price

The price of parity: why insurers in US are losing their mojo

Why US insurers are loosing their mojo? If there is one word that is inescapable from the political discourse, then that is ‘inequality’. Politicians spanning the ideological spectrum argue why inequality is responsible for all the ills of the world and how their ideas can pave way for a more equitable society. Well, the rhetoric […]

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Random Thoughts: Data Sharing

New study, new data, so I thought I’d revisit a topic I explored before, about the willingness of consumers to share data to improve either their premium paid, their convenience, or their risk/safety. In general, the willingness has increased: All questions show a slight uptick except for the for the first house sensor one – […]

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Does Your Insurer Really Understand Customer Engagement?

Let me tell you a heartening story in which an insurer really delivers on customer engagement. Steve, a happy-go-lucky millennial, was travelling from New York to Los Angeles via Atlanta. Only two hours before he boarded his flight, Steve purchased travel insurance using his mobile phone. His flight from JFK to Atlanta was uneventful and […]

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3 disruptors that are shifting the auto insurance industry

When we talk about disruptors we often take a long term view of things. While it is hard to predict when things will happen, or what will gain popularity from one period to the next, there are some things that are happening today that could likely have a more significant impact on the way we […]

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Are customers less loyal? And why?

One trend that we have seen of the past few IBV insurance studies that look into consumer behavior (from “Powerful interaction points” through “Insurers, intermediaries and interactions” to “Digital Reinvention for Insurers”) is that insurance customers seem be becoming less loyal: The question behind the chart is “How often did you switch your insurance provider […]

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