Auto insurance websites are more important to customer experience than agents

Auto insurance websites - people showing interest in website

A new J.D. Power study showed that insurer digital experiences now lead in satisfaction importance. The J.D. Power 2020 U.S. Auto Insurance Study released last week revealed that auto insurance websites have become more important to the customer experience than human agents for the first time. This was the first time in the 21-year life of the study that digital came out on top. The study found that auto insurance websites had a bigger impact on customer satisfaction than human agents. This suggests that if insurers want to score the…

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Coronavirus auto insurance discounts may harm customer loyalty instead of helping

Coronavirus auto insurance discounts - Man Looking at Computer Thinking

J.D. Power data shows that the refunds and credits are increasing a policyholder’s odds of switching. Across the country, insurers are offering their various versions of coronavirus auto insurance discounts. These are meant to help make sure policyholders aren’t paying more than what their risk level justifies as many people drive far less than they usually would. A new J.D. Power study indicates that providing this savings is making customers more prone to leaving. The study showed that the coronavirus auto insurance discounts are not improving customer loyalty. In fact,…

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1 in 5 Consumers accept Amazon and Google as homeowners insurance companies

Homeowners insurance companies - Home in bubble over hand

A J.D. Power survey showed that shoppers see these tech giants as acceptable home insurers. One in five consumers said in a recent J.D. Power survey that they would be willing to use Amazon or Google as homeowners insurance companies. Among those who participated in the survey, 80 percent were already insured by a large national carrier. Amazon and Google have both dabbled in the insurance industry and are expected to become increasing participants in the marketplace. Earlier in August, media reports showed that Amazon was testing the waters in…

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Loyalty may mean consumers are paying more for auto insurance coverage

auto insurance premiums

Consumers could find less expensive coverage if they switch carriers Loyalty may be costing drivers in terms of auto insurance premiums. Many consumers opt to stay with their insurance provider because they are provided with certain benefits, such as credit toward insurance payments or discounts on other services. This loyalty may not be as beneficial to consumers as they believe, however, and they could find less expensive auto insurance coverage by switching to another insurer, and this may be a greater benefit than the loyalty rewards they are receiving from…

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Millennials are unsatisfied with interaction with homeowners insurance companies

homeowners insurance rates

Insurers are having trouble interacting with Millennials Homeowners insurance companies may be failing to meet consumer expectations when it comes to interaction, according to a new study released by J.D. Power, a global marketing research and information services firm. The study highlights “Gen Y” consumers, typically referred to a Millennials, as having the lowest satisfaction with insurers and their ability to interact with consumers. This demographic typically represents those born in the early 1980s and early 2000s and these people are becoming first-time homeowners and have high expectations of the…

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Satisfaction with auto insurance has never been higher in the US

car auto insurance

New study highlights consumer satisfaction in the auto insurance sector Global market research firm J.D. Power has released its latest U.S. Auto Insurance Study. The study highlights many of the trends that have emerged in the country’s auto insurance sector and examines how these trends are affecting the insurance business. This year, the study showed that consumer satisfaction has reached an all-time high, despite the fact that insurance premiums have been on the rise for the past five years. Satisfaction reaches 810 points, highest since annual study was first published…

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Insurance news looks good for customer satisfaction this year

car auto insurance

Auto insurers are enjoying the fact that they are pleasing their policyholders at record levels. J.D. Power is making insurance news with the release of its recent study report which has shown that vehicle owners are quite satisfied with their auto insurers, to the point that this satisfaction level has now reached record breaking levels since 2000. That date is important as it represented the first year that the U.S. Auto Insurance Study was conducted by J.D. Power. Even though the insurance news over the last five years has consistently…

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