6 out of 10 customers would change their insurer to have a more digital experience

6 out of 10 clients would change their insurance company to have a more digital experience. The 73% would opt for an insurer that uses AI to process claims faster. These are the main conclusions of the international survey conducted by Solera among more than 1,500 consumers and 500 insurers.

The survey reveals how important it is for insurers, workshops, and distribution networks of original equipment manufacturers (OEMs) to adopt AI and incorporate it into their businesses. Something that will be essential for these companies in the short term, since, according to the Solera survey, more than 70% of consumers prefer automated management for a matter of trust.

In addition, most have previous experience in the use of technology in car claims and repairs, as 56% have already sent a part online and 51% have used digital technology to check the status of the file. All this as a result of the irruption of the ‘millennials’ in this sector, totally familiar with the new information technologies.

The pandemic makes technology crucial

Before the arrival of Covid-19, the use of cutting-edge technologies, especially those that avoided contact between people, was considered one more complement. Now, in many cases, it is crucial that companies provide customers with contactless interactions.

If we consider the pandemic as the driver of digital transformation, the main catalysts for vehicle insurers have been growth strategies (36%), employee safety and teleworking (34%), and the demand for digital experiences by part of customers (33%).

“This survey highlights something that Solera has known for a long time: automated processes have the potential to increase customer satisfaction and even promote customer loyalty,” explains Evan Davies, Solera’s chief technology officer.