New lists of the most trusted home and motor insurers have been released – showing that in the business of providing coverage there’s a premium to be had in building trusting relationships with clients.
Based on customer research involving nearly 50,000 home and motor insurance policyholders, Consumer Intelligence named the following (listed in alphabetical order) as the top 10 providers when it comes to trust:
- Co-Op Insurance
- John Lewis Insurance
- Lloyds Bank
- M&S Bank
- NFU Mutual
Explaining its methodology, Consumer Intelligence said it asked respondents to rank companies on a scale of one to five on whether they trust the insurance provider. According to the data analytics firm, the home listing welcomed new entrant Santander while motor saw the entry of Aviva, Lloyds Bank, and More Than.
As shown by the top 10s, five providers – Co-Op Insurance, Lloyds Bank, M&S Bank, NFU Mutual, and Saga – made it to both lists.
“There is a strong correlation between customer trust and customer loyalty, making this a key element to standing out in an industry where customer perceptions are traditionally low,” commented Consumer Intelligence chief executive Ian Hughes, who congratulated the insurance brands.
“Brands that focus on building trusting long-term relationships with their customers thrive and grow. Customers simply do not want to do business with a brand they cannot trust.”