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Insurance companies are at risk of losing customers due to cost-of-living pressures. The publication Insurance News reports that insurance clients are shopping around more, and in the year to June 2023, 66.1% of policies were renewed without approaching another company, down from 66.5% in the previous year and compared to 67.2% in the year to June 2021.

According to the report, changing economic circumstances also present opportunities for companies to tailor and add value to insurance products to meet their customers’ needs. Read more here.

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