U.S. Home Insurance: Get Connected to Build Customer Loyalty

Carriers must find new and innovative ways to connect with their policyholders in order to drive loyalty and retention, according to a new Aite Group report

Boston, MA (June 10, 2020) – With increasing costs, customer retention is becoming a key battleground for traditional carriers, and home insurance policies can provide an opening for carriers to build relationships with their customers like never before. Consumers are discovering the benefits of connected devices, which are creating new data streams for insurance carriers to use for customer engagement. The latest Aite Group report, U.S. Home Insurance: Get Connected to Build Customer Loyalty, explores how matching the use of connected devices with personalized advice programs can increase communication points with customers, enabling better marketing and claims efforts while building trust.

“Carriers looking for additional contact points can leverage the connected-device ecosystem to provide more value for customers through personalized advice and information,” states Greg Donaldson, senior analyst with Aite Group.

The report provides insights on homeowners and renters insurance policyholders’ ownership and use of connected devices and their willingness to share this information with their insurance carrier. It is based on a Q1 2019 Aite Group online survey of 766 U.S. policyholders who were asked about their thoughts concerning connected devices and technology.

Click here for the online summary or to download the table of contents.

The report provides insights on homeowners and renters insurance policyholders’ ownership and use of connected devices, and their willingness to share this information with their insurance carriers. It is based on a Q1 2019 Aite Group online survey of 766 U.S. policyholders who were asked about their thoughts concerning connected devices and technology.

This 39-page Impact Report contains 37 figures and one table. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

Click here for the online summary or to download the table of contents.

This report mentions ADT, Amazon, American Family Insurance, Apple, AXA, Ecobee, Elgato, Ferguson, Fitbit, Flo, Gardena, Google, Honeywell, innogy, Jawbone, Lifeshield, Munich Re, MyFitnessPal, MyFoodDiary, Nest, OnStar, Panasonic, Ring, Roost, RunKeeper, Samsung, Simplisafe, Tacx, and Weight Watchers.

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 Group