit the headlines in 2018, he is not alone.
A third (37%) of French people are indeed distressed by the management of all the daily paperwork, according to a recent survey carried out by the Yougov institute on behalf of Lovys.com, a 100% digital neo-insurance.
More surprisingly, the younger generations seem to be the most sensitive on the subject, since 49% of 18-34 year olds questioned report this phobia.
Delay and renouncements
The reason ?
It is not surprisingly the complexity of traditional procedures that is the cause for 45% of the entire panel and 49% of the millennials questioned.
Contracts that are as long as an arm, and most of the time unread, often include information that is difficult to understand - and yet decisive - which ultimately make the customer journey opaque.
As a result, among the 1,000 or so people questioned, 46% are late in carrying out their administrative tasks (compared to 55% for 18-34 year olds) and 27% have already given up on terminating a contract because the procedure was too complex. (31% for young people).
Not the right needs
Consumers are also well aware of the problem since 29% of millennials surveyed claim to be still engaged in contracts no longer corresponding to their needs (insurance, streaming services, telephony, etc.), after having given up canceling them because of the complexity of the procedure.
Riding on this observation, many fintechs are entering the market by offering simpler models thanks to dematerialization.
But if it becomes easy to change your contracts, it is nonetheless necessary to read them carefully.
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