With the Internet at their disposal, insurance consumers have more choice than ever when selecting carriers; however, the majority of US personal lines insurance consumers we surveyed are happy staying exactly where they are.
Accenture research found that:
- Three-quarters (75 percent) of consumers plan on staying with their current carrier. Of those consumers, 85 percent are happy with the service and 70 percent are happy with the price.
- Forty-three percent of consumers we surveyed said they might leave their carrier because they’re unhappy with the price. Of those consumers, 37 percent think they can get a better deal and one third weren’t happy with the service.
While price is important, it’s not everything. Join me next week when we’ll take a closer look at where price ranks on the list of factors when consumers select an auto or home insurer.
To learn more:
- Download: Accenture US Personal Lines Insurance Consumer Survey: What high performance insurers are doing to achieve growth in a dormant market (PDF; opens in new window).
- View the Accenture 2013 US Personal Lines Consumer Survey infographic.