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Digital Transformation and the Future of Insurance

Fico Collections

For example, the homeowners’ insurance department might have a policy in the name of Chris Smith at their home address; the auto insurance group has a policyholder named C.J. Our customer portfolio reads like a Who’s Who of some of the largest and most innovative insurance technologists in the industry. . Smith, etc. .

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Build Winning Customer Experiences Without Tanking Efficiency

Fico Collections

million over their working lifetimes; double that for individuals with higher education and more lucrative occupations. On average, they pay $95,000 in homeowners insurance over their home-owning lifetimes. And they pay about $94,000 for auto insurance over their driving lifetime. According to the 2020 U.S. homes… 64.8%

Banks 52
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Closing the Case for Customer Centricity & Digital Transformation

Fico Collections

In insurance, the number of “at-risk” U.S. The rate of auto insurance loyalty has fallen to 48% today from 59% in 2004, a 27% drop; over the past year, the rate of switching among insurance shoppers has increased to 35% from 31%, helping to drive down overall insurance customer retention by two percentage points to 88%.