Survey finds broker customers are the most satisfied
RSA has topped a motor insurance customer satisfaction survey conducted by marketing information company J.D. Power.
LV= came second in the 2010 UK Auto Insurance customer satisfaction study, followed by Shelias' Wheels, Diamond and Swiftcover.
The study also found that policyholders who interact with their insurance provider through a local broker are much more satisfied than policyholders who use other contact methods such as call centres, websites, e-mail or automated phone systems.
Jeremy Bowler, senior difrector of the insurance practice at J.D. Power, said: "While some of the highest performing car insurance companies in the UK market successfully renew more than eight in 10 policyholders, others manage to retain barely one-third of theirs, which means they have to invest in advertising and lead commissions to replace two-thirds of their customers annually.
“Furthermore, 44% of customers overall switched insurers during the past 12 months, which represents nearly £3.5 billion in premiums that were up for bid. It’s clear that focusing on customer retention can bring insurers substantial benefit in reducing costs and boosting profitability.”
The 2010 UK Auto Insurance customer satisfaction study is based on responses from 5,036 auto insurance policyholders. The study was fielded in October 2010.
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