Improving customer loyalty in the protection industry

How often do you hear the phrase ‘great rates for new customers'? Giving preferential deals to acquire new customers is common practice - indeed  ‘number of new customers acquired' is often a key metric in the financial performance of financial services companies (and telecoms and utilities providers). However, if new customers receive all the perks and benefits while existing customers - the ones who show loyalty - do not, then it's not surprising that customer retention will be a challenge. In the world of protection, we also suffer from ‘great rates for new customers' syndrome, ...