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J.D. Power — Insurer Property Claims Satisfaction

Posted By Administration, Tuesday, April 7, 2020
Updated: Friday, April 3, 2020


The J.D. Power 2020 U.S. Property Claims Satisfaction Study is out. The annual satisfaction survey looks at how satisfied consumers are with the claims they file and how well insurers respond to those claims.

The whole claims process and how happy or unhappy people are with that process is — and always has been — a huge concern for insurers. That’s why many of them have automated much of the claims process to give claims adjusters more time to spend personal time with those filing them.

Or as some call it, giving more time for the human touch.

This is the criteria used by J.D. Power to rate carriers on their claims efforts:

            * Availability of staff

            * How well the insured is informed about the status of a claim

            * The helpfulness of the staff

David Pieffer of J.D. Power talked about the study.

“Home insurers have spent a great deal of time and money refining their claims processing capabilities through a combination of improved client relationship management, enhanced technology and improved quality control,” Pieffer said. “Getting this formula right is critical for insurers because any customer perception of undue effort of unnecessary delays experienced on the part of the customer in the claims process is directly correlated with increased shopping for a new insurer.”

The industry average is 881 out of 1,000

1. Amica — 902 on the 1,000 point scale

2. The Hartford — 896 on the 1,000 point scale

3. Farmers Insurance — 893 on the 1,000 point scale

4. Auto-Owners Insurance — 889 on the 1,000 point scale

5. Nationwide — 886 on the 1,000 point scale

6. Erie Insurance — 885 on the 1,000 point scale


The industry average of 881 goes here


7. Allstate — 882 on the 1,000 point scale

8. American Family Insurance — 881 on the 1,000 point scale

9. State Farm — 878 on the 1,000 point scale

10. Liberty Mutual — 877 on the 1,000 point scale

 

Source link: PropertyCasualty360.com 

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