Last month we talked about the Consumer Reports expose on our industry’s pricing practices. This month, we thought we would feature some of the insurance industries top ads, and ad claims, which Consumer Reports called “misleading”. In a special feature Consumer Reports called “Here’s What’s Really Funny About Those Advertised Savings” they say “perhaps insurers think you won’t notice their fuzzy math if you’re too busy [...]
Health insurance hasn’t normally attracted much money from Silicon Valley investors. Health insurance certainly doesn’t have the flash of technology darlings like Uber or an Airbnb. As we all know the industry is highly regulated, fiercely competitive, and turning a profit depends on signing up healthy customers and getting favorable prices from hospitals and doctors. Still, investors put hundreds of millions of dollars into health insurance [...]
This month Consumer Reports delved into the secret sauce behind insurers auto insurance pricing practices. Property casualty insurers, agents, and consumers alike, took notice creating a social media firestorm of dialogue and debates. Hundreds of consumers are still speaking up on Facebook and Twitter about the normally hush-hush topic of how car insurers use credit scoring and other non-driving-related factors to set prices. Regulators also stepped [...]
When Consumer Reports set out to devote almost an entire issue of their magazine and years of research to the auto insurance industry, consumers, and the industry took notice. In case you missed the article (it was a good one), The Lift Factor has summarized key points from the piece here. In addition, we have reviewed and collected some of the important comments from our colleagues [...]
In today's world, change is inevitable, especially as technology quickly changes how we live and work. So, it's not surprising that an auto insurance market research analyst is predicting the end of the auto insurance business as we currently know it. That's right. No more auto insurance. Why? According to Deutsche Bank research analyst Joshua Shanker, in 20 years, instead of people owning and driving cars, [...]
Buying a marketing automation solution will not make you a great marketer just the same as owning a camera does not make you a professional photographer. Often insurance marketers, and really all marketers, decide to hop on the latest marketing technology bandwagon without really understanding how to use this technology well. Marketing automation is one of those instances. One commonly cited statistic is that marketing automation [...]