Gartner Research

Consumer Buying Preferences Driving New IT Investment Priorities for P&C and Life Insurers

Published: 27 March 2013

ID: G00248271

Analyst(s): Kimberly Harris-Ferrante


Cost, ease of obtaining a policy and trusted brand are top influencers of consumer buying behavior; community involvement and recommendation of agent/broker rank lower. Business and IT leaders must understand the voice of the customer to support acquisition and retention targets.

Table Of Contents
  • Impacts


Impacts and Recommendations

  • Customer cost sensitivity requires that insurers identify ways to reduce the cost of insurance, control premium hikes and make pricing rules more transparent
  • Consumer demand for convenience will require that insurers invest in launching new channels, improving the user experience through all channels and integrating channels for improved interactions
  • Insurers need to ensure strong and customer-aligned customer service to support customer acquisition and retention strategies

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