Chicago, IL (Oct. 8, 2024) \u2013 CCC Intelligent Solutions Inc., a leading cloud platform powering the P&C insurance economy, has released the findings from its Moments of Truth <\/i>study, identifying the key drivers of customer satisfaction and retention in the auto claims and repair process. The study defines \u201cmoments of truth\u201d as critical points in the customer journey that have a significant impact on satisfaction and loyalty. The study reveals that consumer satisfaction with insurers and repairers in a claims experience is closely linked, and that their collaboration plays a pivotal role in each other\u2019s satisfaction scores. The findings also indicate that satisfaction with the claims process may not impact insurer loyalty.<\/p>\n
The study, based on data from 2,400 policyholders who participated in the research, examines nearly 50 moments in the auto claims and repair process. Findings, which were derived using data science methodologies to uncover correlations and patterns in responses rather than reporting direct responses, show that repairers help insurers score satisfaction points by offering high-quality repairs and minimizing the time to schedule and complete repairs, and conversely, insurers bolster repair satisfaction scores with clear communication about the claims process and a satisfying first contact with the consumer. These insights suggest that many consumers view their interactions with insurers and repairers as a single cohesive experience and do not differentiate between their experiences with insurers and repairers.<\/p>\n
\u201cAt CCC, we\u2019re on a mission to shape a world where life just works, which means helping our customers turn crucial moments into intelligent experiences,\u201d said Maryling Yu, vice president of marketing at CCC. \u201cAn intelligent experience certainly includes a positive customer experience, and our Moments of Truth research sheds light on the moments that determine customer satisfaction and retention. Our findings suggest that while speed has long been prioritized, transparency and clear communication about the claims process and repair needs play an even more significant role in consumer satisfaction. The study found that even when a consumer has indicated high satisfaction with their insurer, it may not tell the insurer much about whether they will ultimately switch. We hope these insights will help the industry in navigating today\u2019s challenges and delivering better outcomes.\u201d<\/p>\n
Satisfaction with Insurers and Repairers Is Interconnected:<\/p>\n
When It Comes to Insurers:<\/p>\n
When It Comes to Repairers:<\/p>\n
The Moments of Truth study is part of CCC\u2019s ongoing commitment to advancing industry knowledge and delivering innovative solutions that help its customers turn data into confident action and to create intelligent experiences that just work.<\/p>\n
CCC engaged Magid Research, a prominent market research firm known for its expertise in consumer behavior, to gather the data used in the study which included insight from 2,400 policyholders who had filed as first-party claimants and completed a repair process within the past two years. The study was conducted between August and December of 2023.<\/p>\n
Download the full report at cccis.com\/reports\/moments-of-truth<\/a>.<\/p>\n CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS)<\/em>, is a leading SaaS platform for the multi-trillion-dollar P&C insurance economy powering operations for insurers, repairers, automakers, part suppliers, lenders, and more. CCC cloud technology connects more than 30,000 businesses digitizing mission-critical workflows, commerce, and customer experiences. A trusted leader in AI, IoT, customer experience, network and workflow management, CCC delivers innovations that keep people\u2019s lives moving forward when it matters most. Learn more about CCC at cccis.com<\/a>.<\/p>\n This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201congoing\u201d or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding future use and performance of CCC\u2019s digital and AI solutions. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, competition, including technological advances and new products marketed by competitors; changes to applicable laws and regulations and other risks and uncertainties, including those included under the header \u201cRisk Factors\u201d in the definitive proxy statement\/prospectus filed by Dragoneer Growth Opportunities Corp. with the Securities and Exchange Commission (\u201cSEC\u201d) on July 6, 2021, which can be obtained, without charge, at the SEC\u2019s website (www.sec.gov). The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.<\/p>\n SOURCE: CCC Intelligent Solutions Inc.<\/em><\/p>\n Tags: Auto Claims<\/a>, CCC<\/a>, satisfaction<\/a>, survey<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" CCC Intelligent Solutions Study Identifies Key Drivers of Customer Satisfaction and Retention in the Auto Claims and Repair Process Moments of Truth Research Shows Strong Link Between Insurer and Repairer Customer Satisfaction and Reveals...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22644"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22644"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22644\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About CCC<\/b><\/h4>\n
Forward-Looking Statements<\/b><\/h4>\n