Say what you will about the current state of the U.S. economy, but there are still plenty of consumers out there ready to spend their hard-earned money on products and services. The problem for insurers is that, at a time when the airwaves and Internet are flooded with advertisements and pitches galore for policies, potential customers tend to gravitate toward those marketing messages that are the simplest and easiest to understand.
According to a survey released today by global strategic branding firm, Siegel+Gale, U.S. consumers say they are willing to pay $27 billion more for brands that deliver simpler products, services and experiences. And for the insurance industry in particular, customers would pay about 5% more for products if they insurers offered simpler experiences.
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