Auto Insurance Claims Make or Break Client Relationships With Their Insurance Provider

Auto Insurance Claims Make or Break Client Relationships With Their Insurance Provider

How well auto insurance providers handle claims may make or break the relationship with their customers, according to the J.D. Power 2013 Canadian Auto Claims Satisfaction Study, released July 29.

The inaugural study measured customer satisfaction with the claims experience for auto physical damage loss. Depending on the complexity of the claim, a claimant may experience some or all of the following factors that are measured in the study: first notice of loss; service interaction; appraisal; repair process; rental experience; and settlement.

Although settlement proved to be the most important factor in overall satisfaction among both total loss and repair claimants, the first notice of loss (FNOL) — the first phone call a customer makes to their insurance provider — sets the tone for the rest of the claims process. The first phone call averages 18 minutes, according to the study.

 

“If that initial call goes well, odds are good that the claims process will go well and also bodes well for the long-term relationship with the customer.”

“The first call to notify the provider of the damage is critical to customer satisfaction with the entire claims process,” said Jeremy Bowler, senior director of the insurance practice at J.D. Power. “If that initial call goes well, odds are good that the claims process will go well and also bodes well for the long-term relationship with the customer.”

The study finds that claimants who receive an explanation during the first call with their provider of what to expect during the claims process are significantly more satisfied. While a majority (87%) of claimants receive an explanation, overall satisfaction declines by a substantial 169 index points, on average, when claimants don’t receive an explanation of the process.

Satisfaction among claimants who have all of their questions answered during the first call averages 810, compared with an average of 651 among claimants who do not get all of their questions answered during this call.

Managing expectations

Managing claimants’ expectations regarding the settlement—and avoiding surprises—is critical to a satisfying settlement experience. The study finds that, overall, 90 percent of claimants are satisfied with the settlement—which is the largest contributor to overall satisfaction with the claims process.

“Communication between the provider and the claimant is critical during the settlement phase,” said Bowler. “The claimant wants to know what is and isn’t covered by their policy, the extent of the damage to the vehicle, and how and when it will be repaired or replaced. It’s really about setting claimants’ expectations and then meeting them.”

While claimants are most satisfied with the repair process, which averages 805 index points, satisfaction with the appraisal process is lower than for any other factor in the study.

“Insurance is a product people buy because they have to, but hope they never need to use,” said Bowler. “They really see the value of their investment if they need to file a claim. If the appraisal of damages comes in lower than what they expect, they are naturally going to be disappointed.”

Regional Findings

Overall customer satisfaction with the auto claims experience in among Canadian provinces included in the study averages 787. Satisfaction varies greatly by province, ranging from a high of 840 in Quebec to a low of 753 in Manitoba. Among other provinces, Ontario averages 800; Alberta 770; British Columbia 767; and Saskatchewan 760.

The 2013 Canadian Auto Claims Satisfaction Study is based on responses from 2,458 auto insurance customers in Canada who settled an auto insurance claim within the past 18 months. The study excludes claimants whose vehicle incurred only glass/windshield damage or was stolen, or who filed a roadside assistance claim only. The study was fielded between April and June 2013.

Read the full report, and subscribe to daily or weekly Canadian insurance news updates at ILStv.com.

Become a Certified Ontario Auto Expert with a new insurance training course from ILScorp.com. Online Continuing Education Courses for insurance brokers in other provinces are also available.

Prepare to Write Your CAIB Exams and Earn Your CAIB Designation With Help From ILScorp

Prepare to Write Your CAIB Exams and Earn Your CAIB Designation With Help From ILScorp

ILScorp offers insurance training and exam prep courses for CAIB 1, 2, 3, & 4, both through online video training, and, starting Aug. 12, with a 4 week virtual classroom program.

If you are just starting your insurance career, then the CAIB 1 Exam prep course is for you. Learn the fundamentals of working in the insurance industry, and prepare to write your CAIB 1 licensing exam.

Looking to earn your CAIB 2, 3, or 4 designation? ILS can help there too!

Our interactive, online CAIB Exam Preparation video courses combine the dynamic instruction of Todd Hochban with the ease and convenience of online learning. Each CAIB insurance training course contains streaming video, and is divided into easy-to-manage chapters. Each chapter includes 10-20 video clips, along with easy to read text. Numerous exercises and mock exams help to reinforce knowledge retention.

Study online with 24/7 access to the program, allowing you to work on your own schedule. Or if you want more guidance, start the ILS CAIB Virtual Classroom program on Aug. 12 and receive a study schedule, daily emails and quizzes and more.

Online self-study is a proven way to successfully prepare for insurance licensing examinations. Study at your own pace, at your own convenience. Stop the program at any time and return when you want. Go back over difficult-to-grasp points as often as you wish.
More than 80% of students who prepare to write their CAIB exams with the ILScorp CAIB tutorial courses are successful.

Through ILS’s online courses, you’ll receive the same dynamic instruction as students who attend classroom sessions. Long-time insurance educator Todd Hochban brings his successful “need-to-know” approach to this video production. Preparing to write the CAIB 1, CAIB 2, CAIB 3, and CAIB 4 examinations has never been easier!

Once you’re ready to write the exam, contact your local insurance council to arrange your exam.

Instructor Todd Hochban highly recommends using the CAIB textbook in conjunction with the ILScorp CAIB Programs to thoroughly learn the material. CAIB text books can be purchased through your provincial brokers association. Contact the association directly for more information.

And remember when it comes to CAIB – ILS wrote the book! Our founder and past president Steve Hawrishok developed and wrote the CAIB course.

If you’re ready to start, call ILS today or register online at ILScorp.com. If the more in-depth Virtual Classroom is for you, take $100 off with the promo code SUMMERSTART, only until Aug 15th. Call 1-800-404-2211 today.

