The 2012 U.S. Property ClaimsSatisfaction Study done by J.D. Power and Associates confirmed whatmost insurers already know: Claims satisfaction is directly linkedto customer retention.
Among highly-satisfied claimants who scored their insurers 901or higher on a 1,000-point scale, 84 percent said they “definitelywill” recommend their carrier, and 81 percent said they “definitelywill” renew. Among claimants with scores of 550 or lower, only 12percent said they “definitely will” renew with the carrier thathandled the claim, and 18 percent indicated that they had alreadyswitched carriers.
“Our retention numbers are higher for people who have had aclaim versus those who have not,” says Jamie Loiacono, vicepresident of claims at ACUITY, which maintains a 95 percent ratingof “very good” or “excellent” from claimants in random surveys theinsurer conducts.
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