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Customer Loyalty: It's More than Just Claims Satisfaction

It turns out that it takes more than just customer satisfaction to keep customers loyal to their insurers. An Accenture Global survey found that while 86% of insureds who filed a claim were satisfied with how it was handled, 41% of those customers are still likely to switch insurers in...

By Patricia Harman | Updated on November 01, 2014

It turns out that it takes more than just customer satisfaction to keep customers loyal to their insurers. An Accenture Global survey found that while 86% of insureds who filed a claim were satisfied with how it was handled, 41% of those customers are still likely to switch insurers in the next 12 months.

“The very act of filing a claim makes a customer much more likely to switch insurers, regardless of how satisfied they are with the experience,” says Michael Costonis, a managing director of Accenture’s insurance industry practice and global head of claims services. “Insurers should look at how connected devices and other digital technologies can help customers better manage risks to reduce claims frequency.”

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