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COVID-19 Digital Listening for Property and Casualty
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"COVID-19 Digital Listening for Property and Casualty"
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Group and Individual Benefits Insights and Trends Amidst COVID-19

Few lines of insurance have suffered as much as those within the property and casualty space, due to COVID shelter in place orders. Auto insurers cut rates in recognition of changing consumer behaviors (driving less) and property insurers are expediting the use of technology in claims processing to allow agents and customers to practice social distancing. Further, small businesses are realizing the premiums they’ve been paying for business interruption insurance are not providing as much relief and support as anticipated, as their businesses have been forced to temporarily close.

Our team conducted a digital listening exercise to understand payers and agents within the property and casualty space are evolving to meet new or worsening obstacles from April to July 2020. We summarized all our findings in a wrap-up report while also providing bi-weekly briefings. Get access to our entire library of research detailing our key findings, an in-depth breakdown of the trends below, and actionable implications for you.

  • TREND 1 - Sales Channel Disruption
    Consumers are increasingly shopping and buying auto insurance online – fueling the growth of direct carriers.
     
  • TREND 2 - Consumer Loyalty Erosion
    Many insurers offered rebates or reduced premiums to shore up customer satisfaction.
     
  • TREND 3 - Speed-to-Market of Digital Claims
    Insurers accelerated and widened the use of digital claims processing tools.
     
  • TREND 4 - Lack of Needed Coverage
    Business owners have lost trust in their insurers due to lack of support


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