Get Your Insurance Fix on “The Insurance Couch” Podcast!
Join Oliver Lang, former CEO of InsurTech Unicorn Wefox/One Insurance, Supervisory board member and Advisor and Nikolaus Sühr, Co-Founder and CEO of InsurTech Enabler KASKO as they bring you unique insights from their experiences in the insurance world.
This episode is all about the renewal of insurance contracts 🎙️
- Whether customers must actively renew their insurance contracts (forced renewal) or contracts renew as long as you don’t cancel them (auto-renewal) makes a big difference for insurance markets.
- The difference in Lifetime Customer Value (LTV) between direct customers and broker customers is bigger in forced renewal markets than in auto-renewal markets.
- In forced renewal markets more focus is placed on keeping the customer and the processes to do so are much more complex.
- Any feature to bind customers (like claims, free discounts, or recurring referral benefits) is more important in forced renewal markets.
- There’s generally more change in forced renewal markets: faster growth of new offerings and competitors and less legacy in old tariffs.
Listen to “The Insurance Couch” to stay tuned for the newest chatter about the industry!
#insurance #insuranceindustry #versicherungsbranche #versicherung #versicherer #renewal #strategy
