Three in five of those surveyed for the new research from data analytics firm Boobook said they were planning to review their investment and savings goals in the next six months.

A third of those in the UK were planning on reviewing their retirement plans, and two in five planned to change insurance or protection policies in the next six months.

Of those surveyed, 43% in the UK were planning to keep their long term investments and retirement plans but may make changes.

The Boobook Covid-19 Study found that two-thirds of people in the UK were saving more or the same as prior to the pandemic. For people that have seen a pay cut over the last few months this figure was lower at 43%.

Nicole Huyghe, founder and CEO at Boobook said “While many industries have been badly hit by Covid-19, we may be entering a boom period for the financial industry. However, it could also potentially signal a lot of churn within the sector, so companies with the best insight into their customers have a huge opportunity if they play it right.”

The study was conducted in May via an online panel surveying a nationally representative sample of 4,500 participants in the US, UK, France, Germany, Spain, Belgium, China, South Africa and Brazil.