White Papers & Reports

Increasing customer satisfaction and reducing costs in property and casualty insurance

Increasing customer satisfaction and reducing costs in property and casualty insurance

Discover how to apply IBM SPSS to predictive analytics that can make a difference in handling two key concerns for insurance companies: customer service and fraud. When a policyholder files a claim, the speed of response is one of the most important factors of customer satisfaction. In a recent survey cited in this report, 65 percent of customers said they considered changing insurers when it took more than 15 days to settle a claim. In contrast, only 8 percent considered changing insurers when it took between one and three days to settle a claim. Insurance companies can also leverage predictive analytics to detect and reduce fraud without negatively impacting the customer experience. Explore different use cases for managing risk, increasing profitability and improving effectiveness across your organization.