Overall customer satisfaction with large commercial insurers has increased somewhat in 2018 compared with 2017, but a significant proportion of commercial insurance buyers remain “indifferent” to their insurers, according to the J.D. Power 2018 Large Commercial Insurance Study released Thursday.
The survey also found that satisfaction with large commercial insurers continues to lag behind that of other industries.
“As the industry contends with heavy catastrophic losses and strained profitability, keeping high-value large commercial customers is more critical than ever,” said David Pieffer, Rehoboth Beach, Delaware-based property/casualty insurance practice lead at Costa Mesa, California-based J.D. Power, in a statement accompanying release of the survey. “The key is to deliver services and customer experiences that increase overall satisfaction. Currently, 30% of large commercial insurance customers rate their relationship with their provider as ‘indifferent,’ and 45% say they are ‘pleased’ with their relationship. The group that is ‘pleased’ is 139% more likely to renew…
