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Jeff Perlman
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J.D. Power and Associates Reports:
Managing Expectations, Communicating Effectively and Showing Genuine Concern Are Key
Practices in Delighting Auto Insurance Claimants
Auto-Owners Ranks Highest in Satisfying Auto Insurance Customers with the Claims Process
WESTLAKE VILLAGE, Calif.: 29 October 2008 — Managing expectations, showing empathy, ensuring convenient service and effective communication are key themes in enhancing overall insurance customer satisfaction with the claims process, according to the J.D. Power and Associates 2008 Auto Claims Satisfaction StudySM released today.
The study measures the experiences of auto physical damage claimants by examining satisfaction with the claims process. Depending upon the complexity of a claim, the customer may experience all or only some of the following factors: claims settlement; service interaction; first notice of loss; repair process; and rental experience.
The study finds that implementing 10 specific service practices has a considerable impact on overall satisfaction with the claims process. They are:
- Answering all customer questions
- Managing expectations regarding the settlement
- Expressing genuine concern
- Avoiding negotiated settlements
- Providing flexible appraisal appointment | - Returning phone calls
- Sharing information between representatives
- Providing proactive updates
- Ensuring customer is at ease with claims process
- Giving customers a time line and meeting it |
Only one in three auto insurance customers filing a claim report receiving all of the top service practices. Among these customers, satisfaction averages 919 on a 1,000-point scale, with 75 percent indicating they “definitely will” renew their coverage. This compares to only 21 percent of customers who received six or fewer service practices saying they “definitely will” renew with their insurer. Additionally, satisfaction declines considerably among customers who only receive six or fewer key practices (594 points).
“Implementing these practices and enhancing the customer experience clearly has tremendous benefits for insurance providers through potentially increased renewal rates,” said Jeff Leiman, senior director of the insurance practice at J.D. Power and Associates. “For many auto claimants, filing a claim with their insurer can be a trying experience. Providing empathetic service and expressing genuine concern for the specifics of their personal situation, especially during the first notice of loss, is an absolute must in providing a satisfying experience.”
Auto-Owners ranks highest in providing a satisfying claims experience for auto insurance customers with a score of 864. Auto-Owners performs particularly well in the service interaction, settlement and repair process factors. Amica Mutual follows in the ranking with a score of 860, performing particularly well in the first notice of loss factor. State Farm ranks third overall with 851 points and performs well in service interaction. The Hartford (833) and COUNTRY (826) round out the top five ranked insurers in the 2008 study.
The 2008 Auto Claims Satisfaction Study is based on 11,671 responses from auto insurance customers who filed a claim within the past 12 months. The study excludes customers who only had glass/windshield, theft/stolen vehicle, roadside assistance or bodily injury claims. The study was fielded from July to August 2008. View the management discussion based on the 2008 study findings.
For more information, read an article or view ratings of insurance customer satisfaction with the claims process at JDPower.com.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on boat ratings, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com/.
Media Relations Contacts:
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John Tews
J.D. Power and Associates
Director, Media Relations
5435 Corporate Drive, Suite 300
Troy
, MI
48098
USA
(248) 312-4119
john.tews@jdpa.com
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Jeff Perlman
Brandware Public Relations
Media Relations
Malibu
, CA
USA
(818) 317-3070
jperlman@brandwaregroup.com
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No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate # # #
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What does J.D. Power and Associates do?J.D. Power and Associates' research, consulting, and performance improvement services are used by a variety of industries to improve product quality and customer satisfaction. The firm's research is based solely on responses from millions of consumers and business customers worldwide. Product and service rankings that result from this research reflect the opinions of consumers and business customers-not the opinion of J.D. Power and Associates. Rankings are derived from nationally syndicated studies that serve as industry benchmarks for measuring and tracking quality and customer satisfaction. J.D. Power and Associates conducts the research, publicly announces the results, and then offers analysis based on consumer feedback to product and service providers to help them improve their businesses.
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