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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> customer satisfaction

Considerable decline found in customer satisfaction with insurance companies

Posted by RJ and Makay on Aug 11, 2010

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Customer satisfaction photo_verybig_104172with insurance companies dropped considerably in 2010, after having peaked in 2009, according to results from the J.D. Power and Associates 2010 U.S. National Auto Insurance Study. Overall customer satisfaction this year fell by 10 points on the 1,000-point scale used in the study to measure customer satisfaction with auto insurance companies. Satisfaction is measured by weighing five factors: interaction; policy offerings; billing and payment; price; and claims. A steep drop in price satisfaction of over 30 index points compared to 2009 is largely to blame for the overall decline in 2010.