Increase Customer Satisfaction After Receiving a Claim

Posted on

November 5th, 2018


First notice of loss (FNOL) represents the single greatest opportunity to establish a positive experience for customers filing insurance claims. However, while it’s the biggest, it’s not the only moment that can score customer satisfaction points. The following are several methods insurance representatives can use to improve the claims process following FNOL.

  1. Keep it simple. Many customers choose to report a loss over the phone, but there are a number of mobile options available to them. However, many of these mobile platforms lack clear instructions on what the insured needs to provide. This means a representative will have to call them and ask them to clarify everything they already provided. This causes the customer to feel harangued and irritated. By providing clear details on mobile apps and websites, insurance providers can ensure a smoother experience.
  2. Speed it up. Many claims stall during the evidence collection phase. Numerous insurers schedule and send out adjusters to assess the damage. Unfortunately, the resources needed to collect and assess the claim’s data are often lacking, causing delays. The more successful insurance providers are starting to rely more heavily on mobile apps to help them collect information to avoid these aggravation-inducing delays.
  3. Update often. Even if there is no change in a customer’s claim status, he or she wants to know about it. Leaving customers wondering where they are in the claims process is frustrating. This can be as simple as an automated email or as personal as a phone call.
  4. Rapid payouts. When an insurer settles a claim, the customer understandably wants their money as fast as possible. While many insurance companies still send check in the mail, some are beginning to offer direct deposit as a much quicker option.
  5. Follow up. Many insurance companies sever communications with customers once they close their claims. However, this wastes a valuable opportunity to get feedback from customers. Insurers can learn where the pain points are in their processes and identify ways to improve.

Considering that 20% of customers never complain and opt to find a new insurance company instead, it behooves insurers to make their claims process as easy and pleasant as possible. To learn more about improving the claims process, contact the experts at Actec.

State of the Industry: FNOL and Customer Satisfaction Metrics

Posted on

March 19th, 2018


shutterstock_487910935s,Homeowners submitted record high claims this year after several severe weather incidents wreaked havoc across the nation. However, their overall satisfaction with the claims process was at a record high. Insurers are able to do so with improved communication. While many believe faster claims resolution improves customer satisfaction (it does), stellar communication can make it even better. This is because insurance representatives can manage the customer’s expectations for a timeline to resolution.

The Facts About Customer Satisfaction

A 2018 study by J.D. Power revealed several illuminating facts about the current state of the insurance industry.

  • Customer satisfaction is at a record high. There are certainly areas that need improvement (Texas and Florida are below the new average), but, in general, customers are happier than ever with their insurance providers. On a 1000-point scale, property claims reached a new height of 860 points. For the second year running, satisfaction with property claims is matching auto claims.
  • Communication and responsiveness are vital to improved satisfaction. Customers want rapid claims resolution, but this is not always realistic. When insurers manage their customer’s expectations on how long it will take to close the claim, the customer has a better overall experience.
  • Adverse weather is taking its toll. Customers are happier with their property claims—except in hard-hit areas. Texas and Florida experienced significant weather issues in the past year, and customers were not happy with how their insurers managed their claims. In particular, time to resolution doubled for weather-related events compared to non-weather-related events.

When scoring insurers, the study looked at five categories (listed in order of importance): settlement, claim servicing, first notice of loss (FNOL), estimation process, and repair process. Insurers that are struggling with low customer satisfaction should focus on improving these areas. While the study ranked settlement as the number one priority, FNOL represents the earliest opportunity insurers have to set the tone of the claim cycle. Actec can help insurers enhance their FNOL process and improve their claims management system. To learn more, contact us today.