The last decade has brought tumultuous changes to the insurance industry especially to the way is sold. We find now ourselves in a world where insures become some of the top spending advertisers in the country with progressive coming and Uncle Warren’s Geico. Those insurers individually spent more than perennial television spender, Budweiser, who finishes the list. Last year Geico passed Allstate to become the second biggest auto insurer in the country.

This deluge of advertising has been largely focused on price, and no secret that it has convinced the average consumer that personal lines insurance is a commodity that is finding the lowest price. Many analysts such as McKinsey and Nomura Equity Research have declared that insurance is now a commodity. Personally, we love Chubb’s tagline” who insures you doesn’t matter.”

It’s not just who insures you, but also what your insurance contract says how high your limits are, how well it is protecting you, especially whether that contact properly matches your own personal circumstances and need for protection. Several great articles like this one from Bill Wilson at Insurance Thought Leadership have appeared the press by coverage experts much more experienced than us. As Bill points out consumers are being duped into believing that personal lines insurance is a commodity, with the only significant difference being price.

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