Daily Fintech Conversations

Insurtechs Need to Ace Customer Acquisition Cost (CAC) Optimization

Originally published at: https://dailyfintech.com/2022/01/06/insurtechs-need-to-ace-customer-acquisition-cost-cac-optimization/

Across industries, it’s generally accepted that it costs about five times as much to attract a new customer as it does to sell to an existing one. In insurance, the cost of acquiring customers (CAC) is higher, at seven to nine times that of selling to an existing customer. On average, that’s paying between $487…