Insurers are Raising the Nation's Property Claims Satisfaction

Posted on September 18, 2015

Recent data from J.D. Power shows the importance of the claims process in an insurance company’s long-term success, and it highlights the significance of insurance adjusters.

PropertyCasualty360’s analysis of J.D. Power’s findings clearly show how insurance adjusters can serve the companies that hire them well.

Loyalty Increased, Thanks to Greater Satisfaction

The main finding of J.D. Power’s annual property claims satisfaction ratings survey was an 11-point increase (on a 1,000-point scale) in customer satisfaction.

This is good news for insurers’ bottom lines, as there is a direct correlation between customer satisfaction following a claim and customer loyalty. The survey looked at how customers rated their experience filing a claim and how likely customers were to switch carriers after a claim. The data shows:

  • 3% of customers who were”delighted” switched carriers
  • 7% of customers who were “pleased” switched carriers
  • 9% of customers who were “indifferent” switched carriers
  • 11% of customers who were “displeased” switched carriers

Satisfaction Comes from the Agent

PropertyCasualty360’s analysis of the data also shows a strong correlation between the role an agent played in the claims process and the claimant’s satisfaction. When an agent was the primary contact for the claim, customers ranked their experience 72 points higher than when an adjuster was the main contact person.

Work with the Claimant’s Agent

If you’re an insurance adjuster, you can use these findings to improve the property claims satisfaction ratings of the claimants you work with. Even though you must process the claim, incorporate the claimant’s insurance agent into the process whenever you can. You might:

  • contact the claimant’s insurance agent early in the claims process
  • encourage the claimant to ask for help from their agent
  • let the agent be a go-between for you and the claimant

Simple tactics like these will lead to more satisfied, and more loyal claimants, which, in turn, will lead to a happier insurance company.

At Pilot Cat, we pride ourselves on quality and stand up insurance adjusters. For more information on how you can join our team, contact us today.