To tackle the economic impact of the pandemic, motor insurers need to optimise customer experience to achieve higher retentions while at the same time maintaining profitability.
This article provides a step-by-step guide for motor insurers to evolve their business models in order to maintain growth in spite of Covid-19 by focusing on:
• New data sources.
• Adopting new approaches to customer segmentation.
• Devising corresponding pricing strategies for the new customer segments.