J. D. Power: Higher Levels of Customer Satisfaction with Property Claims

Homeowners insurance customers are more satisfied with the property claims experience overall, according to the J.D. Power 2014 Property Claims Satisfaction Study — Wave 2. Overall claimant satisfaction increased to 848 (on a 1,000-point scale) in Wave 2 of the study, up from 832 in Wave 1. J.D. Power says the improvement is due to insurers providing accurate timelines of the claims process length and helping claimants avoid settlement negotiations. In a press release, Jeremy Bowler, senior director of the global insurance practice at J.D. Power, said: Insurers are doing a better job of setting claimant expectations of the time it will take to settle their claim, which is a significant contributor to overall satisfaction. Based on feedback from claimants, it is evident that insurers also are more consistently taking time to explain the settlement, which results in fewer claimants negotiating their settlement.”