A full 20% of multiple-policy owners said that a lack of personalization was their main reason for leaving an insurance provider; 28% cited a poor customer experience, compared to 69% who have changed based on cost. That’s why a plan to personalize every interaction with policyholders is so crucial and no longer a “nice to have.” It is quickly becoming a crucial element in how insurers service customers.

54% of respondents in our research claimed they had either purchased or renewed a digital subscription service in the last six months, while 59% expected to do so in the future. The appeal of such models for consumers and businesses is clear: for one, it is a simple, hassle-free offer. For the other, it’s a reliable, predictable revenue source that can increase customer loyalty.

When it comes to communication, only 23% of consumers expect insurers will integrate their experience across mobile, web, and in-person. The fact that people’s expectations are so low when it comes to insurers integrating their products and services for a frictionless customer experience might be seen as a problem for the industry – but it’s also a near-term opportunity. Now’s the time to turn this perception around and create customer experiences that help drive long-term customer loyalty.