Today’s customers aren’t just more demanding than ever. They’re also less loyal than ever. In fact, this propensity to switch carriers has created what Accenture calls the “switching economy” and it’s worth an estimated $5.8 billion each year in the United States alone.
The Accenture Claims Customer Survey reveals the surprising link between filing a claim and a customer’s switching behavior.
The claim is a powerful trigger for switching insurance providers
These findings should compel insurers to take measures to minimize the incidence of claims—perhaps by offering risk management advice or alerts. The benefits of doing so include reduced loss costs, and more important, improved customer retention.
- View Why claims service matters, part 1: Customer satisfaction
- Read our latest thinking on Claims
- Email me to discuss how Accenture can help you transform your claims function.