USAA Earns Top Ranking with Allstate, American Family Insurance, GEICO, and State Farm Among the Top Five in Verint Experience Index Report
The Verint Experience Index:
The report also informs property insurers how satisfaction influences future customer behaviors. For the top-five ranking companies mentioned above, improving customer satisfaction will most influence policy renewal for
In addition, the report measures Net Promoter Score® (NPS)* – a customer's intent to recommend a company – which can be used as an indicator of business growth, customer experience and loyalty.
“While the global pandemic certainly created new challenges for property/casualty insurers, it also continued to underscore the need to adapt to constantly changing customer expectations. To remain competitive, insurers need robust customer experience insights,” says Verint’s
“Our research shows that there is no one-size fits all when it comes to providing good customer service. Meeting customers where they want to interact, on their time and in their preferred channels is of critical importance because today’s customer journey is omnichannel. It’s vital to capture all the necessary insights across the organization including digital self-service, digital support and local agent channels – all while connecting the data across departments to break down silos, fill knowledge gaps and uncover hidden insights,” he says.
Other key findings from the report indicated:
- The phone experience still matters: Calling to speak to a representative is a top preferred engagement channel for most generations. Ten percent of consumers who first interacted with their insurer via phone had difficulty completing the task during that first interaction, compared to 19 percent who first interacted digitally or in person. Customers who have difficulty on other channels will call for assistance, necessitating a robust omnichannel customer experience.
- Gen Z needs extra attention and support: Gen Z customers (ages 18 to 24) tend to be less trusting and less likely to think they are being treated fairly – contributing reasons for 31 percent considering switching to a competitor. Gen Z customers were more likely to report having difficulty completing their tasks during the first interaction with the insurer – possibly one reason their trust in claims processes and agents is lower.
- Women and men have different priorities: When selecting an insurance policy, women consider the security of their personal information and the deductible more important than men. Men consider the insurer’s reputation and working with an agent to be more important than their female counterparts.
- “Ease of doing business” spans demographics: Across the board, consumers want their insurer to provide a seamless customer experience and coverage that is easy to understand. Gen X and younger generations (ages 18 to 56) however rated the importance of easy-to-understand coverage, easy claims processes, and an easy quote process significantly higher than older generations.
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Survey Methodology
The Verint Experience Index is a web panel survey report chronicling customer experiences across key industries. The Verint Experience Index:
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* Net Promoter, Net Promoter System, Net Promoter Score, NPS and the NPS-related emoticons are registered trademarks of
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