Slow insurance payouts may lead to consumers switching companies. A survey found that only about 15 percent of people receive their claim payment within a week. This delay can be frustrating for consumers, who already find filing a claim to be a stressful experience.

The survey also revealed that three out of four people would consider switching insurance companies due to slow payouts. Consumers value speed and reliability in claim payments.

Further details on consumer claims experiences and insurance company responses are available from the source, including related information on other consumer issues.