Digital investments begin to pay off for P&C, J.D. Power finds
J.D. Power’s 2020 U.S. Insurance Digital Experience Study found that insurers have made across-the-board improvements in clarity of information, but many still struggle with the balance of too much information and a minimalist approach.
Overall customer satisfaction with the P&C insurance customer service experience improved nine points year over year on J.D. Power’s 1,000-point scale, and overall satisfaction with the shopping experience improves 18 points, as the past several years of investment in digital start to pay off.
Tom Super, head of property and casualty insurance intelligence at J.D Power says, “Even before the pandemic, P&C insurers were investing heavily in digital to capture the growing legions of customers and prospects who are experiencing their brands largely via web and mobile. Across the board, we’ve seen the fruits of those investments: overall satisfaction scores for both new insurance shopping and existing account servicing have risen sharply during the past year.
Each year, the market-research firm and partners Centric Digital and Corporate Insight evaluate digital consumer experiences among P&C insurance shoppers seeking quotes and existing customers conducting typical policy-servicing activities. Currently in its ninth year, the review examines the functional aspects of desktop, mobile web and mobile apps based on five factors: ease of navigation; appearance; availability of key information; range of services; and clarity of the information.
“Increasingly, insurers’ ability to balance providing the right information at the right time in a format that represents their unique identity will be the key differentiator that separates industry leaders from the rest of the pack.” Michael Ellison, President of Corporate Insight says.