The Insurance Couch Podcast - The Hidden Power of the In-Force Book: How Inertia Drives Insurance Profitability

Get Your Insurance Fix on “The Insurance Couch” Podcast! ⁠⁠Join ⁠Oliver Lang⁠⁠⁠, former CEO of InsurTech Unicorn Wefox/One Insurance, supervisory board member and advisor and ⁠⁠⁠Nikolaus Sühr,⁠⁠⁠ Co-Founder and CEO of InsurTech enabler ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠KASKO⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ as they bring you unique insights from their experiences in the insurance world.In this episode they talk about the real power of the in-force book, why customer inertia outweighs customer loyalty, and how insurers can unlock profit through smarter pricing, segmentation, and portfolio management.Here are the key takeaways:Your in-force book is a strong asset, but it’s driven by customers’ inertia, not loveNot enough is invested in managing the profitability of your in-force bookNew data shows that even beyond-your-dreams price increases don’t change churn ratios by muchThe top reasons for customers to churn are exposure change, adviser influence, and affordabilityCustomer centricity and customer satisfaction don’t affect any of these reasons. Don’t over-investStart managing your in-force book profitability with small steps – but start nowListen to “The Insurance Couch” to stay tuned for the newest chatter about the industry!#InsuranceStrategy #InForceManagement #CustomerRetention #InsuranceProfitability