Motoring mutuals dominate customer satisfaction survey
Personal lines insurance brands run by mutual motoring bodies have come out on top in a Roy Morgan general insurance customer satisfaction survey.
SA-based RAA led with a top score of 94% as of December, a three-point improvement from the corresponding month in 2019. RACT Insurance of Tasmania placed second, on 92% (down one point), followed by Perth-based RAC Insurance, on 92% (up five points).
Suncorp-owned entities Shannons and Bingle occupied fourth and fifth spots with scores of 91% and 88% respectively.
Overall about 82% of respondents are satisfied with their general insurer, up three points from the same time a year ago at 79% in December 2019.
“SA-based RAA had the highest satisfaction for general insurance customers in December 2020 at a market-leading 94%,” Roy Morgan CEO Michele Levine said.
“The impressive result for RAA of increasing customer satisfaction amidst the COVID-19 pandemic was experienced across the industry with 82% of Australians satisfied with their general insurer in the year to December 2020, an increase of 3% points on 2019.”
Roy Morgan says the largest improvement among the leaders for general insurance satisfaction was achieved by Suncorp’s Bingle. Bingle’s 88% rating represented an eight-point rise from December 2019.
Larger general insurance brands that cater to a more diverse range of customers have also had a good year. The big improvers include CommInsure (up eight points from a year ago), Budget Direct (also up eight points) and Allianz (up five points).
Queensland’s RACQ achieved a five point rise in satisfaction rating and NSW-based NRMA saw an improvement of three points.
The December results are based on interviews conducted with more than 50,000 consumers per annum including more than 35,000 with general insurance policies.