Are Carriers Exceeding Expectations or Falling Short?

Overall, claims professionals have made great strides in their digitalization and automation efforts. Considering that increases in satisfaction with the customer claims experience occurred when the supply chain was unpredictable, inflation soared and sourcing adjusters was especially challenging, we should celebrate these accomplishments.

While we shouldn’t take away from those gains, consumers still report dissatisfaction with claims handling, the claims experience and with the ease of their interaction.

When expectations don’t align with experiences, a percentage of customers will consider taking their business elsewhere.

• At LexisNexis Risk Solutions, we wanted to understand the correlation between claims satisfaction and a policyholder’s decision to switch carriers.
• In our effort to pinpoint top drivers that lead to carrier switching, we wanted first to examine our own data sets for consumer switching trends.
• Our research shows that one-third of an insurance carrier’s business could be at risk following an auto claim.

 Complete the form to download the whitepaper for these and more customer claims experience insights.