Click here to download the 2024 Annual Pulse Report.
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First, let’s take a look at the number of consumers who pay bills within the insurance industry.
Question: Please select all of the bills for which you personally have submitted monthly payments over the past 12 months.
Question: Please select all of the bills for which you personally have submitted monthly payments over the past 12 months.*
*Subscriptions and Higher Ed began to be measured in 2020.
Now we’ll explore trends in the insurance industry for payment “channels,” or the different ways a payment can be delivered or received.
Question: Within the last 12 months, which of the following payment channels have you used to make a majority of your one-time payments for the following bills?*
*Virtual Voice Assistant began to be measured in 1H 2020, while Text Message began to be measured in 2H 2020.
Question: What is your preferred channel for making one-time bill payments?*
*Virtual Voice Assistant began to be measured in 1H 2020, while Text Message began to be measured in 2H 2020.
Question: Which of the following channels did you most recently use to set up recurring payments for each of the following bills?
Question: What is/would be your preferred channel for setting up recurring bill payments?
Here are the latest trends in the insurance industry for payment “methods,” or the forms of money or currency that can be used to pay bills.
Question: Within the last 12 months, which of the following payment methods have you used to make a majority of your one-time payments for the following bills?
Question: What is your preferred method for making one-time bill payments?
Question: Within the last 12 months, which of the following payment methods have you used to make a majority of your recurring payments for the following bills?
Question: What is your preferred method for making recurring bill payments?
And finally, we’ll explore trends in the insurance industry for how consumers prefer to receive their billing statements and notifications when a bill is due.
Question: How do you currently receive your billing statements for the following bills?
Question: How do you prefer to receive your billing statements?
Question: In general, which of the following do you prefer most when it comes to receiving your bill notifications / reminders?
Take a look at trends in disbursements, or the money consumers are receiving from their billers and other companies where they’ve purchased products or services.
Question: Not including income tax refunds or stimulus payments from the government, have you received any payments from companies you have purchased products or services from? This can include refunds or rebates of any kind.
Question: Please select all of the payments that you have received.
Question: How did you receive your payment? If you received multiple payments, please think of the most recent payment.
Question: Did you experience any issues in receiving your money?
Question: Please select any kind of issue(s) that you experienced.
Question: Did the company that paid you give you a choice in payment method?
Question: If you were provided a choice, how would you prefer to receive a payment?
Source: ACI Worldwide, ACI Speedpay Pulse, 2024
https://pulsereport.aciworldwide.com
The ACI Speedpay Pulse is a longitudinal consumer billing and payment trends research study conducted by Brownstein Group in partnership with ACI Worldwide.
Each ACI Speedpay Pulse data set includes responses from a survey of at least 3,000 unique respondents (no repeat participation within a one-year period). Each survey sample is U.S. Census-balanced among adults age 18 and older who are responsible for submitting payments for at least two of their household’s monthly bills. Survey margin of error is less than 1.8 percent for questions answered by the entire sample. Questions with a smaller base will have a higher margin of error. If presented, stat testing is at the 95 percent confidence level.
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You can utilize the filter options available in each chart to view the consumer survey data in a variety of ways. Many charts will provide side-by-side comparison tools so that you can compare one set of data on the left with another set of data on the right. While the filters may vary by chart depending on the data available, here are the different filters you may be able to apply: