Auto Insurance Customers Growing More Satisfied With Claims Experience

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  • These days, many people may be a little worried about the amount they pay for their auto insurance, as premiums have been rising for years now. However, one thing they don’t seem to be all that concerned with is how their insurers handle their claims when and if they have to file one, as satisfaction with the process climbed once again this year. And while that’s certainly good news for agents overall, these professionals must also keep in mind that they can almost always do just a little bit more to improve their relationships with clients.

    There are many aspects of the claims experience that auto insurance companies can work on improving, but for the most part, it seems consumers are satisfied with the process, according to the latest data from J.D. Power and Associates. On a scale of 1 to 1,000, customer satisfaction with claims came in at 857 this year, up from 842 in 2010, and part of a trend toward more positive feeling.

    Where are insurers making the biggest steps?
    Today, 79 percent of those polled who said that they are “delighted” with the claims experience will also renew their policy and recommend their insurer to others, the report said. However, among those who were unhappy with the process, renewals were only expected by about 13 percent, and recommendations were at just 7 percent. This may highlight just how important high-quality customer service can be, but fortunately for agents, more companies have been intent on training in exactly this regard to help keep customer satisfaction high.

    “That focus is reflected in the increase in satisfaction, specifically with claim professionals, whose primary responsibility is to accurately estimate the amount of the insurance settlement,” said Jeremy Bowler, senior director of the global insurance practice at J.D. Power.

    The more agents can do to make sure their clients are as happy as possible with all aspects of their coverage, the better off they’re likely to be when it comes to actually being able to keep customer retention levels up. In fact, data shows that when it comes to keeping customers happy, the ability to have a strong relationship with their policy provider usually outstrips even the ability to save a little bit of money on their plans every month through various discounts. Therefore, the most successful agents will likely be those who can not only build such a relationship, but also work to occasionally reduce premiums for loyal customers.