Wednesday, 26 September 2012

2012 Canadian Auto Insurance Statisfaction Study

This week the J.D. Power and Associates released its 2012 Canadian Auto Insurance Satisfaction StudySM.  The study, now in its fifth year, measures insurance customers' experiences with their primary insurer. Customer satisfaction is measured across five factors: interaction; price; policy offerings; billing and payment; and claims. Insurers are ranked in three regions: Western (British Columbia; Alberta; Saskatchewan; and Manitoba); Ontario/Atlantic; and Quebec.

Customer satisfaction in the Ontario/Atlantic region has increased by 11 points from 2011, primarily due to an increase in satisfaction with insurer policy offerings (+17 points). Policy offering satisfaction is most often influenced by the quality of discounts offered. In fact, 60 per cent of customers in this region received multiple (three or more) discounts on their policy, a six-percentage-point increase from 2011. Nearly 30 per cent (29%) of customers reported an insurer-initiated rate increase in 2012, representing a four-percentage-point decrease from 2011.

Obviously a big factor has been more stable premiums which continually has a significant impact on overall customer satisfaction.  However, J.D. Power and Associates pointed out that there was increases in satisfaction in nearly every factor across the board.

 Below is customer satisfaction in Atlantic/Ontario region broken down by insurer.

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