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September 27, 2010 at 12:45 PM
Consumers who purchase an insurance product from a financial institution or association tend to be more loyal, and also have longer, more positive relationships with those institutions, according to a study from Affinion Group.
The data was collected in 2010 from 550 Internet households and the results were released Monday; the study was conducted for Affinion by Synergistics Research Corp.
More than nine in 10 respondents (91%) who had purchased insurance from a financial institution or association indicated that they were loyal to that institution; four in 10 called themselves “very loyal.” Seven in 10 who purchased through an association rather than a financial institution were more loyal to that association, compared with two thirds who called themselves loyal and purchased through a financial institution; the younger the respondent, the more loyal they were.
