LexisNexis Risk Solutions: One-Third of a Carrier's Business Could be at Risk Following the Auto Insurance Claims Experience
ATLANTA, June 7, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions, a leader in claims data and analytics for the insurance industry, today announced findings from its study examining the link between auto insurance claims and customer experience and retention. The study is comprised of two parts: consumer feedback from more than 1,400 insureds who experienced a claim within the past 12 months, coupled with an analysis of a customer's propensity to switch auto insurance carriers post-claim. Findings have been published in the whitepaper, Exceeding Expectations or Falling Short? U.S. Auto Insurance Claims Trends, Insights and Impacts Revealed.
- ATLANTA, June 7, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions , a leader in claims data and analytics for the insurance industry, today announced findings from its study examining the link between auto insurance claims and customer experience and retention.
- U.S. Auto Insurance Claims Trends, Insights and Impacts Revealed .
- "We know consumers leave their insurance carriers following the auto claims experience, and we wanted to look at dissatisfaction from multiple angles to root out its causes," said Tanner Sheehan, vice president and general manager, U.S. Claims, LexisNexis Risk Solutions.
- "First, we found that one-third of a carrier's business is at risk following an auto insurance claim, and then we dove deeper to pinpoint which factors are triggering switching behavior."