DALBAR Identifies Firms that Seek to Ease the Burden of Filing a Life Insurance Claim
MARLBOROUGH, Mass.–(BUSINESS WIRE)–Empathy and ease, two critical components of self-service life insurance experiences, and a recent review conducted by DALBAR identified the firms that very intentionally seek to extend both to their claimants.
In addition to scoring highest overall for their online term life experience, Nationwide’s depth of support also edged out competitors by a significant margin. Ease of use is obviously top of mind, with an industry leading feature that enables claimants to locate their loved ones’ policies without the use of a policy or contract number.
“We want to make things easy for our customers to gain access to life insurance and easy for their loved ones when it’s time to make a claim,” said Holly Snyder, president of Nationwide’s Life Insurance business. “Being ranked number one by DALBAR for three years in a row shows our long-term commitment to delivering an extraordinary customer experience.”
Second overall and at the top for Usability, Lincoln Financial succinctly lays out what is needed to complete a claim, communicates by what method claimants will hear from the firm and provides next steps. Recognizing the sense of comfort felt in knowing what to expect and when, the firm goes above and beyond in providing time expectations for each step in the process.
Corebridge Financial, formerly known as AIG Life & Retirement, ranked third and scoring among the highest in Functionality, provides a coherent chart detailing the information and documents required to file a claim. The firm makes things crystal clear with their presentation of a term life claim from start to finish, providing ultimate transparency about each stage of the process.
Fourth ranked Thrivent reveals its level of empathy for claimants with the use of highly compassionate language that not only offers condolences, but states that they are there to make the process of filing a claim as seamless as possible. The organization reinforces these sentiments by offering supportive resources during the grieving process.
John Hancock, holding the 5th spot out of 24 firms, supports claimants during this difficult period by outlining the claim process, step-by-step, and enabling claimants to initiate and submit a paperless Express Claim if eligibility requirements are met. The firm uses page elements masterfully to indicate where claimants are in the process and every possible means of contacting the firm is provided.
An independent third-party expert, providing audits, evaluations, ratings, and due diligence consultation, DALBAR awards are the mark of excellence in the financial services community.