Auto and home insurers might have a tough road ahead of them when it comes to expanding market share organically, but there are growth strategies they could pursue to capitalize on the evolving needs of today's increasingly tech-savvy personal-lines consumers.
The challenges facing carriers and how to overcome them have been discussed here in a series of blogs over the past few months, based on the results of a pair of Deloitte Research surveys of 1,080 auto consumers and a separate group of 1,080 homeowners' policyholders, summarized in a report on "The Voice of the Personal Lines Insurance Consumer: Buyers in the Driver's Seat."
The good news for those carriers worried about retaining business they already have is that the two groups surveyed expressed high levels of satisfaction with both the price they pay for insurance and the services they receive, regardless of whether they buy coverage through an agent or directly from a carrier.
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