Auto insurers have used the decline in damage claims during the COVID-19 pandemic as an opportunity to improve their claims processes, and customers have taken note.
According to the U.S. Automotive Claims Satisfaction Study conducted by J.D. Power 2020, improvements in customer service have led to record levels of customer satisfaction. These improvements include ensuring that the actors are always on site. Complete the job as promised; And to provide several services when a loss is first reported.
“We are pleased to see the extraordinary work of the insurance industry recognized by its lead reviewer, The American Consumer,” said Sean Keveligan, CEO of Triple-I. “During the pandemic, auto insurance companies across the country worked tirelessly to bring relief and financial security to policyholders who had to file a claim. This fits with his role as the company’s first financial responder, ”he said in a Triple-I press release.
Among J.D.’s most important findings The study of force includes:
High Customer Satisfaction Record for Auto Insurance: Overall satisfaction with the auto insurance claims process reached a record 872 (on a 1,000 point scale), four points higher than 2019. This is the third consecutive year that improvements have been made. In automobile insurance. Satisfaction motivated by improved performance for almost all factors measured in the study: complaints handling; Estimate process, repair process, rental experience and invoicing. The only factor that did not improve from the previous year was the first loss report, which was unchanged from 2019.
Cycle time improves as claims volume declines: Insurers stepped up their game during the pandemic, taking advantage of a lower frequency to speed up claims processing. Total course length for applicants with serviceable cars has dropped to just 10.3 days during the pandemic, from the pre-virus average of 12.6 days.
Measuring the momentum of COVID-19: This year’s study was conducted in four waves from November 2019 to September 2020, so J. Strength can compare customer satisfaction before the virus to that which occurred during the pandemic. In particular, the number of applicants who declare “to renew definitively” their current insurer is 76% during the pandemic against 72% before the virus.
The use of DRP (Direct Repair Program) workshops improves satisfaction: the increased use of directly connected repair shops in the industry leads to a higher overall satisfaction (888) than independent repair shops (844). This is due to faster lesson times in DRP workshops and regular progress updates.
“The sharp drop in the volume of claims during the pandemic has been a test case for the industry to see improvements in service delivery translate directly into increased satisfaction and intention to renew,” said Tom Super, director company insurance. Property and victims. Intelligence at JD Power. “This is important because it shows that efforts to improve candidate service delivery directly translate into better business results. The challenge now, of course, is to maintain a high level of service once the volume of complaints begins to normalize.
Considering the drop in highway kilometers in the United States this year, U.S. auto insurers are returning more than $ 14 billion to their customers nationwide to respond to the decline in driving during the pandemic, according to a Triple I estimate.