Growth is one of the most important KPIs for P&C insurers. Increase in new customers, a number of policies in force, and the gross written premium will showcase a direct reflection. (Photo: Elnur Amikishiyev/Adobe Stock) Growth is one of the most important KPIs for P&C insurers. Increase in new customers, a number of policies in force, and the gross written premium will showcase a direct reflection. (Photo: Elnur Amikishiyev/Adobe Stock)

Customer acquisition cost (CAC) is one of the major expenses for any enterprise, including insurance carriers. The average expense of an organization to acquire a new customer is five times more than to retain an existing customer.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Claims Technology
Analytics & Data
Artificial Intelligence