With many US property and casualty (P&C) insurers stuck in a growth quagmire, retaining and attracting good customers has become critical to success. Over the previous five years, the industry's return on equity has fallen below the cost of capital and net premium growth is at a historic low.
There's a way out of the quagmire-namely, a sustained program to earn customer loyalty. Customers who are promoters of their insurers stay longer, recommend the company to friends and family, and usually cost less to serve. All of those traits can be quantified.
Download this whitepaper to find out more.