Vehicle Values, STP Drive Record-High Auto Insurance Claims Satisfaction

The nationwide surge in used vehicle prices has given an unexpected boost to auto insurance customers who experience a total loss---their vehicles might be worth more than they thought.

This phenomenon of higher replacement values, combined with advancements in straight-through-processing (STP), has driven customer satisfaction with auto insurance claims to a record high in the J.D. Power 2021 U.S. Auto Claims Satisfaction Study, released Oct. 28.

Despite these gains, however, the industry is facing new challenges with increased vehicle complexity thanks to the growth of advanced driver assistance systems (ADAS), which are contributing to rising severity cost.

‘The auto insurance industry has been investing heavily in streamlining the claims process and those investments are starting to pay off in the form of faster cycle times and record levels of satisfaction,’ said Tom Super, head of property and casualty insurance intelligence at J.D. Power.