Progressive scores first overall in digital experience, insurers work on video demos: Keynova

Insurers are improving digital self-servicing options for policyholders using interactive video demos that show users how to use a website for different tasks and learn about new products.

Keynova Group, a financial services intelligence firm specializing in benchmark insights, released its Q4 2021 semi-annual Insurance Scorecard, which ranks the 12 largest U.S. auto and property insurance carriers based on more than 300 objective factors such as supporting online quoting and binding, providing educational content and meeting policyholder needs for filing and tracking claims.

Progressive scored first overall for its digital user experience. The insurer is the only carrier that links users to download its app from a quote.

GEICO scored second overall and State Farm ranked third overall.

Beth Robertson, Keynova Group managing director, said in a statement that the pandemic has increased the use of digital channels and insurance carriers are focused on making it easier to quote and navigate a new and existing policy online.

“I was pleased to see that insurers are addressing numerous aspects of usability to help improve the experience for both prospects and policyholders,” Robertson told Digital Insurance via email. “Consistency in the user experience is increasingly important as consumers become more digitally engaged, and inconsistencies across digital platforms can confuse policyholders and deter engagement.”

Geico and Nationwide are among the best specifically for their video demo offerings, according to the report. Nationwide, for example, offers a set of videos featuring detailed explanations about how policyholders can use its website to make a policy change or file and track a claim online. The videos also show how to make a payment from the website or get a copy of an insurance ID card.

GEICO has video demos and educational content to help consumers understand the benefits of its usage-based telematics technology. Recently, GEICO fully integrated its telematics solution into its mobile app as reported in the Q3 2021 Mobile Insurance Scorecard.

“With carriers offering more educational demos and resource content, customers can more confidently, and more broadly, engage in digital servicing,” Robertson said. “Also with carriers working to streamline digital processes this helps policyholders quickly and easily accomplish tasks online or using their mobile devices.”

Additional findings to note include:

Seven carriers use autocomplete to facilitate address entry in a homeowner’s or renter’s quote, while only five have included an autocomplete address capability in auto quotes.Only two carriers, Esurance and Progressive include dynamic lookup for policy change purposes and seven offer dynamic lookup in their quote forms.Nationwide and The Hartford are the only two carriers that display estimated phone support wait times on their websites.