Capturing hearts, minds and market share: How connected insurers are improving customer retention

For many insurers the key to preserving customer relationships still lies in personal interaction. For some customer sets, those who strongly favour personal interaction, this business model works well. Yet a growing segment of customers, especially those 30 years and younger, differ in some key aspects. While they still look for help and advice, they seek personal contact in the context of a holistic, omni-channel experience.

How can insurers keep - and hopefully even expand - these diverse customer sets, old and young alike? What factors drive retention and loyalty? To explore these questions, IBM surveyed more than 12,000 insurance customers in 24 nations about relationships with their insurers, what they perceive as valuable and in what ways they would like to interact and obtain new services going forward.

This report provides in-depth analysis of IBM's research study into the attitudes and needs of insurance consumers.

Topics covered:
• The churn challenge.
• The three dimensions of retention.
• Understanding values and behaviours of your customers.
• Engaging your customers across access points.