In an article published by Insurance Thought Leadership, Jornaya’s Insurance Market Leader, Jeff Piotrowski, shares insights to best serve online insurance shoppers and help marketers, insurers, and agents make the most of the dynamic conditions.
“Since the start of the pandemic two years ago, consumers' online insurance shopping has become increasingly active and sustained […] However, in recent months, insurance providers have noticed a decrease in online shopping volume across auto, home and life insurance. The year-over-year comparisons, when focused on Q4 2021, paint a very different picture.”
An explosion of online shopping was ushered in by the COVID-19 pandemic and, as of January 2022, comparison-shopping activity is beginning to decrease across every line of business due to the unique, industry-specific challenges that the pandemic has exacerbated. There is a demand for new business leads. At the same time, carriers are increasing rates to mitigate profitability loss and ensure that loss ratios improve.
“In dynamic conditions like this, where insurers and agents need to pick their spots, strengthening existing relationships, elongating the customer lifecycle, and focusing on the right prospects are all important.”
How can carriers and marketers strike the balance between ensuring the satisfaction of current consumer bases while also generating new business leads in shifting conditions? Jeff’s four strategies illustrate how to best serve online insurance shoppers and how marketers can make the best of their current landscape in dynamic times. Read the complete article on Insurance Thought Leadership’s website.