Insight Library

Insurers: How the next best offer can help you build sales and boost persistency

Selling again to an existing customer is generally easier and less costly than selling for the first time to a new prospective customer.

And for insurance companies, selling more to existing customers can also have a positive effect on persistency – often a vitally important factor for profitability.

If traditional insurance companies won’t communicate effectively with their customers… who else will?

Tomorrow’s industry leaders could include some different but familiar names.

Uncertainty still prevails around the pandemic and its future impact on businesses of all kinds – including insurers.

Why the pandemic means new customer communication opportunities for insurers

Before the pandemic struck, I wrote a number of articles that highlighted the need for better customer communication in the insurance industry. Various studies have shown that insurers generally communicate less frequently than their customers would like. What’s more, the information provided is often not as helpful as it could be.