Fewer than 40 percent of customers are “strongly engaged” with insurance companies, new research reveals.
KBM Group published this finding in the study “Engagement in Insurance: An Imperative for Achieving Organic Growth.” Conducted in collaboration with 1to1 Media, the study polled 1,000 U.S. customers of life and property & casualty (P&C) insurers to ascertain the levels of customer engagement in the insurance industry, and the priorities and plans by which insurers can enhance engagement.
The study reveals only 38 percent of customers are “strongly engaged” with insurers. An almost equal proportion (36 percent) are “moderately engaged.” The level of engagement is weak fo more than one-quarter of respondent (27 percent).
“These distinctions are significant because it is those strongly engaged customers who are most likely to be brand enthusiasts,” the report said. “Those customers are qualitatively different from moderately engaged customers, who are satisfied but unenthusiastic; and from weakly engaged customers, with whom the strength of the relationship with insurers is low.