Pricing amid persistently high inflation: How insurers can increase revenues in turbulent times 

Published on August 6, 2023

Inflation remains stubbornly high, raising the question: How can insurers improve margins without losing customers? Instead of a pricing strategy based on the watering-can principle, insurers need targeted measures that allow both new and existing customers to keep up with rising prices. This is the conclusion of a recent study by Simon-Kucher. 

Cost increases are putting both new and established insurers under pressure to increase their premiums. Because inflation is unlikely to fall significantly in the coming months, pricing is a focus for all insurers and across all lines of business this year. The good news is that customers are likely to go along with price increases and not jump ship. Although 46 percent of customers will have to increase their savings efforts compared with the previous year, property insurance will be…

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