New research from the ABI (Association of British Insurers) shows that 87% of loan payment protection claimants are satisfied with the way that their claim was handled and the level of service they received.
This research is the first of a claims benchmarking study and is designed to assess levels of compliance with the ABI Claims Code. Just over 1100 people who have made a recent claim were surveyed by B&MR (Business & Market Research), as part of a study that covered personal loan and mortgage payment protection customers of 8 leading companies, representing 76% of the UK market*.
Other findings showed that:
· 87% of loan payment protection customers surveyed and 86% of mortgage payment protection customers with valid claims said that they were satisfied with the way their claim was handled.
· In both product areas 89% said that they felt that their claim had been treated fairly and 78% said that they were happy with the level of information they received during their claim.
· For all those with a valid claim, the four most important areas for satisfaction were the speed of the decision, information regarding the progress of their claims, the speed of the arrival of the claim form and the ease with which they can find out who to contact.
The survey also showed that there are areas for improvement. The main reasons for dissatisfaction this were that customers had to chase the companies and there was a lack of communication as well as a lack of clear information about who to contact.
