Risk managers for large commercial businesses are "significantly more satisfied" when 11 key performance indicators (KPIs) are met by brokers and insurers, according to the inaugural 2014 Large Commercial Insurers Report from J.D. Power and RIMS, released Dec. 10.
The 11 KPIs—best practices that have the most influence on customer satisfaction—focus on three core areas: limiting customer-reported billing errors and renewal issues; understanding the customer's business; and effective communication.
The survey was initiated because property & casualty insurers who work with large businesses wanted to gain a deeper understanding of what their clients mean by "customer service," says Timothy Bebout, commercial insurance practice leader at J.D. Power.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
