Are digital insurance sales alienating customers?

Bain & Co. research shows insurers may be investing heavily to please the wrong customers.

By Hannah Bender | Updated on July 29, 2014

A report from Bain & Co. suggests that many carriers are getting their digital investments wrong in the U.S. property and casualty insurance market, and as a result, alienating some of their most valuable customers in the process.

While many carriers may be getting carried away by the digital tide, Bain’s ”Customer Loyalty in P&C Insurance: US Edition 2014” suggests that these companies are investing to please the wrong customers. The study shows that digital-only customers are the least valuable in terms of loyalty, and suggests that insurers should focus their investments in a multichannel approach that emphasizes the human touch, not just their website.

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