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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Auto insurance claims satisfaction is higher than ever before

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A new J.D. Power study showed there is still a struggle in getting customers to report over digital channels. Auto insurance claims satisfaction has hit an all time high, according to the outcomes of a new J.D. Power study. That said, insurance companies are still finding it challenging to get their customers to use digital claims reporting tools and products. The nature of claims has been undergoing an important change, but insurers appear to be keeping up. “These findings are noteworthy in light of claim severity outpacing the decline in…

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