Sometimes it seems like the insurance industry receives an inordinate amount of negative press. Tales of excruciatingly lengthy procedures and consumer unhappiness are often found in the headlines, while the stories of client satisfaction, industry compassion and professionals working in favor of their customers’ best interest are often buried or non-existent.
So, when the annual J. D. Power U.S. Property Claims Satisfaction Study, was released on March 1st, I felt a great sense of pride for my chosen field and the entire industry. After a 10 year rise in catastrophic events in the United States, over-all customer satisfaction rate in homeowner claims has hit an all-time high.
Greg Hoeg, Vice President of U.S. insurance operations at J.D. Power was delighted to report that, “Following the significant declines in customer satisfaction found in the 2016 study, property and casualty insurers have redoubled their efforts to improve the settlement process and fine-tune their customer interactions, efforts that have been clearly recognized and appreciated by homeowners who experienced significant losses this past year.”
Insurance clients were asked to rank their level of satisfaction, ease of interaction and fulfillment expectation when it comes to insurance claims that they filed in 2016 based on losses for property damage. Based on a 1,000-point scale, five criteria were measured:
· First Notice of Loss
· Estimation Process
· Service Interaction
· Repair Process
Those surveyed reported that they were pleased with the overall claims experience. The quick response that they received from their insurance companies after they reported a loss; the service and urgency they experienced in recouping their loss and the dollar amount of the settlement, were all substantially improved after a poor report for 2016.
Combine that positive statistic with the fact that the insurance industry has been processing a steadily increasing amount of “insurance claims” in the last decade and it demonstrates that the industry listened to their client’s feedback and concerns that were voiced the 2016 J.D. Power Study and quickly turned around the process to satisfy our customer-base.
That is the best insurance-related news I have heard so far in 2017. We listen and we work each day, to make the insurance experience, better for our clients.
You can read the entire report on the link below: