Prime 10 manufacturers reigning one of the best in buyer satisfaction

To be happy is all about having your wants met, isn’t it? With the Shopper Intelligence awards we’re capable of decipher who the manufacturers that go above and past are. These manufacturers have communicated with their prospects and supplied the very best requirements of buyer care within the UK insurance coverage trade.

Within the ever-evolving panorama of the UK common insurance coverage market, it’s troublesome for insurers to remain on high. There’s all the time new expertise, evolving buyer wants, and obstacles that imply that solely one of the best insurers are a step forward. By creating new merchandise that higher swimsuit buyer wants and listening to buyer calls for, these insurers have been on the forefront of buyer satisfaction for the final yr.

Our Insurance coverage Behaviour Tracker collates real insights into shopper attitudes in direction of their insurance coverage suppliers. Yearly, we survey greater than 48,000 residence and motor insurance coverage prospects to determine the main manufacturers out there. It’s by way of this information that we discern which manufacturers occupy the highest 10 positions for the very best buyer satisfaction charges throughout the market. This yr we’re delighted to congratulate the next manufacturers on their achievement.

*Please notice: Winners are listed in alphabetical order   

Shopper Intelligence’s Perception Analyst, Kalle Myllarniemi, says, “Within the 2023 motor market, the common scores for buyer satisfaction went up barely, whereas in 2024 they dipped again down marginally, with the scores in 2024 staying barely greater than these seen in 2022. That is fairly shocking when contemplating how a lot motor premium costs have gone up since 2018.”

Whereas the UK common insurance coverage market has skilled waves of adjustments, from the introduction of Shopper Responsibility in July 2023 to the latest FCA demand on halting all gross sales of GAP insurance coverage, it’s secure to say truthful worth has taken a job in pushing insurers to drive shopper satisfaction charges.

“Maybe the FCA’s elevated give attention to insurers offering truthful worth for purchasers has paid dividends. ”

Moreover, when taking a look at residence insurance coverage there’s a comparable narrative, Kalle provides “Within the residence market the image has been largely comparable, with common satisfaction scores bettering barely since 2018, however principally staying constant year-on-year with some minor fluctuations. Essentially the most evident year-on-year change got here in 2024, when the common scores of the Prime 10 suppliers out there decreased from 8.4 to eight.2, while common scores additionally dipped barely.” While with motor insurance coverage we might have the FCA to thank for the strain placed on insurers to do extra to fulfill their prospects, Kalle speaks additional concerning the influence of local weather change on the house insurance coverage market and the way this could possibly be a figuring out consider how this has affected the fluctuating shopper satisfaction charges.

“These decreases could also be linked to the latest surge in residence insurance coverage costs stemming from extra excessive climate occasions just lately, and the elevated injury attributable to storms, resulting in greater numbers of claims and better prices of claims, which linked with the elevated variety of lower-cover merchandise, might have led to lowered common satisfaction ranges amongst customers.”

Taking these macro pressures into consideration, it’s clear that putting within the high 10 for buyer satisfaction isn’t any simple feat! Congratulations once more to those manufacturers which have gone above and past to fulfill their prospects.

Are you a 2024 winner? Enquire about your award at this time… 

Our analysis exhibits that buyers are over 5 instances extra inclined to pick an insurance coverage firm that has obtained an award based on real buyer suggestions, relatively than one awarded primarily based on the judgments of trade consultants. This distinction is what separates the Shopper Intelligence Awards from different trade awards

In case your model has been profitable this yr, please get in contact and a member of our group will likely be pleased to talk to you about how we may help you benefit from it.