The majority of auto insurance shoppers now start the quoting process online, according to a recent J.D. Power study. When you’re evaluating the success of your online quoting process, the most important initial metrics are the quote completion rate — the percentage of people starting the process who actually finish it — and its converse [...]
prefill
Cross-selling is big business for insurance companies. Retention rates are about 10 percent higher for customers who bundle their auto and homeowners policies compared with monoline policyholders. And, of course, if you can get a customer to buy two policies in one transaction, you increase your revenue and decrease your average acquisition costs. To entice [...]
Many carriers have implemented point-of-sale data prefill solutions for auto or property lines of business – and many others have prefill projects in the development pipeline. In most cases, the business reasons for prefill involve the “customer experience” or other productivity measures. Faster and more accurate quotes result in more sales…
