Claims are often considered a significant part of the relationship between a policyholder and their insurer. To better understand the expectations of policyholders in France who experienced water, fire or other related damage in their home, we reviewed our recent customer satisfaction study, in partnership with the Argus de l’Assurance. A panel of policyholders who have experienced a claim in the last 18 months were included in the study, based on losses in their homes (for private customers) and in their businesses (for professionals). In this blog, I will highlight some key observations from the 2024 study compared to the 2022 edition.
Even if insurers regularly measure their net promoter score (NPS), an independent benchmark is always useful to monitor digital trends in customer experience and satisfaction. The results would display how customers feel about the support received when they enter a contract, at the time of a loss, and when an expert intervenes during the repair.
Key observations
In terms of communication channels for both underwriting and claims, the 2022 figures considered post-COVID digital habits that have since faded. While the French are still using a mix of digital (e-mail and internet) and direct (telephone or in-person) tools, the demand for human contact is clear. In fact, 7 out of 10 individuals and 8 out of 10 professionals say they prefer the telephone or on-site option for both underwriting and claims.
In the event of a claim, contact at the time of the declaration is critical. The claim corresponds to a traumatic moment, and policyholders want their insurer to be present throughout the process. In the last two years, many large-scale events of all nature have occurred. But all players in the value chain have made significant efforts to improve their service. Processes have been adapted to meet the preferences of the insured, while offering a personalized path. The use of online, 24/7 reporting tools to manage those events makes it possible to keep the insured aware of the management of his or her claim, and to shorten claim durations.
Today, overall satisfaction with a home claim in France for individuals stands at 7.8, a significant improvement from 2022 (7.5). This score shows that the efforts made by insurers to share information and improve turnaround times has been successful. The items that have improved the most since 2022 include: information on claims follow-up, consideration of expectations in relation to the situation, and claims handling times.
Finding solutions
For professionals, overall satisfaction in the event of property damage stands at 7.5, with a particular focus on the response time after a claim has been declared and the time taken to manage claims. We also note that professionals are looking for solutions proposed directly by their insurer to ensure business continuity.
The advantages of in-kind repair, a method of claim settlement increasingly adopted by the French, meet a greater success as inflation stays high. By introducing a network of craftsmen and building contractors, this service makes it possible to shorten the repair times in advance of funds. In 2024, 63% of home claims are orientated to those kinds of solution vs 59% in 2022. Professionals are even more kind to adopt such solutions: 76% appreciate their speed, quality of work and lack of excess fees.
Focusing on loss adjusting, the satisfaction score rose faster than overall policyholder satisfaction, reaching 8.7 for both market segments, individuals and professionals. In this way, loss adjusting is becoming a real driver of policyholder satisfaction, thanks to the efforts of loss adjustors networks in terms of explanations, loss adjustors’ attitude and real-time monitoring by policyholders of the status of claims.
Finally, in terms of environmental, social and governance (ESG), if the French are still reluctant to accept paying a higher remaining charge for a repair solution with a lower CO² impact, they are more willing to agree to postpone their loss adjusting appointment by 72 hours to help reduce the latter’s C0² impact. Professionals are more willing to buy in to ESG initiatives to meet the expectations of their clients. In fact, 49% are ready to accept an increase of their remaining costs, and 61% to postpone their appraisal appointment to improve the carbon footprint of their claim.
Opportunities for improvement
This study confirms our conviction that we are on the right track in terms of policyholder satisfaction, by providing technological solutions to time-sensitive issues, and by placing the human element at the heart of customer relations. We are committed to regularly assessing our practices and the expectations of the French, with particular attention paid to the specific needs of professionals, for whom we have just launched a dedicated service offering.
Learn more > Explore the survey results here.
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