Insurance Companies Falling Short on Digital Customer Engagement, J.D. Power Finds
"The customer expectation for a standout digital experience is rapidly being set by digital-native consumer brands like Amazon, Netflix and Uber," said
This year's study was expanded to include an assessment of a carrier's overall digital performance based on an industry agnostic view of digital best practices, combined with customer perceptions of their interactions with the 19 largest P&C insurance brands in
Following are key findings of the 2018 study:
- Surface-level design masks poor insurance functionality: While insurers have succeeded in creating attractive user interfaces, they have lagged when it comes to core insurance functionality. Most insurers' digital offerings are lacking in insurance-specific capabilities such as processing claims, effective shopping and servicing of policies. As consumers increasingly expect to interact seamlessly with an insurance brandâregardless of the channelâmost insurers are falling short on digital capabilities.
- Personalization and consistency needed industry-wide:Â Across the study, insurers that perform highest in personalizationâby aligning insurance offerings and customer needs; offering benefits tailored to certain customers; and delivering timely guidanceâtend to have high digital customer satisfaction scores. Likewise, those that deliver consistently across digital componentsâranging from chatbots to app featuresâearn the highest satisfaction scores.
- Allstate performs well in digital shopping: Among the top performers in the study for overall insurance shopping experience, Allstate scores 808 (on a 1,000-point scale) for shopping satisfaction, significantly above the industry average of 779. This high score is driven by strong performance in three shopping factors: ease of navigation; availability of key information; and clarity of information.
- GEICO sets the bar for digital service experience: Among the top performers in the study for service experience, GEICO scores 878 for service satisfaction, significantly above the industry average of 850. This high score is driven by strong performance in all five servicing factors in the study: ease of navigation; appearance; availability of key information; range of services; and clarity of information.
"The modern customer experience is heavily driven and supported by a company's digital ecosystem, even in relationship-based industries," said
The 2018 Insurance Digital Experience Study is based on evaluations from 11,304 respondents, and was fielded in February-
See the online press release at http://www.jdpower.com/pr-id/2018092.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable
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