It is more imperative than ever for carriers to retain their policyholders, and deepening policyholder engagement is a key tactic: Aite Group
Boston, MA (Apr. 24, 2018) – Aite Group’s newest report, Enhancing the P&C Insurance Policyholder Journey Through Deeper Engagement, analyzes P&C carriers around the world and how they are facing a slow-growth market rife with intensifying competition, shifting consumer demands, and a consumer pool filled with people who have the ability to switch carriers with a few clicks and swipes. These are not easy problems to solve; however, carriers do have one option at their disposal that gives them more of a fighting chance to solve these problems: policyholder engagement.
“In general, a P&C insurance carrier has a limited number of opportunities to interact with a policyholder, so it is critical that P&C insurance carriers execute these transactions skillfully and with their policyholders in mind,” explains Jay Sarzen, senior analyst at Aite Group. “The upshot of the changing P&C insurance environment is that policyholder retention has taken on a new level of importance to carriers as a way to defend against slow growth and high policyholder acquisition costs,” he adds.
This new Aite Group Impact Report examines how some carriers can assume some aspects of the traditional agent-policyholder relationship to create a more direct and stronger bond with policyholders through better policyholder engagement. It is based on 35 interviews with executives at some of the leading P&C insurance carriers in the United States and executives from vendors based in the United States and Europe who offer solutions that can help carriers deepen policyholder engagement.
To request a press copy of this report or to speak with Jay Sarzen about this topic, please contact [email protected].
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.
Source: Aite GroupTags: Aite Group, engagement