Considering a Career in the Insurance Industry? Find Your Online Insurance Courses at ILScorp

Considering a Career in the Insurance Industry? Find Your Online Insurance Courses at ILScorp

Are you considering an insurance career? Wondering where to find an insurance training course? ILScorp is here to help you get started working in the insurance industry in Canada.

According to Statistics Canada, more than one million Canadians were employed in the insurance and financial sector in 2012 – and there’s always room for more. Think about it – that’s one million Canadians enjoying a rewarding insurance career, and those numbers continue to grow!

Consider the following numbers from Insureconomy, a review of the insurance sectors in Ontario, New Brunswick and Nova Scotia:

  • From 2004 to 2010, total employment in the insurance industry across New Brunswick grew by 49 percent – faster than all other provinces in Canada.
  • The insurance industry has been growing steadily in Ontario since 2005, with insurance carriers increasing their workforce by 18 percent. Overall, the insurance industry increased total employment by over 12 percent – well above the provincial employment growth rate of only 4 percent.
  • Direct employment in Nova Scotia’s insurance industry has been on the rise since 2005. From 2005 to 2008, 655 new jobs were created by the insurance industry.

There’s never been a better time to get involved in this growing and dynamic industry.

The first step to starting your insurance career is through accredited insurance training and a provincial insurance licensing course and exam. Programs include CAIB preparation, Alberta Level 1&2, and the ILS Introduction to General Insurance. Find the details of what’s required in your province or territory, and see how ILScorp can get you on your way to rewarding insurance career.

Call ILScorp at 1-800-404-2211 or visit ILScorp.com and get started today.

Jumpstart Your Insurance Career With a Licensing Summer Start in ILS’s Virtual Classroom

Jumpstart Your Insurance Career With a Licensing Summer Start in ILS’s Virtual Classroom

Start your insurance training this summer. Learn now and be job-ready by the time others are only headed back to school. The ILS Level 1 Licensing virtual classroom programs start Aug. 12 and run for four weeks. By Sept. 6, you can be ready to start your career in the Canadian insurance industry.

And, register now for the Aug. 12 start date and save $100.

Use the promo code SUMMERSTART and pay only $450 plus tax for any of the ILS virtual classroom courses, including the insurance licensing program ILS Introduction to General Insurance (valid in BC, Manitoba and Saskatchewan).

Other insurance exam preparation courses offered this August through the ILS virtual classroom include Fundamentals of Insurance and the CAIB 1, 2 3 or 4 Exam Preparation.

The ILS Introduction to General Insurance has a pass rate of more than 80% among students using the Virtual Classroom study program. The virtual classroom courses include a daily assisted learning calendar, online video courses, daily email quiz questions, weekly practice exams, and online discussion forum and review videos.

Register today at ILScorp.com and be on your way to a rewarding insurance career. Once you’ve registered, the ILS staff will be in touch within 24 hours to get you set up and ready to learn.

This offer expires August 15, 2013. Does not apply to already discounted rates, or previous purchases.

For more information call 1-800-404-2211.

 

Adjusters, new accredited course on Water Loss Restoration now available!

Adjusters, new accredited course on Water Loss Restoration now available!

Just in time for the Manitoba Adjusters CE Credit deadline, ILScorp launches new course on Water Loss Restoration.

“I’m really looking forward to how this will help us do our jobs better every day.”

Arm yourself with the knowledge you need to be confident, effective and efficient.

The new Basic Water Loss course, created by RIA and ILScorp, is an entry-level online training program addressing broad knowledge for those interested in the practice of water damage restoration.

RIA Water Loss Course = $159.00

Accrediting Provinces: BC, AB, SK, MB

Credit #: 2.0

Certification Type: General/Adjuster

Kelly, Director of Human Resources and Facility Management at Maxons Restoration in New York City recently had two staff members complete the online RIA Basic Water Loss course. Find out how both a newcomer to the industry and a long-time employee without much field experience benefited from the online training program.

Watch Video

Eight self-paced modules are 30-45 minutes in length and address:

  • Overview of Water Loss Restoration
  • Science and Fundamentals of Drying
  • Communications and Public Relations
  • Safety
  • Water Loss Equipment
  • Water Metering and Monitoring
  • Contents Restoration
  • Drying Procedures for Materials

Everything is based on knowledge, and understanding the project which ultimately affects the remediation of the water loss project. This online course is excellent training for new water loss field staff, administrative, HR, marketing staff and restoration professionals who want to enter the water loss niche market, teaching key concepts about Basic Water Loss such as communication, safety, equipment, tools and more.

For more information or to buy today, visit the ILScorp website.

CE credits, the insurance industry and YOU!

CE credits, the insurance industry and YOU!

As insurance professionals we use the word “CE” a lot… just a part of our everyday insurance jargon.

CE accredited, CE courses, CE credits, CE hours… but what does CE really mean to you, our fantastic ILScorp subscribers?

Well “CE” or continuing education, is what keeps you licensed and ultimately employed in the insurance industry, isn’t it?

Each province has mandatory CE licensing designation requirements, and in order to maintain your license you need to take courses that are provincially approved and accredited towards your license designation.

That’s where ILScorp comes in! Incorporating compliance and knowledge-based courses, ILScorp allows you to gain not only the continuing education credits required to maintain your insurance license, but also the practical education and knowledge that will set you and your business, apart from the competition!

So now you find yourself asking “How many continuing education hours do I need?”

Let’s have a look shall we!

CE Credits, Insurance Industry Requirments

BUY A GENERAL SUBSCRIPTION HERE

BUY AN ADJUSTER SUBSCRIPTION HERE

BUY A LIFE & A&S SUBSCRIPTION HERE

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