New TeleTech Research Uncovers the Secret to Customer Satisfaction During the Claims Process
Omnichannel Consistency Can Make or Break the Customer Relationship When Policyholders File a Property and Casualty Insurance Claim
New home and auto insurance customers make up less than five percent of the entire market, according to Bain.1 As a result, growth comes from either retaining policyholders or stealing them from competitors. Many variables work together to make up the claims experience—understanding and focusing on the right levers to drive customer satisfaction is key to staying competitive.
- The most used channel was phone with eighty-nine percent of respondents stating that they talked to a representative over the phone or in person for their last claim.
- The phone channel had the highest channel satisfaction rate and impact on overall satisfaction, followed by speaking to a rep in person, and then using the website, mobile app, and self-service.
- Respondents who used chat all used some other form of communication along with it. They were less likely to use the phone, but more likely to use all other channel options when compared to respondents who did not use chat.
- There was a slight increase in satisfaction when policyholders went from using one to two channels. Then there was a substantial drop in overall satisfaction for the claims process when a customer used three or more channels.
- It can be inferred that if people did not resolve their issues through the first two channels, they had to find other ways of getting information, which negatively impacted their satisfaction level.
"Because the claims process is such a critical event in the life of a P&C insurance customer, it's paramount that insurance providers get it right," said
1 Bain, 2015