@rentman0 wrote:There are many other ways companies can provide meaningful support to their customers that will translate to increased brand loyalty. My insurance company, Allstate, refunded part of the car insurance premium. I did not have to ask. The money literally was refunded in less than 30 days and I did not have to reduce coverage. The result was a WOW! moment that will make it difficult for me to take my business elsewhere now. A meaningful gesture translates to immense brand loyalty.
This is not even remotely similar to Verizon's predicament. MANY insurance companies are refunding a portion of car insurance premiums for ONE main reason, people are driving LESS due to COVID-19. Less driving means less accidents means less payouts for the insurance company to make. It only relates that insurance premiums should reflect this as insurance premiums as a whole are based upon liability estimates. Estimates drop and premiums should do the same. Had they not refunded a portion of insurance premiums during a widespread stay at home mandate, they would have been seen as profiteering on COVID-19. Possibly you haven't noticed the decrease in traffic on roads? Less traffic, fewer accidents. Fewer accidents, lower payouts from insurance companies. Lower payouts from insurance companies, drops in insurance premiums.
Verizon is in the EXACT OPPOSITE situation as the use on cellular networks has been INCREASED due to COVID-19. Schools closed being replaced by home schooling, businesses closed being replaced by an increase of people working from home, people out of work increasing their home usage due to increased entertainment use, etc... The amount of data that people are using on Verizon's network has increased greatly during the COVID-19 breakout, meaning MORE cost to Verizon for maintaining the network.
You are comparing and industry whose costs due to insurance payouts has DECREASED because of less traffic on the roads translating to fewer accidents to an industry whose costs have skyrocketed due to increased usage by people learning, working, and streaming from home. Sorry, not a valid comparison.
Appreciate your perspective and difference of opinion, but respectfully disagree with the premise that it is different. Agree that cars are being driven less and that cell service has increased.
This is about the customer and loyalty. Verizon can find that in their own way, even as their network loads increase.