Improvements in First Notice of Loss and Claims Settlement Drives Higher Customer Satisfaction
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Auto Club of Southern California Insurance Group Ranks Highest in Auto Claims Satisfaction
- Overall satisfaction with settlement improves by three points on a 1,000-point scale in 2013, compared with 2012, while satisfaction with first notice of loss improves by four points.
- FNOL satisfaction improves due to improvements in explaining both the policy coverage and the claims process to claimants. Satisfaction with the claim settlement improves because insurers are paying claims faster--51 percent of claimants received their payment within eight days of FNOL in 2013, compared with 45 percent in 2012.
- Auto Club of Southern California Insurance Group ranks highest in auto claims satisfaction with an index score of 889, a 15-point improvement from 2012 and a 65-point improvement from 2011.
- Overall satisfaction improves for 13 of the 25 insurance companies included in the study.
- Claimant experience impacts loyalty and advocacy. Among claimants who are "delighted" (satisfaction scores of 900 or higher), 80 percent say they "definitely will" renew with their current insurer and 79 percent "definitely will" recommend their insurer to others. Among claimants who are "pleased" (scores of 750-899), only 53 percent "definitely will" renew and 45 percent "definitely will" recommend.
- Overall customer satisfaction with auto claims averages 855 in 2013, up three points from 2012.