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