Insurers are not keeping up with consumer expectations — andtheir customers are not sticking around long enough to give themthe opportunity to prove otherwise.
We in the insurance industry have read the abysmal rankings incustomer experience satisfaction scores and know that customerloyalty is at an all-time low.
Customer churn because of declining loyalty and poor customerexperiences represents as much as $470 billion in Life and Property& Casualty premiums globally. This is according to Accenture's 2015 Global Consumer PulseResearch, which analyzed responses from more than 13,000P&C and Life insurance customers in 33 countries.
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