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Help insureds more closely consider the worth of the personal insurance products they are buying.

Years ago, a memorable Mercedes-Benz advertisement reminded readers that, in order to determine the true value of a car, consumers should focus not on what a car costs but on what the car is worth.

If distinguishing between cost and worth is challenging in the auto industry — featuring products that are so tangibly different — is it any wonder that the insurance industry finds this challenge even more difficult? Compounding this difficulty are advertising campaigns crafted to exploit the human tendency to simplify buying decisions by promoting the myth that personal insurance products are a commodity.

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