How life insurers can attract old customers and keep new ones

April 3, 2014 by Brian DeMaster

Life insurance customers are more demanding than ever, and those who don’t get what they want find it easier than ever to switch providers.

Accenture research indicates that one in 10 life insurance customers will take out a new life insurance contract with a new provider within the next twelve months, and that seven percent of customers are very likely to stop doing business with one of their insurance providers over that same period.

While life insurance is less volatile than property and casualty insurance – where research shows that 40 percent of customers are likely to switch providers in the next 12 months — there is still an enormous amount of premium income at risk in what we call the “switching economy”.  Click here to read…

Originally Posted at LifeHealthPro on April 3, 2014 by Brian DeMaster.