Every year some 80% of drivers shop around for car insurance when it’s time to renew their annual policy. Just over half of them end up staying with the insurance provider they were already with.
But where do they look, what is enough to make them to stay, who is more likely to switch, and why?
Understanding shopping patterns and what drives customer behaviour enables brands to make informed decisions to build robust marketing and business plans and measure results.
Consumer Intelligence has refreshed its flagship Insurance Behaviour Tracker by dividing it into four modules to make it easier for our customers to dive into which area of behaviour they want to understand.
Insurance Behaviour Tracker asks five million questions to car and home insurance customers every year.
It helps our customers to forensically analyse the renewal journey of the end consumer, benchmark their performance against their peers, and see the difference between demographic groups.
Download our infographic to find out more about the IBT Retention Module.
It will help brands to:
1 Gain an understanding of how customers behave during the renewal period
2. Discover what influences their decisions and how you compare to your peer group and the overall market
3. By understanding customer behaviour you can adjust your retention strategy to maximise your opportunities
Our Insurance Behaviour Tracker is the most comprehensive insurance focused consumer survey in the market. It provides insight and understanding of consumer behaviour throughout the renewal process, giving you a view of market trends, and brand performance.
The retention module allows you to gain an understanding of how customers behave during the renewal period and what influences their decisions. You can see how your business compares to your competitors and the general market. By understanding customer behaviour you can adjust your retention strategy to maximise your opportunities.
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