80% of Policyholders Care About Quality

Insurance has been a price dominated business for one simple reason. There wasn’t a quality metric. But consumers owning both a home and auto pay an average of $3,000 per year on insurance. Hardly anyone wants to pay that much money without any measure of whether what they are buying is worth the price.

There’s only one quality metric that matters. Does the insurance company pay claims fairly and quickly? When policyholders know this is the case, retention increases and the focus on price decreases. It’s that simple.