Claim Satisfaction = Brand Loyalty

A survey released by a claims consulting group indicates insurers may be underestimating how important communication and length of time it takes to complete the claims process are to consumers. The study for Accenture‘s claims solution group based in Murray Hill, N.J., found that 94 percent of all U.S. adults cited quick resolution of an insurance claim as a highly important factor in the claims process, while 74 percent felt the settlement amount was more important. The findings, first made public during the Risk and Insurance Management Society conference in New Orleans this month, were commissioned by Accenture to further correlate what customers felt about the claim‘s process with last year‘s loss-cost study (see NU, May 14, 2001, page 6), said David Hollander, Accenture managing partner in the claims solution group.