Cambridge, Mass. – Consumers have been known to be fickle—from the ease of using the remote to change television channels mid-program to toggling between credit card agreements to find one with the lowest APR. When it comes to insurance, however, consumers tend to be a bit more loyal. That’s the assessment made by Forrester Research Inc., a Cambridge, Mass., research firm that asked nearly 5,000 U.S. consumers about their intentions for doing business with 112 firms across these nine industries: banks, credit card providers, health plans, insurance firms, Internet service providers, investment firms, retailers, TV service providers and wireless carriers.
Forrester’s research, conducted in Q3 2007, reveals that health insurers are almost as popular as retailers, which the survey identified as having the most loyal consumers. Banks were shown to have the least. In fact, the net of respondents hesitant to switch retailers was 66%, while a net of 57% of respondents said they were unlikely to switch health plans.
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