Study shows UK is worst at customer retention
The UK general insurance sector has experienced a massive increase in customer defection levels, soa...
The UK general insurance sector has experienced a massive increase in customer defection levels, soaring by 43% since 2005, according to a recent study.
The research, conducted by Pitney Bowes Group 1 Software, collected data from financial industries in European economies and in the US, and found customer defection, or 'churn', had risen from 17.8% in 2005 to 25.4% in 2007.
Andrew Greenyer, vice-president of international marketing at Pitney Bowes Group 1 Software, said: "The world is becoming
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Management
Chaucer CUO named new CII president
Nicola Stacey, chief underwriting officer at Chaucer, has been elected the new president of the Chartered Insurance Institute.
Montagu agrees to sell Open GI to minority shareholder Ares
Ares Management is set to acquire Open GI, with the deal signed on 9 August 2024, Insurance Age can exclusively reveal.
“Nobody came close to AUB” – CEO Cheesbrough on Movo’s new investor
The Movo Group is looking to create larger broking hubs and kickstart its directly authorised network Fusion after AUB took an 80% equity stake, according to Lea Cheesbrough, Movo Partnership CEO.
Ex-Ardonagh MD Barclay takes over as CEO of top 100 broker
Lycetts has appointed Ian Barclay to CEO, succeeding Charles Foster who is retiring after seven years in the role.
AbbeyAutoline makes second book buy in a week
AbbeyAutoline has purchased Down Insurances’ customer book of business, based in Downpatrick, further strengthening its presence in Northern Ireland.
PCH makes three acquisitions in three months
Premier Choice Healthcare, the health insurance intermediary owned by Brown & Brown, has completed three deals in three months.
Jensten wholesale division split sees MD Simon Taylor exit
Jensten is splitting its wholesale division in a strategic reorganisation that aims to drive organic growth, bolster continued acquisitions and further the integration of future buys.
TBIG makes fourth major investment of the year
The Broker Investment Group has increased its stake in Callaway & Sons Insurance Consultants, located in Chelmsford, Essex to 100%.