Study shows UK is worst at customer retention

The UK general insurance sector has experienced a massive increase in customer defection levels, soaring by 43% since 2005, according to a recent study.

The research, conducted by Pitney Bowes Group 1 Software, collected data from financial industries in European economies and in the US, and found customer defection, or 'churn', had risen from 17.8% in 2005 to 25.4% in 2007.

Andrew Greenyer, vice-president of international marketing at Pitney Bowes Group 1 Software, said: "The world is becoming mo