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3 Strategies to Improve Customer Engagement in the Insurance Industry

Insurance is generally considered "low-touch" industry, continuing to fall short when it comes to engaging with consumers. Unfortunately, a single event - such as a poor claims experience or billing problem - is often the catalyst for policyholders to switch providers, creating a commoditized market and eradicating any sense of brand loyalty. It's not all doom and gloom, however. Organiz...

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Building Trust in the Insurance Industry Through Transparency

The concept is simple. In exchange for a premium, an insurance company agrees to compensate a policyholder for a specified loss, damage, illness, or death caused by an unexpected event. So, as an industry that is centered on helping consumers better mitigate risks, why does insurance get such a bad rap? In a word, trust. Unfortunately, the public’s perception of the insurance industry is...

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Amazon and Insurance: Could One-Click Coverage Be Right Around the Corner?

Considered one of the world’s most innovative companies, Amazon has virtually transformed the way people shop and live. The secret to its success? For starters, Amazon is never completely satisfied with the status quo. In fact, Amazon is continually looking for new opportunities in various sectors and categories in which to evolve and expand. Very recently, the retail giant has expanded ...

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Mission Critical: Customer Retention vs. Acquisition in Insurance (Part 1)

Comparing the Costs Insurance is a low margin game. Between customer churn, claim payouts, and massive operational overhead, the amount of money going out is barely less (and in some cases, more) than what is coming in. While the equation has many nuanced complexities – risk assessment, smarter underwriting, operational efficiencies, investment strategies, and more – much of the business...

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