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Homeowners Give High Satisfaction Scores to Their Insurers

"About one of every 15 U.S. homeowners insurance policyholders files a claim each year, and these claimants are now giving insurers their highest ever satisfaction ratings," according to the March 14, 2017, article, "U.S. Homeowners Give Record High Satisfaction Scores to Their Insurers," by the Insurance Information Institute (I.I.I.).

"The J.D. Power 2017 U.S. Property Claims Satisfaction Study gives U.S. home insurers a record score of 859 (on a 1,000-point scale). The industry's cumulative score stood at 846 in 2016. Five factors are considered when assessing policyholder satisfaction: settlement; first notice of loss; estimation process; service interaction; and repair process.

"'Insurers are the nation's economic first responders and, as such, are continually working to improve how they help Americans recover their lives and businesses in the wake of tragedy and catastrophe,' said Sean Kevelighan, president and chief executive officer (CEO) of the Insurance Information Institute (I.I.I.). 'This year's J.D. Power and Associates survey results are a clear reflection that the industry's hard work and dedication are delivering the intended results.'

"These all-time high claims satisfaction scores are even more remarkable given that incurred losses and loss-adjustment expenses for U.S. property/casualty (P/C) insurers grew by 7.6 percent year-over-year when comparing the first nine months of 2016 to the first nine months of 2015, according to an analysis developed by Dr. Steven Weisbart, the I.I.I.'s chief economist."