| A hat trick for Chubb |
Chubb has kept the top spot in the Insurance Times Personal Lines Broker Service Survey for the third year running. Hiscox again takes second place and Oak Underwriting retains third, ahead of Sterling in fourth place.
Altogether 12 insurers improved their position in the high-level total score ranking, while nine experienced a decline.
Zurich was the highest riser, up seven places to 17th, joint with Allianz, up five. However, Congregational & General plummeted by eight places to the bottom slot and Towergate fell six places to 21st position. Other significant movers were AXA and Brit, both up five places, while Equity Red Star dropped by four.
Broker respondents were asked to focus entirely on personal lines this year. Results of the separate commercial lines survey, including the 2011 ranking, will be published in Insurance Times shortly.
Individual service dimensions
Brokers rated insurers’ performance across five different service dimensions, and the results in each category offer more insight into why the total score positions have changed since last year.
Zurich’s improvement is partly attributable to higher broker ratings for the two claims service dimensions, and for ease of access to decision-makers.
AXA generated improved ratings in all service dimensions, especially in ease of access to decision-makers, resulting in an eight-place rise in
the ranking. Brokers commented positively about changes made by AXA including its higher number of dedicated account handlers.
However, Congregational & General received significantly lower broker ratings across all service categories.
Within the rankings for individual service dimensions, there were significant changes as brokers moved up and down. Towergate dropped by six places for ease of access to decision-makers, while RSA rose by six places. For underwriting flexibility, Brit improved its position by seven places, and
Plum Underwriting was up six places, but Equity Red Star dropped back by seven.
There was dramatic movement
in the rankings for claims. Amlin dropped 11 places for claims – speed of settlement, whereas Sterling rose by five places; and for claims – fairness of settlement, Brit fell by six places and Towergate by five, while Allianz, Provident and Zurich all climbed by at least five.
Most improved
Brokers were asked to nominate the insurer they thought had made the greatest improvement to service during the past year. Aviva received the highest percentage of votes for this accolade for the second year running, and beat AXA to second place. However, many brokers were unable to nominate a most-improved insurer, with “no one” coming in third place.
Insurers interested in understanding their results in-depth should call Trafford Blenkinsopp on 020 7618 3084.
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