Offering an accurate timeline of the claims process and helping claimants avoid settlement negotiations greatly improves customer satisfaction with the claims experience, according to the “J.D. Power 2014 Property Claims Satisfaction Study—Wave 2.” The property claims experience study measures satisfaction of those who have filed homeowner damage claims since June 1, 2012, by examining settlement, first notice of loss, estimation process, service interaction and repair process.
"Insurers are doing a better job of setting claimant expectations of the time it will take to settle their claim, which is a significant contributor to overall satisfaction," said Jeremy Bowler, senior director of the global insurance practice at J.D. Power. "Based on feedback from claimants, it is evident that insurers also are more consistently taking time to explain the settlement, which results in fewer claimants negotiating their settlement."
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