- More than one in six (17 percent) of customers surveyed admitted to overstating the value of their loss when they last submitted an insurance claim, but this admission of overstatement drops to 8 percent among those who are "very satisfied" with the management of their claim.
- Only 11 percent of survey respondents who have heard about mobile applications are currently using a mobile application for insurance, although 53 percent of those who have heard about such applications plan to use one in the future. More than one-third (37 percent) who have heard about such applications said they are not interested in using them.
- Customer satisfaction with claims experience varies from country to country; it is highest in Denmark (92 percent), the Netherlands (91 percent) and the United States (90 percent) and lowest in Italy (73 percent) and Spain (76 percent).
"The survey findings underscore the 'make-or-break' nature of the claims experience for insurers," said Costonis. "Customers dissatisfied with how a claim is handled are not only likely to switch insurers; they are also likely to share their unhappy experience via social media. Insurers need to rethink their claims operating models, organizational structures and even their corporate cultures to get in sync with today's demanding and digitally connected customers."
Methodology
Accenture surveyed 7,875 insurance policy holders online in the month of May 2014. Of the respondents, 4,015 answered the survey with regard to their auto insurance and 3,860 with regard to their home insurance. Forty percent of the respondents had submitted an auto or household insurance claim in the previous two years. The 7,875 respondents included 1,000 from the United States, 571 from Canada, 569 from the United Kingdom, 560 from Finland, 544 from Norway, 537 from Sweden, 520 each from the Netherlands and France, 516 from Italy, 514 from Denmark, 507 from Turkey, 503 from Germany, and 500 each from Spain and Brazil.
About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with more than 305,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.