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The satisfaction with the insurers ‘ home increased, according to J. D. Power

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July 5, 2018 09:45

Despite a rise in premiums, the satisfaction of consumers towards their home insurance company is up for a third consecutive year, estimates a study by J. D. Power. The average level of satisfaction stands at a total of 786 on a maximum score of 1,000.

This continuous growth is due to improvements in the performance of the different channels, ” explains the firm. “The high levels of satisfaction are conducted by the collective concentration of the industry to improve the ways in which consumers interact with their brand, particularly in the local agents and online. “

In Quebec, The Personal reaches the top of the list for the level of satisfaction (823), followed by The Capital city (818) and Intact Insurance (816).

Mitigate the negative effects of disasters

“The insurers understand the importance of the role played by the channels in the shaping of the clients’ satisfaction, points out Tom Super, director of the insurance practice at J. D. Power. In a market that has experienced increases in premiums and several major events related to disasters, an effective strategy for their channels can help to mitigate the negative effects of these events if they have been well managed. “

The forest fire Fort McMurray, occurring in 2016 and 2017, and which have generated 60 000 insurance claims totalling $ 3.8 billion of losses, are examples. Although it is below the national average, the customer satisfaction has continued to increase, despite the fact that more than 900 claims have still not been resolved, ” says J. D. Power.

The level of premiums is not in question

The results of the survey from J. D. Power show that consumers who pay higher premiums to the average for their region, but who do not receive an increase in premiums from their insurer are more satisfied than those who pay premiums below the regional average and who receive an increase in premiums from their insurer (753 vs. 672).

“The result of this finding is that the negative perception of receiving a premium increase affect levels of satisfaction more than the actual price that owners pay,” says the study.

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