In Brief: Younger Drivers Less Satisfied with Insurance Companies

Posted & filed under Insurance and Social Justice, Insurance Briefs.

A recent study from J.D Power and Associates which looked at auto claims satisfaction reports that younger drivers are less satisfied with their insurance.

Specifically, the members of Generation Y (people born between 1977 and 1994), as compared to baby boomers:

  • Were more likely to have unanswered questions after they called to report a loss
  • Said they experienced more inconvenience during the claims process
  • Spent more time reporting their claims

Jeremy Bowler, senior director of the insurance practice with J.D. Power and Associates in Troy, MI, offers two possible reasons for this dissatisfaction.

He said, “They may have a different set of expectations. They’re focused on now, and quick turnarounds. Relative to their expectations, they may be less pleased with the same service that gets higher ratings from boomers.”

Bowler said the other factor might be a sort of age discrimination. Because they’re younger and less experienced, members of Generation Y may not be receiving the same level of service as older policyholders.