Erie Insurance earns top ranking in J.D. Power 2023 U.S. Property Claims Satisfaction Study

Erie Insurance has achieved the top ranking in the 2023 J.D.

Rhea-AI Summary

Erie Insurance has achieved the top ranking in the 2023 J.D. Power U.S. Property Claims Satisfaction Study, scoring 912 out of 1,000, a significant 30-point increase from 2022. The company surpassed the industry average by 38 points and excelled in four key areas: settlement, claim servicing, first notice of loss, and estimation process. Erie Insurance's commitment to customer service is highlighted by its trained adjusters who support clients during difficult times. Founded in 1925, Erie is a leading insurer in the U.S., ranking 11th in homeowners insurance.

Positive

• Ranked #1 in customer satisfaction for property claims.
• Score of 912 in J.D. Power study, up 30 points from 2022.
• 38 points above industry average in claims experience.

Negative

• None.

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Erie Insurance is #1 in home insurance claims experience

ERIE, Pa., March 2, 2023 /PRNewswire/ -- Erie Insurance (NASDAQ: ERIE) is ranked highest in customer satisfaction among property and casualty (P&C) insurers in the J.D. Power 2023 U.S. Property Claims Satisfaction Study. ERIE led all P&C carriers in property claims experience, earning a score of 912 out of J.D. Power's 1,000-point scale, a 30-point jump over 2022.

Erie Insurance scored 38 points higher than the industry average in customer satisfaction with the home insurance claims experience in 2023, and was ranked #1 in settlement, claim servicing, first notice of loss and the estimation process – four of the five J.D. Power study factors.

"Since our beginning in 1925," shared Lorianne Feltz, executive vice president, Claims & Customer Service, "Erie Insurance was built on the promise to be Above All in Service. Today, ERIE is still guided by a responsibility to those who depend on us to be there when they need us most."

The J.D. Power U.S. Property Claims Satisfaction Study measures satisfaction with the property claims experience among insurance customers who have filed a claim for damages by examining five factors: settlement; claim servicing; first notice of loss; estimation process; and repair process. The study is based on responses from 5,343 homeowner insurance customers who filed a claim within the previous nine months. The study was fielded December 2021 through December 2022.

"When we're involved in a claim, it's often one of our customer's worst days," explained Cody Cook, senior vice president, Claims. "We're grateful for our highly trained, empathetic adjusters who bring our customers back to pre-loss condition—as well as for our agents who sell the right coverage to fit our shared customers' needs."

For J.D. Power award information, visit jdpower.com/awards. To learn more about ERIE's home and property coverage, visit erieinsurance.com/home-insurance.

About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, 13th largest automobile insurer and 13th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 19th largest property/casualty insurer in the United States based on total lines net premium written. Rated A+ (Superior) by A.M. Best, ERIE has more than 6 million policies in force and operates in 12 states and the District of Columbia. News releases and more information are available on ERIE's website at www.erieinsurance.com.

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SOURCE Erie Indemnity Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Erie Insurance's ranking in the 2023 J.D. Power Property Claims Satisfaction Study?

Erie Insurance ranked #1 in the 2023 J.D. Power Property Claims Satisfaction Study.

What score did Erie Insurance achieve in the J.D. Power study?

Erie Insurance achieved a score of 912 out of 1,000 in the J.D. Power study.

How much did Erie Insurance's score increase from 2022?

Erie Insurance's score increased by 30 points from 2022.

In which areas did Erie Insurance excel in the J.D. Power study?

Erie Insurance excelled in settlement, claim servicing, first notice of loss, and estimation process.

How does Erie Insurance's customer satisfaction score compare to the industry average?

Erie Insurance's score was 38 points higher than the industry average.