Does the "Eggs in One Basket" approach apply to my insurance policies?
Simply put: "No."
The More the MerrierStudy reveals homeowners more satisfied when subscribing to multiple polices. Homeowners insurance policyholders who bundle other policies with an insurer are more likely to be satisfied than those who only have a homeowners policy, according to the J.D. Power and Associates 2007 Homeowners Insurance StudySM.
The study polled more than 100,000 households to identify customers of the 24 largest national insurers. J.D Power found 70% of homeowners insurance policyholders have additional policies with their insurer and as the number of policies with the insurer increases, so does the customer satisfaction. Customers who hold only one policy with their insurer had an average satisfaction score of 640 on a 1,000-point scale, which is 175 points lower than customers who hold five or more products.
“Policyholders can enjoy many benefits through bundling multiple insurance products under a single provider, such as convenience in billing processes and multiple-policy discounts,” says Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates.
Taken from Big "I" P&C Trends
Simply put: "No."
The More the MerrierStudy reveals homeowners more satisfied when subscribing to multiple polices. Homeowners insurance policyholders who bundle other policies with an insurer are more likely to be satisfied than those who only have a homeowners policy, according to the J.D. Power and Associates 2007 Homeowners Insurance StudySM.
The study polled more than 100,000 households to identify customers of the 24 largest national insurers. J.D Power found 70% of homeowners insurance policyholders have additional policies with their insurer and as the number of policies with the insurer increases, so does the customer satisfaction. Customers who hold only one policy with their insurer had an average satisfaction score of 640 on a 1,000-point scale, which is 175 points lower than customers who hold five or more products.
“Policyholders can enjoy many benefits through bundling multiple insurance products under a single provider, such as convenience in billing processes and multiple-policy discounts,” says Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates.
Taken from Big "I" P&C Trends
