While it’s too early to predict the long-term impact COVID-19 will have on the economy, it’s important for personal lines auto carriers to start taking the necessary steps to weather an almost certain economic downturn.
During recessions, personal lines carriers typically see spikes in both price shopping and insurance fraud. In our white paper, How to Instantly Improve Quote to Bind Ratios and Make Underwriting More Profitable, we share strategies on how carriers can use this insight to win business during a downturn. In it you’ll find:
- Key learnings for the insurance industry from the previous recession
- The importance of utilizing the right data early in the policy lifecycle
- How to target lifelong customers
- Tips for optimizing the underwriting process to save time and money