The Chartered Insurance Institute (CII) has published the findings from its latest Public Trust Index, showing record-breaking customer satisfaction level for a particular type of insurance.
Here’s how motor, travel, and building/contents insurance fared in terms of customer satisfaction, according to data released by the CII today:
|
Policy type |
July 2023 |
Dec 2022 |
July 2022 |
Dec 2021 |
July 2021 |
Oct 2019 |
|---|---|---|---|---|---|---|
|
Motor, satisfied |
85% |
87% |
86% |
86% |
85% |
84% |
|
Motor, not satisfied |
4% |
4% |
5% |
5% |
5% |
4% |
|
Travel, satisfied |
87% |
86% |
86% |
82% |
76% |
83% |
|
Travel, not satisfied |
5% |
4% |
4% |
8% |
8% |
3% |
|
Building/contents, satisfied |
81% |
81% |
85% |
85% |
81% |
86% |
|
Building/contents, not satisfied |
5% |
6% |
5% |
4% |
7% |
4% |
Based on the CII Public Trust Index – which also breaks down poll responses by age, gender, and ethnicity – the overall consumer satisfaction when it comes to travel insurance policies has reached the highest level since the professional membership body started compiling data in 2018.
“The latest outturns show that 87% of consumers who had recently bought a travel insurance policy were satisfied with their purchase, compared to just 76% in July 2021, when the sector was facing challenges following the COVID-19 pandemic,” noted the CII, which surveys around 1,000 consumers and 1,000 SMEs.
“Only 5% of consumers said they were not satisfied with their purchase in these latest data, compared to 8% in July 2021, with the remainder neither satisfied nor dissatisfied.”
For chief executive Alan Vallance, the CII Public Trust Index is an important barometer.
“While it’s pleasing to see an improving picture for some groups of consumers, and for some policies, much like our UK summer it’s by no means a sunny outlook across the insurance market,” he said in an emailed statement. “The CII encourages our members and other sector participants to act on these latest findings, to maintain and build public trust in the insurance profession.”
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