customer satisfaction News
UBI Increases Auto Insurance Customer Satisfaction: J.D. Power Study
Increased data and improved accuracy in risk-based pricing are some of the benefits that auto insurers seek when they adopt usage-based insurance programs, but an added benefit is increased retention ...
Insurers Could Learn From Amazon About Customer Satisfaction
Amazon.com scored its sixth annual victory in the 24/7 Wall Street Customer Service Hall of Fame last year, with 59 percent of customers reporting that they received excellent customer service from ...
Customer Survey Fatigue: Overload May Diminish Their Usefulness
Fourteen years ago, an executive at Bain & Co had a suggestion -- create a short consumer survey to test brand loyalty. The idea took off, so much so that the executive, Fred Reichheld, has ...
Breaking the Cycle of Reduced Profitability
The property/casualty insurance industry is wrestling with a troubling paradox: how to cut costs without compromising quality. The U.S. P/C Composite rate was down 4 percent in December 2015, ...
Responsive Natural Language Technology Promises Better Customer Experience
Natural language technology may offer one way for property insurance carriers to change a disappointing trend revealed in a recent customer survey about insurer claims service, some experts believe. ...
P/C Claims Customer Satisfaction Dips for First Time in 5 Years: J.D. Power
Customer satisfaction with property insurance claims dipped for the first time in five years. The reason why: Carriers appear to be cutting service to reduce expenses in a toughening market cycle, ...
Seven Ways to Embrace a Customer-Centric Culture
The success of any business depends upon customer satisfaction. The cost of acquisition is high. Retention is vital, particularly in today's volatile market, where competition is driving prices down, ...
U.K.’s FCA Finds Small Companies Treated Poorly by Insurers
The U.K.'s Financial Conduct Authority (FCA) criticized the insurance industry for "poor practices" and "significant" failures in handling claims for small and medium-sized companies. The regulator ...