26th May 2019
The J.D. Power 2019 Insurance Digital Experience Study has been released. The study, now in its 8th year, evaluates digital consumer experiences among US P&C insurance shoppers seeking quotes and existing customers conducting typical policy-servicing activities. The study examines the functional aspects of websites and mobile apps based on five factors(in order of importance): ease of navigation; appearance; availability of key information; range of services; and clarity of the information. The 2019 Insurance Digital Experience Study is based on 11,151 evaluations and was fielded from January through March 2019.
The following are key findings of the 2019 study are:
-Mobile apps gain traction as preferred account servicing channel: Satisfaction with account servicing experience is higher among customers who use the mobile app channel than among those who use a desktop or smartphone website to interact with their insurance company. Overall satisfaction with mobile app service experience is 12 points higher(on a 1,000-point scale) than last year. Currently, 74% of insurance companies evaluated in the study offer the ability to access and manage policy and claims information via a mobile app.
-Insurers’ digital maturity stunted by lack of resourcefulness: While most companies’ websites are highly responsive and meet brand standards, they fall short on delivering the types of expanded self-service tools, integrated digital communications functionality and contextual insurance information that would put them on par with leading websites in other industries.
-Watch for InsurTech partnerships in the months and years ahead: InsurTech start-ups are affecting the traditional insurance marketplace by providing customer-centric digital solutions and money-saving process efficiencies for insurers. Many traditional carriers, such as Nationwide, American Family and Allianz, have already partnered with Insurtech start-ups—and more collaboration is expected.
(InsurTech startups have definitely been on the radar of J.D. Power. Besides Cover, the mobile shopping firm that launched a service in Texas, there’s Hippo, which is a fairly new company, but which has begun to redefine how customers interact with insurance.
J.D.Power Trends(20 articles)