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Customers who are loyal to their insurers cost less to serve, buy more products and stay with their providers longer. These promoters have a lifetime value that's nearly seven times higher than those of detractors, people who have negative feelings toward their insurers. In this short video, Partner Gunther Schwarz shares some of the best practices of loyalty leaders in insurance.
Read the Bain Brief: Customer loyalty and the Digical℠ transformation in P&C and life insurance: Global edition 2014