Today's insurance customers expect high-touch, personalized service. (Photo: iStock) Today's insurance customers expect convenience along with high-touch, personalized service. (Photo: iStock)

"Disruption" has become one of the most commonly seen terms in the insurance industry. With market "disruptors" such as InsurTech startups looking to get their share of insurance profits, traditional insurers are looking for ways to "disrupt" back by reducing their customer churn, as it costs five times as much to attract a new customer than to retain one.

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