Even a Fair Claim Will Send Customers Packing

The insurance claims process is so painful and outdated that about half of customers who confront it bolt no matter what.The financial services industry has been among the slowest to embrace the mobile and other technologies that many consumers crave. Within the industry, insurers probably have been slowest—and their old-fashioned ways are stirring a high level of churn. Insurance customers are generally pleased with their provider. Only 14% of those who submitted a claim in the past two years are unhappy with how it was handled, according to a report from Accenture.