Three important agent takeaways in recent Auto Claims Satisfaction Survey
Millennial satisfaction with the auto claims experience is on the upswing, according to the recently released J.D. Power 2015 U.S. Auto Claims Satisfaction Study. The millennials - also called Gen Y - represented 33% of the claims-filing population in 2015, up from 28% in 2014.
The study measures customer satisfaction based on responses from 11,469 auto insurance customers who settled a claim within the past six months prior to taking the survey. It uses a 1,000 point scale to measure results.
Here are three points particularly noteworthy to agents:
Personalize and tailor your interactions: Insurance providers need to be careful not to take a one-size-fits-all approach, either overall or by generational group. “Consumers’ needs vary greatly based on their attitudes, preferences, plans, intentions and behaviors,” said Mark Garrett, director of insurance industry analytics at J.D. Power. “Providers need to know their customers and focus on channels and solutions that work for them.”
Initial call sets the pace and is critical to satisfaction: Of customers who have a strong relationship with their agent, 81 percent contact their agent first for guidance or to report their claim, making what the agent does with this initial phone call a particularly important driver of customer satisfaction.
Happy customers renew, refer: Satisfaction with the claims experience impacts customer retention and referrals. Among delighted claimants (overall satisfaction of 900 or higher), 83 percent say they “definitely will” renew their policy and 84 percent “definitely will” recommend their insurer. Among displeased claimants (scores of 549 and below), only 10 percent say they “definitely will” renew and 10 percent “definitely will” recommend their current insurer.