Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SOURCE J.D. Power
WESTLAKE VILLAGE, Calif., Sept. 26, 2013 /PRNewswire/ -- Rate increases are driving more customers to obtain competitive price quotes, while satisfaction with the purchase experience is trending downward among new-buyer customers due to lower price satisfaction among new buyers, according to the J.D. Power 2014 U.S. Insurance Shopping StudySM-Wave 1 released today.
"As rate increases continue to drive customers to shop around for the best price, insurers need to provide a seamless shopping experience, including competitive websites with quote compatibilities and a satisfying on-boarding experience to acquire new customers," said Jeremy Bowler, senior director of the global insurance practice at J.D. Power. "Communicating new offerings and allowing customers to tailor their policies helps demonstrate the value of the policy and improve customer satisfaction."
The study, which for the first time is being conducted on a quarterly basis, is based on responses from more than 5,500 auto insurance shoppers. The current wave of the study was fielded in July and August 2013. This information follows the previous reporting period, the 2013 study that published in April. The study examines insurance shopping and purchase behaviors and overall satisfaction among customers who recently purchased insurance across three factors (in order of importance): price, distribution channel, and policy offerings. Retention and shopping rates reflect Q2 2013 results.
Media Relations Contacts
John Tews; Troy, Mich.; 248-680-6218; email@example.com
Syvetril Perryman; Westlake Village, Calif.; 805-418-8103; firstname.lastname@example.org
About J.D. Power and Advertising/Promotional Rules www.jdpower.com/corporate
About McGraw Hill Financial www.mhfi.com
©2012 PR Newswire. All Rights Reserved.