The buying habits of the insurance industry have USA Phone Number List changed in recent years. According to Accenture research , two-thirds of consumers are now willing to buy insurance directly from a provider who is not an insurance professional. And, if they offered it, 23% would even buy from mass-market e-commerce giants like Google or Amazon.

In their quest for better customer experience and value. Consumers have never been more willing to explore a full range of options. But while trends in the insurance business seem worrisome, customers are not ready to give up their insurance agents.

 

Customer experience is key

The key to keeping your business going in such competitive market conditions is to deliver an enhanced customer experience.

In an age where consumers can do everything online, from buying an airline ticket to buying a car, insurance companies must leverage their expertise and customer USA Phone Number service to deliver an experience that builds trust, dependence and loyalty.

McKinsey found that U.S. auto insurers that offer a “best-in-class” customer experience grow their business two to four times faster than companies that don’t offer such an exemplary customer experience. By anyone’s standards, this is a solid return on investment for improving a single business area.

But how exactly does improving the customer experience improve profitability?

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Increased loyalty can make money

Customer acquisition costs are five times higher than retention costs .

In the insurance world, where professionals routinely manage. Tens of thousands of policies across various insurance product lines. the revolving door of high churn can quickly grow into a make-or-break factor. hat determines whether a business fails or succeeds.

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