Things are looking up when it comes to the way millennials feel about the auto claims process. In the latest J.D. Power 2015 U.S. Auto Claims Satisfaction Study, claimants born between 1977–1994 (Gen Y) showed some improvement in terms of overall satisfaction with the claims-filing process, moving from 819 in 2014 to 827 in 2015 based on a 1,000-point scale. The number of Gen Y claimants also grew from 28% in 2014 to 33% in 2015.
However, Gen Y claimants are still less satisfied with the claims process than other age groups. Gen X customers (born 1965–1976), who comprise 20% of claimants, jumped from 847 last year to 855 this year. Pre-boomers (born before 1946) experienced a drop in satisfaction, falling 17 points from 911 in 2014 to 894 in 2015.
Improvements among Gen Y
Mark Garrett, director of insurance analytics at J.D. Power, says that the improvements among Gen Y customers especially pertained to first notice of loss (FNOL, +7), settlement (+8), repair process (+14) and the appraisal (+19). "Some common themes where we noticed improvements were in explaining the claims process, being kept informed, and the speed of the settlement and repair work," Garrett explains. "Some new questions we added showed that technology adoption during the claim is much higher among Gen Y. For example, 42% of Gen Y received electronic updates during the claim and provided higher satisfaction than those who did not use technology such as boomers, who have 34% usage."
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