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Pricing strategy|Expand Your Pricing Paradigm
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Pricing strategy

Expand Your Pricing Paradigm

Look to other industries for inspiration. by Rafi Mohammed

From the Magazine (January–February 2023)
Lalalimola; jamielawton/Getty Images; pjohnson1/Getty Images; C Squared Studios/Getty Images; Yevgen Romanenko/Getty Images

Summary.   

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For nearly a century, most auto insurance companies have priced their services in the same way, charging customers an annual premium for unlimited driving. The premium varies depending on a driver’s age, vehicle, driving history, estimated annual mileage, coverage levels, and other factors, but the basic pricing scheme—an annual premium—has been an industry standard.

Read more on Pricing strategy or related topics Customer strategy, Consumer behavior, Customer experience and Behavioral science
A version of this article appeared in the January–February 2023 issue of Harvard Business Review.
Read more on Pricing strategy or related topics Customer strategy, Consumer behavior, Customer experience and Behavioral science

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