Insurance Information Institute: U.S. Auto Insurers Win Record-High Marks for Claims Handling

NEW YORK, Oct. 27 (TNSRep) -- The Insurance Information Institute issued the following news release:

A new J.D. Power study shows a record high level of customer satisfaction among U.S. auto insurance policyholders who filed a claim over the past year, according to the Insurance Information Institute (Triple-I).

"It is extremely rewarding to see the insurance industry's exceptional work being recognized by their most important critic: the American consumer," said Sean Kevelighan, CEO, Triple-I. "During the pandemic, the nation's auto insurers have worked non-stop to provide relief and economic security to policyholders who had to file a claim. This is in keeping with their role as society's financial first responders."

The 2020 U.S. Auto Claims Satisfaction StudySM found increases in U.S. auto insurer performance across nearly every factor J.D. Power measured, including claim servicing, the estimation process, the repair process, the car rental experience, and the settlement. Other key findings revealed:

* Auto insurers scored 872 on a 1,000-point scale, their highest mark ever

* Auto insurer claims satisfaction scores have risen for three consecutive years

* Auto insurer direct repair programs (DPR) are increasingly popular

The study's findings were based on responses from 11,055 auto insurance policyholders who settled a claim within the past six months prior to taking the survey. The study excluded claimants whose vehicle incurred only glass/windshield damage or was stolen, or who only filed a roadside claim. The study was fielded from November 2019 through September 2020.

Given the reduced mileage on U.S. roads this year, auto insurers have offered payment relief options to their policyholders, including more than $14 billion in premium paybacks.

The Triple-I is also educating the public about the various proposals to cover future pandemic risks through its Future of American Insurance and Reinsurance (FAIR) campaign.

* * *

REPORT: https://www.jdpower.com/sites/default/files/file/2020-10/2020137%20U.S.%20Auto%20Claims%20Study.pdf