Happy Wednesday! In this week's Big I Buzz we are discussing the future of work and recent findings from J.D. Power 2023 US Auto Claims Satisfaction Study. 

Working it Out: Is Hybrid the Future of Work? 

In response to the pandemic, the traditional five-day office workweek is fading as a majority of employees prefer a hybrid model, working from home two or three days a week for better work-life balance and personal autonomy. Even major companies like Zoom are adopting this approach, leading to cost savings and increased morale. However, the shift has repercussions in downtown areas and related businesses. The CNBC article concludes that the five-day office workweek is becoming a thing of the past, and hybrid work is the new normal, offering greater choice and flexibility to employees. Read the full article here: https://www.cbsnews.com/news/working-it-out-is-hybrid-the-future-of-work/

Despite Delays in Auto Repair Cycle, Customer Satisfaction Improves

Auto insurance repair cycle times have reached an average of 23.1 days in 2023, a significant increase from 2022 and double the repair time in 2021 due to repair-shop backlogs and parts shortages. Surprisingly, this delay has not negatively impacted customer satisfaction, as insurers have effectively managed customer expectations and improved digital communications, according to the J.D. Power 2023 U.S. Auto Claims Satisfaction Study. Customer satisfaction with the auto insurance claims process has actually increased this year, driven by empathy and responsiveness at the beginning of the process and effective communication. Despite the longer repair times, overall satisfaction improved, except for rental experience, which declined. Amica Mutual ranks highest in customer satisfaction for the second year, demonstrating the importance of showing concern and keeping customers informed. Repair delays are attributed to supply chain and labor shortages, as well as an aging vehicle fleet. While relief is beginning to appear, insurers can further enhance customer satisfaction through improved communication, digital solutions, and empathy.  Read more here. 

Don't forget if you haven't already updated your information to head back to this week's Big I Buzz email so you can receive our monthly email curated for you and your role. For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click  here  to add your email to our emailing list.