Property and motor insurers disliked by customers: Survey
Brisbane consulting firm Engaged Marketing today released findings from its 2010 benchmarking survey, exploring customer experience outcomes for the insurance industry. This survey looked specifically at the motor and property insurance categories.
The firm invited 1,589 motor insurance policy owners and 1,489 property insurance policy owners to rate their experiences and insurance companies were ranked using the ‘net promoter score’, which measures the likelihood to recommend (the higher into the positive scale, the more likely to recommend).
[caption id="attachment_4136" align="alignleft" width="300" caption="Motor vehicle insurance: Customers' brand rankings"]
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With a net promoter score of 8 per cent, APIA motor insurance customers are far more likely to recommend them to friends and colleagues, and significantly outperformed rivals such as NRMA, Allianz and CGU in the customer experience stakes. APIA also won in the property insurance category with a net promoter score of 5 per cent and again showing their major rivals how to ensure their customers are advocates.
Engaged Marketing Founder and CEO Chris Roberts said the research also demonstrates the massive impact negative comments can have on an organisation.
“Our research shows that for every one negative comment made about a particular motor or property insurance company, it takes around five positive referrals to negate that damage,” Roberts said.
Nine of the biggest motor vehicle and property insurers in Australia were assessed in the survey: APIA, RACV, RACQ, AAMI, Allianz, Suncorp, NRMA, CGU and GIO.
“Based on the scores achieved, it seems certain that many Australian insurance companies have huge potential to grow simply by focusing on improving their customer experiences and value propositions. In the highly competitive insurance industry, achieving a positive customer experience, first time, is more important than ever,” said Roberts.
[caption id="attachment_4137" align="alignleft" width="300" caption="Property insurance: Customers' brand rankings"]
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By Bernard Kellerman
bkellerman@financialpublications.com.au
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- Insurance
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- admin, online@financialpublications.com.au
- Article Posted:
- August 09, 2010
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