Property insurers are up against inflation, delayed repairs and a rapidly shifting virtual environment in 2023. J.D. Power's recently released 2023 U.S. Property Claims Satisfaction Study delved into how insurers are stacking up against customer expectations amongst these challenges. The study results show the overall industry average satisfaction rating improved slightly year-over-year, from 871 in 2022 to 874 in 2023, but results company-to-company were mixed. Eight of the insurers examined showed declines in satisfaction from 2022 to 2023, and nine saw an improvement year-over-year. Issues that affected customer satisfaction over the last year included increased claims cycle times (seven days longer on average from 2021); variations among customers' digital abilities and needs; and the ways in which insurers communicated and set expectations during the claims process. In J.D. Power's 2022 U.S. Property Claims Satisfaction Study, the property insurers with the highest customer satisfaction scores (out of 1,000) were Amica Mutual (886), The Hartford (886), Farmers (884), Erie Insurance (882) and Nationwide (878). In the slideshow above, we'll look at the ten property insurers who can claim the top customer satisfaction honors in 2023.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
