Insurance Company Apps Fastest Way to Process Claim, New Study Finds | Personal finance

Claims like this yielded the highest satisfaction levels in the study, with consumers rating the experience at a whopping 915 in 1,000. In contrast, claimants who filed complaints in person and consulted at least three representatives during the process displayed the lowest levels of customer satisfaction.

Another October study explains why this satisfaction gap is so wide; It is much faster to file a claim using an app. In a survey of U.S. auto and home claims handling insurance companies, digital process specialist Lightico found that companies that process claims through an app reported having completed more than two-thirds of them (70% ) in less than a week – and a quarter of them. in just 3 days.

In contrast, 60% of claims submitted to insurance company websites are processed within a week, according to these insurers, and less than half of claims (46%) filed by phone call are processed so quickly. (Claims submitted face-to-face were the slowest, with 80% taking one to two weeks to resolve, and the rest taking even longer.)

What you can do through the app differs depending on the insurer

You can initiate a claim directly from most apps, including uploading photos or videos of the damage you filmed to the phone’s camera. You can then use the tool to stay in touch with the company’s claims adjusters, and sometimes even with other stakeholders, such as the garage doing the repairs. You can also often have the claim paid through the app, with settlement going to your bank account. (Paying your bonuses through the app is also a pretty standard feature.)

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Justin D. O'Neill

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