Satisfaction rates with the auto insurance claims process are improving among Generation Y consumers, according to research released this week.
The JD Power 2015 US Auto Claims Satisfaction Study found that satisfaction with the claims process had grown to 33% among 18 to 30 year olds in 2015, a 5% increase from 2014.
Satisfaction was calculated on a 1,000-point scale and took responses from 11,469 auto insurance customers who settled a claim within the six months prior to taking the survey. Overall the study showed that average customer satisfaction with the auto insurance claims process is 857 for 2015.
The study found that Auto-Owners Insurance was the provider with the highest consumer satisfaction rating (893), while MAPFRE-Commerce Insurance rated the lowest – 804.
Mark Garrett, director of insurance industry analytics at JD Power, claims the improvement is down to the way that insurers are dealing with claimants.
"Gen Y is the only generation of auto insurance customers that is growing. It's critical that providers continue to focus on those younger generations as they are the future of their business," he said.
But while automobile insurers are focusing on this growing age group, it is important they do not abandon their predecessors. Garrett warned that a ‘one size fits all’ approach will not work when it comes to improving customer experiences.
“Consumers’ needs vary greatly based on their attitudes, preferences, plans, intentions and behaviours,” he said.
