The P&C insurance industry is experiencing unprecedented change and potential for disruption. Customers are empowered in the shopping and servicing of their policies like never before. Customer experience leaders from outside of the insurance industry, such as Amazon and Netflix, continue to set a high bar in terms of digital interactions and increasingly shape customers' expectations that impact how they view their experience with insurance providers.
Compounding the issue, the personal lines auto industry is facing an uphill battle in terms of profitability after two consecutive years of combined ratios over 100%, and the market is tighter than ever with just 2% of new customers entering the personal lines auto insurance market in 2017.
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