Consumer Intelligence confirms 2024’s winning insurers in home and motor markets

Market research firm Consumer Intelligence has revealed the winners of its annual Consumer Intelligence Awards, to recognise home and motor insurers’ customer service. 

The awards, now in their ninth year, cover five categories - these include customer trust, customer service, claims satisfaction, customer satisfaction and recommendation by customers. Consumer Intelligence highlighted 10 winners across each of these categories.

Firms operating in the motor insurance market that excelled across these categories include Axa, Admiral, Aviva, Saga, Tesco and LV=. 

Meanwhile, organisations working in the home insurance market that feature as award winners include The AA, Barclays, Ageas, Lloyds Bank and Direct Line.

Catherine Carey, head of marketing at Consumer Intelligence, explained that the chosen winners have shown that they meet the needs of customers.

She said: “That’s what the Consumer Intelligence Awards are expert in, setting the industry standards through the voices of real customers.

“We pride ourselves on recognising the companies that truly excel in satisfying their customers’ needs and expectations.”

Real feedback

The awards are based on insights from Consumer Intelligence’s Insurance Behaviour Tracker (IBT) - this collects data all year and surveys approximately 50,000 customers.

Carey explained that “with the introduction of the Consumer Duty” insurance companies have “more to prove than they did a year ago”.

The FCA’s Consumer Duty regulation was introduced on 31 July 2023. It requires insurance firms to review their products and services against a new standard of fairness, with companies measuring, analysing and benchmarking their performance across a number of different metrics.

Carey said: “The winners this year have shown they can listen to and meet their customers’ needs. This kind of expertise and consistency is exactly what consumers want and look for in an insurance provider.

“When it comes to choosing insurance, real customer feedback speaks volumes.

“Our research reveals that consumers are over five times more likely to select a brand which has won awards based on the opinions of real customers, rather than those awarded solely by industry bodies.”