The company announced the results of its 2017 Customer Satisfaction Awards for banking and finance, recognising the financial institutions with the highest level of satisfaction among clients.
The award for Risk and Life Insurer came down to three businesses, Roy Morgan said in a statement.
“This is a heavily contested category with three companies taking their turn in top spot during 2017; Allianz, Insuranceline and Real Insurance all vying for the top position,” the company said.
“Each had a moment in the spotlight in 2017, but Real Insurance out-performed its rivals to earn its award.”
The award for General Insurer was given to RACT, which was also named the business with the highest monthly customer satisfaction for the past 12 consecutive months.
One satisfied customer = award
Interestingly, these results don’t identify whether the customers were satisfied after applying to have a claim processed or assessed.
Many customers of direct insurance will initially feel satisfied because they believe they have made the right decision, implemented the right product and feel good they have taken some form of insurance cover. It’s a no brainer.
Many would also have made a knee jerk reaction based on an advertisment and may not have assessed many alternatives.
The real test would be to assess satisfaction in an insurer once the customer has been through the claim process and whether the outcome was acceptable.
What initially appears as fairly satisfied or very satisfied, may well change.
I also note that Roy Morgan’s process only requires a minimum number of 100 respondents in each category to qualify as part of the assessment .
Not exactly ground breaking data ,but one which will no doubt be very repetitively used by the category winners.
This would be funny if it wasn’t so worrisome.