Two independent studies commissioned by Wiraya, a managed service provider for mobile customer activation, have revealed that relationships between brands and consumers in the insurance market have deteriorated to the point of estrangement, with providers assuming claims are twice as inflated as customers actually admit.
Nearly two thirds of respondents(63%) say price is now the sole factor most likely to make them change provider. As relationships with insurance providers become more cost focused, customers are inflating claims against home, travel and vehicle insurance by 15%. Intriguingly, professionals estimate the sums requested by customers are artificially increased by as much as 31%.
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