This thought piece addresses the issue of retention and customer loyalty in the insurance industry. Retaining existing customers is becoming more important as the insurance market becomes more competitive and it is ever easier for customers to make comparisons between insurers. The different factors affecting customer loyalty are examined, including: distribution channels, product offering, price, brand and customer experience. The strategic positions an organisation can take are discussed as ways forward. Opportunities arise from the changes in the way people buy insurance, or what they are looking for in a product and these are examined. The article highlights the importance of addressing these issues affecting profitability in an industry where the customer churn rate is high. The paper concludes with a series of questions an organisation can ask itself about how to address the trends and some suggested "next steps".

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