The COVID-19 pandemic is giving US insurers a run for their money.<br />With millions of Americans stuck at home, customers have both the time and motivation to shop around for better insurance deals.<br />According to Business Insider, price is the biggest driver for US consumers who decide to switch their insurance provider.<br />Of the US property & casualty insurance customers who changed their insurer in the last 12 months, 58% cited the cost of coverage as the principal reason.<br />Likewise, 40% of customers switched life insurance providers due to price dissatisfaction.<br />And as they tend to offer lower prices, full-stack insurtechs such as Lemonade pose a growing threat to incumbents' user bases.
