Friday, September 9, 2016

Geico Claims 97% Customer Satisfaction - My Take On The Statistics.

Yes Geico Insurance claims to have 97% satisfaction from their policy holders. In my opinion, that is not something to brag about. I will explain; Insurance, by nature, is supported by policy holders that pay their premiums and DO NOT file claims. And due to the low cost of premiums, compared to the high cost of claim payouts, many more people must NOT file a claim for the company to remain solvent. As a matter of fact, it probably has to be like like 3 claims to every 100 policy holders that don't file a claim. So now you can see that 97% at at any given time are not filing claims, so they have nothing to be unhappy about. However, there are 3 percent filing claims, the same amount that would be dissatisfied according to Geico statistics. Therefore everyone that is trying to collect on a claim is unhappy. Is it just me or is there a problem here?

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