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Attract devoted customers with tailored insurance
The landscape of the insurance industry is changing. As marketplaces mature and consumers become increasingly tech-savvy, insurance providers can no longer simply cycle through unsatisfied customers. Indeed, an insurance company can spend as much as seven times more to attract each new customer than it spends to retain an existing customer. What’s more, customer loyalty can be unreliable, with policyholders willing to cycle through insurers to find their perfect fit. To succeed, insurance providers must attract customers by offering unique plans, building long-term relationships, anticipating problems and proactively meeting customer needs.
Are you struggling to offer the tailored experience your policyholders demand? Learn how IBM Behavior Based Customer Insight for Insurance can help you boost retention by understanding your customers and their needs.