A survey of personal-lines insurance customers indicates that insurers and agents need to focus on the younger generation of buyers to grow market share, or risk losing this generation to online-only writers.
Consulting firm Deloitte released a 23-page report detailing the results of an online survey of 1,080 auto policyholders and the same number of homeowner's policyholders, exploring their relationship with personal-lines insurance markets.
Deloitte says a key lesson from the report, titled "The Voice of the Personal Lines Consumer: Buyers in the Driver's Seat," is that insurers need to "get consumers while they're young."
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