Covid-19 is unlike any challenge this generation has faced in the recent past, and the economic impact has been unprecedented. The impact of the pandemic will have multiple impacts on the revenue coming from motor insurance, meaning insurers need to re-assess their pricing and customer segmentation strategies.
This whitepaper focuses on the impact of Covid-19 on motor insurance premiums and the steps motor insurers can take to acquire and retain the right customers in a post Covid-19 world.
• Three specific impacts on motor insurance revenues.
• Major factors contributing to a decline in revenue.
• FCA expectations.
• A four-step process to address customer acquisition and retention challenges.
• Applying customer segmentation in order to develop relevant motor insurance marketing strategies.