New P&C insurance digital benchmarking report identifies State Farm, GEICO, USAA among top insurance carriers

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- A new benchmarking report from Corporate Insight identifies State Farm, GEICO and USAA as top performers in digital experience, while finding that the insurance industry still has meaningful room for digital improvement. The 2023 P&C Insurance Experience Benchmark evaluates 20 leading insurance carriers across 160 attributes and provides a crystalized view of how they stack up against one another in terms of design, functionality and usability. The report finds that traditional insurance carriers still outpace flashy insurtechs when it comes to digital capabilities, but none of the insurers scored within the benchmark's top tier.

"Across the industry, all the pieces are there for a best-in-class experience," says Justin Suter, Insurance Research Manager at Corporate Insight. "Yet no carrier has emerged with all the leading components and excellent customer journeys we look for unified into a cohesive digital experience for prospects and policyholders. That means any insurer could become a leader by implementing the best practices from across the industry spotlighted in this report." 

State Farm finished first on the strength of its comprehensive mobile app and stellar prospect experience. GEICO came in second due to its above-average experience in every evaluated category, and USAA performed well in terms of customer support and account information to come in third overall.

Other takeaways from the report include:

• Account information is the most pivotal component of a P&C insurance website, and most insurers provide policyholders with pertinent policy details, but few communicate this information in a visually appealing, digestible format
• The report found the widest range of scores in the Account Servicing category—which encompasses critical policy management activities such as payments, policy updates and claims—indicative of an industry that has not fully embraced empowering customers to self-service their policies digitally
• Strong scores in the report's Mobile App category reflect an increased industry focus on mobile experiences; insurers have been updating their mobile apps more frequently, as seen in CI's pace-of-change tracking

Categories analyzed in the P&C Insurance Experience Benchmark study include:

• Account Information
• Mobile
• Account Servicing
• Design & Navigation
• Profile & Settings
• Support
• Prospect Experience

Insurers featured in the P&C Insurance Experience Benchmark are:

• Allstate
• American Family
• Amica
• Automobile Club of Southern California
• Auto-Owners Insurance
• Branch
• Chubb
• COUNTRY Financial
• Erie Insurance
• Farmers
• GEICO
• Liberty Mutual
• Mercury Insurance
• Nationwide
• Progressive
• Root
• State Farm
• The Hartford
• Travelers
• USAA

About Corporate Insight

Corporate Insight (CI) delivers competitive intelligence, user experience research and consulting services to the nation's leading financial services, insurance and healthcare institutions. As the recognized industry leader in customer experience research for over 30 years, we have been the trusted partner to corporations seeking to improve their digital capabilities and user experience. Our best-in-class research platform and unique approach of analyzing the actual customer experience helps corporations advance their competitive position in the marketplace.

For media inquiries or to schedule an interview with an analyst, contact:
Patrick Flood
646-876-7535
[email protected] 

SOURCE Corporate Insight