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Interactive Tool Helps Insurers Compare Their Operational and Customer Satisfaction Performance with Competitors

COSTA MESA, Calif.: 20 Oct. 2016  -- J.D. Power will launch its Insurance Performance Portal—a premier interactive tool that allows insurance carriers to evaluate their operational performance across personal and commercial (P&C) lines of business and gain deeper insights into the effectiveness of their investments in customer satisfaction initiatives —on Oct. 24 at its Insurance Claims Edge conference in Chicago. 

“Insurance executives are challenged with keeping their customers happy, managing costs and remaining competitive in the marketplace,” said Greg Hoeg, vice president of U.S. insurance operations at J.D. Power. “The Insurance Performance Portal is a competitive benchmarking tool that allows executives to trend the past six years of their company’s operational performance and compare it with individual competitors or groups of competitors, and also allows them to analyze their customer satisfaction investments.”

The portal includes14 operational ratios, ranging from the combined ratio to the general expense ratio to the loss incurred ratio, and their subcomponent ratios, for each insurance provider in the United States across approximately 40 lines of business for both net and direct premium. Customer satisfaction scores from J.D. Power’s seven P&C insurance-focused syndicated studies are also included for each profiled insurer. 

“In combining operational and financial data with customer satisfaction data, the portal enables insurance executives to make informed decisions on the appropriate amount of effort and investment to dedicate to customer satisfaction efforts, process and technology in order to improve both satisfaction and financial performance,” said Hoeg.   

The Insurance Performance Portal offers three levels of service, ranging from a self-help tool for insurance providers to full-service customer evaluation and analysis.  

For more information about the Insurance Performance Portal, visit http://www.jdpower.com/insuranceperformanceportal.

See the online press release at http://www.jdpower.com/pr-id/2016257.

Media Relations Contacts

John Tews; Troy, Mich.; 248-680-6218; media.relations@jdpa.com

Geno Effler; Costa Mesa, Calif.; 714-621-6224; media.relations@jdpa.com

About J.D. Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info 

Media Contacts:

John Tews

Troy, Michigan

(248) 680-6218

media.relations@jdpa.com