Why it pays for P&C insurers to earn their customers' intense loyalty

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      <subfield code="a">Why it pays for P&C insurers to earn their customers' intense loyalty</subfield>
      <subfield code="c">By Steven Kauderer, Sean O'Neill and David Whelan</subfield>
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      <subfield code="a">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 fi ve years, the industry¿s return on equity has fallen below the cost of capital, and net premium growth is at a historic low. The authors would argue that investing money and resources to improve one¿s value proposition and customer experience is essential for recouping the investment laid out to acquire those customers in the fi rst place. Indeed, price is far from the only consideration for customers. When Bain & Company recently surveyed about 166,000 US consumers with home or auto policies, respondents who had positive comments about their insurers valued service slightly more than price, followed by the company¿s reputation, product features and other factors</subfield>
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