Reasons vary as to why insurance consumers choose an insurance company.

Some do so because of a recommendation from an independent insurance agent. Others decide because of the reputation of the company. And yet others choose based on the suggestion of a friend or colleague who has experienced an insurance claim.

Once they’ve chosen a company, customers choose to stay based on how the company treats them.

Claims service that doesn’t reach a customer’s expectation is a big reason for leaving a company. Many of those stay-or-leave decisions are made following the “moment of truth” ― when the policyholder experiences an insured loss and goes through the claim process.

On average, the insurance industry has customer retention of just 84%, meaning 16 out of 100 customers leave their insurer in any given year.

Fortunately for Westfield, customers have told us what matters to them in these critical incidents that make or break their satisfaction. Four key drivers of customer experience are:

•  Timeliness of service and resolution.
• Communication.
• Process effectiveness.
• Insurance adjuster attitude and approach.

And most important of those four factors is the insurance adjuster’s attitude and approach. It refers to the relationship that the claims adjuster ― a Westfield employee or a third-party contractor who is responsible for assessing damage ― begins upon first contact with the customer and continues throughout the claims process.

Insurance customers respond most positively to empathy. In a study of nearly 25,000 Westfield claims satisfaction surveys, the majority cite “positive or empathetic adjuster attitude and handling approach” as the reason for high customer satisfaction. By contrast, poor communication led to poor customer satisfaction.

These results come from a study of Westfield customers conducted by Hi Marley, provider of a platform for carrier-policyholder communications. This important research allowed Westfield to review and categorize claims survey responses to determine the most frequent drivers of optimal and suboptimal consumer claims experiences.

What we learned: How Westfield treats its customers is the most important element in whether they continue to do business with us.

Robert Bowers, national claims and customer service leader at Westfield Insurance, noted: “Not only is providing excellent customer service the right thing to do, but there’s also a genuine business impact. We know that when our policyholders are satisfied, we’re more likely to retain them.”

The Westfield team is grateful for our customers, and we thank those who have shared their opinions about our customer service. We look forward to continuing to serve them.

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Sources:

Press Release: “Study of Nearly 25,000 Customer Satisfaction Surveys Reveals Top Drivers of One- and Five-Star Insurance Claims Experiences” (featuring quote from Robert Bowers): www.himarley.com/news/study-of-nearly-25000-customer-satisfaction-surveys-reveals-top-drivers-of-one-and-five-star-insurance-claims-experiences  

White Paper: “Consumer and Carrier CX Insights: What Drives 1-Star and 5-Star Customer Satisfaction Scores in Claims” Whitepaper-What-Drives-1-and-5-Star-Scores-In-Claims-1.pdf (himarley.com)

Blog: “How Westfield Insurance Drives 5- Star Claims Experiences” www.himarley.com/blog/how-westfield-insurance-drives-5-star-claims-experiences

Infographic: www.himarley.com/wp-content/uploads/2022/03/Infographic-Driving-1-5-Star-Customer-Claims-FINAL1.pdf

Customer Loyalty and Retention Primer. https://www.iiadallas.org/page/75