Insurance
Effective market research for the insurance industry requires deep understanding of the market and mastery of relevant research techniques. Building on our staff's decades of experience, TRC has developed the special capabilities and the perspective to serve the industry exceptionally well.
We have extensive experience across all major property/casualty markets, including large corporate and specialty markets, as well as life and health insurance. We are intimately familiar with service issues from claims to billing and premium audit, as well as with retention issues. We work with every major distribution system, from independent agencies and brokers to direct response.
We couple this experience with research tools particularly well-suited to solving insurance market research problems, from qualitative techniques to understand narrow commercial markets and distribution issues to sophisticated quantitative techniques. Often, market segmentation studies address key strategic issues insurance carriers face.
We have the capabilities necessary to carry out very large studies, for example personal lines customer satisfaction tracking at the agency level. Our ultimate goal is to deliver useful answers focused on the issues at hand and the decisions you have to make. We welcome the chance to work with you.
For more information, click on any of the links above or get in touch with
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Claims
One example of our claims research is an ongoing Commercial Lines Claim Satisfaction study. This work began a decade ago with focus groups on the factors that affect customers' satisfaction with claims service. |
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Retention
Retention research probes the reasons for lapses in great detail. Often, we first establish whether each of a series of fairly broad factors was involved in dropping the policy. Then, further closed-ended questions narrow down the reasons. |
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Independent Agencies
Since 2000, TRC has carried out the biannual Agency Universe Study, commissioned by Future One, a consortium of the Independent Insurance Agents and Brokers of America and independent agency companies. |
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Qualitative Techniques
Quite regularly, we carry out qualitative research on specific commercial insurance markets our clients are active in or considering. Typically, these studies focus on risk management needs of the markets, |
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Sophisticated Quantitative Technique
Regardless of the project's purpose, TRC applies the best available method to the information needs at hand. In many cases, like this one, we need to determine the relative importance of product, service, or company characteristics, |
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Market Segmentation
In one of our market segmentation studies, our client for a personal lines auto insurance market segmentation was reevaluating its distribution strategies, particularly to determine whether it should add direct and/or payroll deduction marketing to its agency distribution. |
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