The future of the home and auto insurance bundle, once a mainstay of property and casualty (P&C) insurance customer retention and lifetime value strategies, is in doubt as legions of customers begin to split their policies. Rapidly rising auto insurance premiums, according to the J.D. Power 2022 U.S. Home Insurance StudySM, are largely to blame… Continue reading High Auto Insurance Premiums Hurting Product Bundling
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Small Business Insurance Customer Satisfaction Bounces Back: JD Power
During the pandemic, a toxic combination of business disruption and economic uncertainty strained the relationship between small businesses and their commercial lines insurers, causing customer satisfaction to fall for the first time in seven years beginning in 2020. That trend has reversed, according to the J.D. Power 2022 U.S. Small Commercial Insurance StudySM, which was… Continue reading Small Business Insurance Customer Satisfaction Bounces Back: JD Power
Direct and Independent Agent Sales Channels Become Ground Zero in Auto Insurers’ Battle to Win New Customers
With just 2-3% of new customers entering the personal lines auto insurance market each year, insurers have only one option when it comes to growing their business: taking market share from competitors. According to the J.D. Power 2019 U.S. Insurance Shopping Study, success in driving new customer acquisition comes down to having a strong brand… Continue reading Direct and Independent Agent Sales Channels Become Ground Zero in Auto Insurers’ Battle to Win New Customers