J.D. Power: Highest-Ever Claims Satisfaction
According to the J.D. Power 2017 U.S. Property Claims Satisfaction Study, about one of every 15 U.S. homeowners insurance policyholders files a claim each year, and these claimants have given insurers their highest ever satisfaction ratings, with a record score of 859 on a 1,000-point scale, up from 846 last year. The satisfaction scores are based on five factors: settlement; first notice of loss; estimation process; service interaction; and repair process.
Insurance Information Institute President and CEO Sean Kevelighan said this year’s survey results are a “clear reflection that the industry's hard work and dedication are delivering the intended results.” Some observers believe the satisfaction ratings undermine the position of some insurtech startups that promise to revolutionize what they perceive to be a consumer-unfriendly insurance experience.