Scores based mostly on responses from nearly 3,000 small industrial insurance coverage clients
J.D. Energy has launched its newest rating of small industrial insurers, with American Household rising on high to outdo the likes of State Farm and Allstate when it comes to general buyer satisfaction.
Primarily based on responses from 2,817 small industrial insurance coverage clients, under is J.D. Energy’s general buyer satisfaction index rating from its 2024 US small commercial insurance study. The insurers’ scores have been based mostly on a 1,000-point scale.
- American Household – 727
- State Farm – 719
- Allstate – 716
- Erie Insurance coverage – 706
- Chubb – 703
- Philadelphia Insurance – 702
- Nationwide – 701
- Research Common – 697
- Liberty Mutual – 696
- The Hanover – 692
- CNA Insurance coverage – 690
- The Hartford – 685
- Farmers – 683
- Travelers – 679
- AIG – 675
- Auto-Homeowners Insurance coverage – 665
Performed from February to June this yr, the research evaluated satisfaction throughout seven key dimensions: belief, worth for protection, product/protection choices, ease of doing enterprise, individuals, drawback decision, and digital channels.
J.D. Energy discovered that regardless of a difficult atmosphere with rising premiums – 36% of small enterprise house owners reported a rise up to now yr – buyer satisfaction, loyalty, and advocacy stay robust when belief is established with industrial insurance coverage suppliers.
“Belief is the one most essential variable within the buyer relationship with industrial insurance coverage suppliers,” famous Stephen Crewdson, senior director of worldwide insurance coverage intelligence at J.D. Energy.
“Throughout just about each enterprise metric that issues to insurers – buyer loyalty, advocacy, premium retention, share of pockets – small enterprise house owners who belief their insurers symbolize considerably increased worth. Whereas some insurers are doing an incredible job cultivating that belief, others have a whole lot of work to do.”
Buyer satisfaction with industrial insurers averaged 697 on a 1,000-point scale, with a 77-point distinction separating probably the most trusted insurer from the least trusted one. Insurers who scored highest in belief have been famous for his or her effectiveness in serving to clients perceive their coverage protection, addressing enterprise wants, and tailoring merchandise to satisfy particular necessities.
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