Keynova Group Releases Semi-Annual Mobile Insurance Scorecard Results
WILMINGTON, Del., April 16, 2024 /PRNewswire-PRWeb/ -- Keynova Group, the principal competitive intelligence source for digital financial services firms, today announced the results of the Q1 2024 edition of its semi-annual Mobile Insurance Scorecard. GEICO won first overall for its mobile user experience in Keynova Group's competitive evaluation of the mobile apps and mobile websites of the top 12 U.S. auto and property insurance carriers. In addition, State Farm placed first for its mobile app, and Progressive secured the lead for its mobile web experience.
The latest Scorecard findings show that carriers are enhancing their mobile modes by advancing claims capabilities with accident detection, feature-rich roadside assistance, and improved claims tools such as GPS mapping. Carriers are also improving the usability of their mobile channels by enabling pre-login app access to key services such as quoting or customer support and by offering quick login to policy services via mobile web.
"Insurance carriers' efficient and effective claims handling continues to be a central component of policyholder satisfaction and retention," said Beth Robertson, managing director of Keynova Group. "Mobile devices are ideal for supporting a superior, in-the-moment claims experience encompassing useful digital tools that can generate rapid and accurate event resolution."
Key Findings:
Mobile Accident Detection and Real-Time Claims Support Improves
More than 80% of Scorecard carriers have enhanced their mobile claims and/or roadside assistance services in the past six months, helping policyholders gain mobile access to full-featured capabilities as needed. With recent updates from Progressive and Travelers, 50% of carriers now offer accident-detecting telematics tools that use driver and vehicle data to determine when an accident may have occurred. These mobile solutions can summon roadside or medical assistance if required, and nearly 70% of the accident-detecting telematics tools can launch and prefill a first notice of loss. By supplying information such as location, date, time speed, driver, and driving behavior data, these solutions reduce claims filing and investigation time. In addition, two-thirds of carriers offer mobile damage inspections for vehicles and close to 60% support mobile options for property damage inspections, accelerating claims by enabling policyholders to take and submit photos for carrier review. Other upgrades recently introduced by multiple carriers include the ability to use a claims tool to review key areas of related coverage, reserve a rental car, and/or view live mapping of the arrival of roadside assistance.
Carriers Add Quick Action Options for Policyholders
Leading insurance carriers are also enhancing the value of their mobile channels with well-designed digital interfaces that facilitate expedited access to critical policyholder information and actions. More than 90% of carriers have improved their app login screens to help policyholders gain direct, pre-login access to customer service (75%), quoting (58%), roadside assistance (58%), claims initiation (42%) or ID cards (42%). In the mobile web mode, Scorecard carriers are offering policyholders quick login using alternative credentials when passwords may not be handy, making it easier to efficiently pay a premium (100%) or access an ID card (83%). Digital wallets are another convenience, and 75% of carriers provide links on the ID card screen that enable policyholders to quickly store their ID in a mobile wallet.
About the Mobile Insurance Scorecard
Keynova Group's semi-annual, fact-based Mobile Insurance Scorecard evaluates user-facing capabilities, customer experience elements, and best practices to identify evolving trends and insights that drive mobile strategy in the auto and property insurance industry. The evaluation encompasses the mobile channels of Allstate, American Family, Erie, Farmers, GEICO, Liberty Mutual, Nationwide, Progressive, State Farm, The Hartford, Travelers, and USAA. For more information, please visit https://www.keynovagroup.com/scorecards/#insurance.
About Keynova Group
Keynova Group is the nation's foremost competitive intelligence firm providing trusted benchmarking insights and analysis of consumer and small business digital financial services, including banking, credit card, home lending and insurance. Since 1999, Keynova Group's Scorecards have served as the go-to source for leading financial services firms to obtain reliable competitive intelligence and actionable insights. The firm's proven methodology and highly detailed results help its clients maximize the value of their digital channels to deliver a premier experience to customers and prospects.
Media Contact
Meggan Manson, Keynova Group, 301-371-6995, [email protected]
SOURCE Keynova Group
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