New KUBRA Research Finds Customer Experience Is Top Factor When Choosing an Insurance Provider

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KUBRA’s Insured Billing and Payment Report 2022 identifies the challenges facing insureds when interacting with their insurance providers.

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A meager 18% of insureds rated their online experience with insurance agencies as “Excellent,” showing many opportunities for improvement.

KUBRA, a leading provider of customer experience management solutions for some of the largest government, utility, and insurance entities, recently released a research report focused on insured billing and payment trends to help insurers determine which investments will have the most impact on customer satisfaction.

Key findings of KUBRA’s Insured Billing and Payment Report 2022 include:

  • 46% of respondents stated that Customer Experience is a top factor when selecting an insurance provider.
  • The four key challenges insureds face when interacting with insurers are little or no communication (42%), securing their data (18%), slow payment processing (17%), and lack of digital capabilities (14%).
  • Insureds payment habits and preferences show that an omni-channel experience is necessary. 81% say it’s important that an insurer has online or mobile payment options. 73% of insureds and members prefer receiving statements digitally, while 27% still prefer mail.
  • 34% of insureds prefer to manage insurance policy claims and payments via a mobile app.

“Our research shows that since the pandemic, demand for more modernized solutions has increased for insureds and members. Our goal in gathering and sharing this data is to help insurers understand what their customers want so they can maximize customer satisfaction and gain a competitive advantage,” said Shaun Jackson, Senior Vice President of Marketing at KUBRA.

Digital Options Improve Customer Experience
A meager 18% of insureds rated their online experience with insurance agencies as “Excellent,” showing many opportunities for improvement. 53% of members and insureds specified that offering better digital options is a way to boost the customer experience, 48% said it helped them make payments on time, and 25% felt it shows that their insurer is innovative.

Survey Criteria
The survey received 1,134 responses from U.S. adults 18 years or older who are the primary decision-makers in the household for insurance. Those surveyed had at least one of the following insurance policies: personal auto, commercial auto, health, homeowners, renters, life, or business owners.
About KUBRA

KUBRA provides customer experience management solutions to some of the largest utility and government entities across North America. Our portfolio includes billing and payments, mapping, mobile apps, proactive communications, and artificial intelligence solutions for customers. With more than 1.5 billion customer interactions annually, KUBRA services reach over 40% of households in the U.S. and Canada. KUBRA is an operating subsidiary of the Hearst Corporation. Visit https://www.kubra.com for more information.

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Alison Copeland
KUBRA
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