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posted on September 2, 2008
Report: Producing Highly Satisfied Customers Can Improve the Bottom Line for Auto Insurers Through Increased Renewal Rates
Amica Mutual ranks highest among auto insurers for ninth consecutive year
Auto insurance customers with high commitment levels not only make more recommendations and are more likely to renew their policies, but are also significantly less sensitive to pricing offers from competitors, according to the J.D. Power and Associates "2008 National Auto Insurance Study" released Aug. 28. Auto insurers with highly satisfied customers have a renewal rate that is 9 percentage points higher on average than insurers whose customers report low levels of satisfaction.
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