Accenture says, "Overall, the consumers who reported not being fully satisfied could represent up to $34 billion in premiums annually, or up to $170 billion over the next five years." (Photo: Sea Studio/Adobe Stock)
Claims is the beating heart of insurance service providers. It is the moment when insurers convert a policy into the financial help needed following a calamity, and it's the point at which the sector proves its worth and makes good on the customer's trust.
With such high stakes, you'd think insurers would do everything in their power to ensure a smooth, frictionless and stress-free claims experience. Yet, according to PwC's Insurance Brand Sentiment Index 2022, something is going terribly wrong.
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