A recent report by Thales reveals that, despite a global decline in digital trust, the insurance sector has managed to maintain or slightly increase consumer confidence.
The 2025 Digital Trust Index – Consumer Edition, based on a survey of over 14,000 consumers from 14 countries, underscores growing concerns over data security, with 22% of Singaporean consumers reporting that their personal data had been compromised in the past year, surpassing the global average of 19%.
This surge in data breaches has contributed to 85% of Singaporeans abandoning brands due to data privacy concerns over the past 12 months. However, in an otherwise declining landscape of digital trust, the insurance, banking, and government services sectors were the only exceptions to this trend.
In Singapore, the insurance industry has managed to preserve consumer trust, aligning with banking and government services, even as global digital trust falters. This stability is reflected in the findings that 88% of Singaporean consumers are calling for stronger data privacy rights, while 62% believe that the responsibility for data protection is unfairly placed on consumers instead of companies.
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