Article at a glance:

Limiting churn in insurance

Customer turnover is high at property and casualty insurers. Executives often assume that customers leave only in search of less expensive coverage, but our research shows that many other factors, from age to claim histories, influence the decision to change insurers.

The take-away

By identifying valuable customers who are likely to leave and then taking simple steps to keep them happy, insurers can reduce churn and boost profits.