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The streamlined user experience, seamless customer support and improved navigation that was supposed to define the digital transformation of the property/casualty insurance industry — and improve customer satisfaction — has been overpowered by rising rates, according to the J.D. Power 2022 U.S. Insurance Digital Experience Study released Tuesday.
The study showed that overall customer satisfaction with the property/casualty insurer digital shopping experience is just 499 on a 1,000-point scale, down 16 points from a year ago. This, despite significant investments in customer-facing websites and mobile apps.
“Although insurers keep upping the ante on technology, improvements are being offset by frustration among customers who are going online to shop for a better rate — and not finding one,” Robert M. Lajdziak, director of insurance intelligence at J.D. Power, said in a statement. “We’re also seeing a clear trend in which more than half of digital insurance shoppers are choosing not to use digital tools or educational resources to help them through the shopping process. This further exacerbates the decline in customer satisfaction.”
Meanwhile, the use of digital shopping tools — which help guide insurance shoppers to discounts, policy details and special coverage or unique benefits — is associated with a boost of 137-211 points in satisfaction, depending on which shopping tool is used. However, 54% of insurance shoppers did not use any shopping tools during their quote processes.