J.G. Wentworth Structured Settlement Survey

"Listen to the customer - a novel idea wouldn’t you say?" That was advice from Randy Snow for the structured settlement industry in Randy's August 2008 Interview with S2KM about industry transition and growth.

Only recently has the structured settlement industry begun to "listen to the customer" - the structured settlement recipient - in an organized, professional manner focused on industry improvement and growth.

S2KM previously reported two structured settlement surveys announced at meetings of the National Structured Settlement Trade Association (NSSTA):

• NSSTA 2006 Survey - as summarized by Joseph Costello at the NSSTA 2007 Winter Meeting; and
• AIG 2007 Survey - as summarized by J.P. Steele at the NSSTA 2008 Annual Meeting.

Both of these surveys focus on injury victims, their attorneys and structured settlements.

S2KM has also summarized:

• Market analysis by Towers Perrin titled "2007 Update on U.S. Tort Cost Trends" as part of S2KM's series titled "Growing the Structured Settlement Market; and
• Leadership conference organized by J.G. Wentworth titled "Structured Settlement Thought Leadership Conference"

J.G. Wentworth recently conducted a survey of structured settlement recipients who had previously sold some or all of their structured settlement payment rights to J.G. Wentworth. 115 persons participated.

J. G. Wentworth published a press release announcing survey results on October 29, 2008 and distributed a media report on November 5, 2008. According to Ken Murray, J.G. Wentworth's Chief Marketing Officer, the survey resulted from recommendations made at the 2008 Structured Settlement Thought Leadership Conference which J.G. Wentworth helped to organize.

S2KM received copies of both the press release and the media report. S2KM also requested and received permission from J.G. Wentworth to review, and write about publicly, some of the structured settlement survey questions and responses.

In subsequent blog posts, S2KM will:

• Report J.G. Wentworth survey questions and responses; and
• Discuss what the responses mean for the future of structured settlements.