Customer satisfaction: The top ten insurers of 2022

It’s not enough to receive adequate service as the result of a claim, or have a sufficient, one-off interaction with someone in a call centre. A customer needs to know that your brand is there, ready and waiting, to deliver a premium overall experience, not just in their hour of need, but consistently throughout the duration of their policy. 

Customer satisfaction is, arguably, the most crucial marque of excellence across all five Awards categories. Satisfaction does not relate to just one area – it speaks to the product itself, the price, and the overall brand experience. Many other sectors have multiple occasions to provide excellent service, more opportunities to delight their customers, or even at a lower level, more chances to simply deliver what was promised. However, general insurance has far fewer interactions to deliver this service.   

At Consumer Intelligence, we use our Insurance Behaviour Tracker to gain real insight into how consumers feel about their insurance provider, and each year we survey over 48,000 home and motor insurance customers to uncover the top performing brands within the market. It’s through this data that we are able to see which brands are hitting the top 10 spot for highest customer satisfaction rates across the market. 

For 2022, these winning brands are: 

Lisa Franklin, Client Services and Insights Director at Consumer Intelligence, knows the true value of customer satisfaction. Her team is dedicated to ensuring the clients they work with receive the utmost value, and they strive to deliver complete customer satisfaction, day in, day out.  

“We know that strong customer satisfaction is good for business. Customer satisfaction is one of the things at the heart of customer retention; so, keeping your customers happy equals higher retention and more recurring revenue.” In a piece of research carried out last year, we found that across both home and motor insurance customers, a significant correlation could be identified between customer satisfaction and average length of tenure.  

Lisa continues, “We cannot shy away from price being a big factor in many customer evaluations of satisfaction. And with the media focusing on price following the implementation of the FCA’s General Insurance Pricing Practices regulation, the price of insurance is likely to stay at the forefront of customers’ minds. With inflation expected in the new business market, there is a chance for insurers to promote satisfaction from a price perspective at renewal. If renewing customers start seeing ever more equitable prices with those available at new business, this would likely improve satisfaction in the renewal process.” 

We know that most insurance customers view buying a policy as a reluctant purchase – the chances are they won’t need to make a claim, so they’re probably sat at the kitchen table entering those card details begrudgingly – but if customers are happy that they are investing in a valuable product that’s set at a reasonable rate, it might just soften the blow.  

“But remember, it’s not all about price! So, make renewing easy; digital options are even more important in a world that has lived through almost two years of a pandemic and are used to remote, self-driven service. Some will still want the reassurance of speaking to a customer service representative or need to clarify unique elements of their risk are covered. For this, ensuring contact centre service remains easy and reliable is key.   

“Customers are a unique source of information for businesses to learn from. Seek out data on what you are doing well and what your customers’ pain points are. Believe what they say and then dial up the good things, fix the frustrating things and in the long run, increased customer satisfaction will improve your bottom line.”   

If there’s one thing we know about customer satisfaction – it’s the long game. By putting your customers at the heart of your brand and consistently demonstrating your dedication, you will earn customer satisfaction, build loyalty, and ultimately, help drive improved renewal.  

We'd like to extend our congratulations to all of this year’s Award winners. It’s not easy – you can't just complete an entry form or write a submission. It requires dedication, consistency, and a successful customer strategy that performs 365 days a year. That is why it’s such a huge accolade to win one of our awards – and one to shout about if you’re lucky enough to be successful.  

If your brand has been successful this year, please get in touch and a member of our team will be happy to speak to you about how we can help you make the most of it.