Of all the consequences of quarantining this year, one rare upside of the pandemic was its direct benefit on drivers' wallets and road safety. With a steep decline in traffic, according to a new report from J.D. Power, the frequency of auto insurance repairable claims dropped 22% this year. In turn, this significant drop in claims volume freed up time and resources for insurance professionals to focus on other endeavors. Across the industry, the main focus was customer service, and according to J.D. Power, those efforts resulted in demonstrated results of shorter cycle times, better service delivery, and a record high level of customer satisfaction. Among the key findings of J.D. Power's annual U.S. Auto Claims Satisfaction Study for 2020, overall satisfaction with the auto insurance claims process increased to a record-high 872 on a 1,000-point scale — up four points from 2019. This is the third consecutive year of improvement in auto claims satisfaction, which is measured by performances in claim servicing; estimation process; repair process; rental experience; and settlement. "The sharp decline in claims volume during the pandemic has served as a test case for the industry in how to make improvements in service delivery that translates directly to increased satisfaction and increased intent to renew," Tom Super, head of property and casualty insurance intelligence at J.D. Power, said in the report. "This is important because it demonstrates that efforts to improve claimant service delivery translates directly to improved business outcomes. The challenge now, of course, will be maintaining that high level of service as claims volumes start to normalize." The J.D. Power study analyzed and ranked claims satisfaction by insurer based on responses from 11,055 auto insurance customers who settled a claim within the past six months prior to taking the survey from November 2019 through September 2020. For further context, the study excludes claimants whose vehicle incurred only glass/windshield damage or was stolen, or who only filed a roadside assistance claim. In the slideshow above, discover the top 10 auto insurers ranked highest in claims satisfaction in 2020, according to J.D. Power. Related: |
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