Jeremy Bowler Providers Quotations

Consumers compelled to shop are greatly influenced by the cost of coverage to switch providers, and the Internet provides them a quick and easy way to obtain quotes from competing carriers. This price transparency presents a challenge to carriers in terms of customer retention, so many providers are building service functionality and actively promoting their own Web sites as a means of attracting and retaining customers.

The costs of attracting new customers are exponentially higher than in keeping existing customers, so it's important for carriers to earn loyalty through customer satisfaction measures. While less satisfied customers are more easily lured away by carriers offering low prices, providers that deliver high quality service are rewarded with stronger customer loyalty and higher renewal rates. Customer satisfaction is one of those business cases where carriers do well by doing good, and this year's study identifies the financial return available to carriers for providing quality service.