If the administrative phobia of a famous Minister of the Budget hit the headlines in 2018, he is not alone. A third (34%) of the French are indeed anxious 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 neo insurance 100% digital.
More surprisingly, the younger generations seem to be the most sensitive on the subject, since 46% of 18 – 31 years questioned state of this phobia.
Delay and renouncing
The reason? It is not surprisingly the complexity of the traditional procedures that is at issue for 45% of the entire panel and 49% of millennials surveyed. Contracts that are as long as an arm, and most of the time not read, very often include information that is difficult to understand – and yet decisive – which ultimately make the customer journey opaque.
Result, among some 1. 000 people questioned, 45% are late in accomplishing their administrative tasks (versus 55% for 18 – 34 years) 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 still be engaged in contracts that do not correspond more to their needs (insurance, streaming services, telephony, etc.), after having waived the cancellation owing to 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.