Consumers like agents' expertise but banks get high service marks
Article Abstract:
The 1995 Best's Review National Insurance Survey indicates that insurance agents need to focus on more aggressive marketing and improved customer service to remain competitive with banks. Most consumers are aware that banks offer insurance products and believe that banks offer better service, financial advice and security. However, 87% of those surveyed still prefer purchasing insurance through the traditional agent/company system. Insurers are also trusted more than banks, according to the survey.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Customers give high marks to companies and agents: long-term policyholders surveyed
Article Abstract:
Consumers have a good image of their life, homeowners and auto insurance agents and companies, according to a survey conducted by America's Research Group. Of the 1,000 people surveyed, 92% feel that their insurance agent is trustworthy and professional, and 87% feel that their insurer has the best interest of the customer in mind. The price of a policy is the major driver of sales, while customer satisfaction and the perception of value are the major drivers of customer loyalty.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Consumers like agents' expertise: but banks get high service marks
Article Abstract:
The results of Best's Review's 1995 National Insurance Survey indicate that consumers are very willing to buy insurance products from banks but that consumers also support traditional insurance marketing channels. Some 87% of respondents said that the traditional insurer/agent channel was their preferred means of buying insurance. But 56.4% of respondents rated banks as superior in service, with only 12.2% rating insurance agents as superior.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Company hammers away at workers' comp costs. Opportunities growing in self-insurance market. Temporary duty program cuts comp costs a "TAD." (Temporary Alternative Duty program for disabled workers)
- Abstracts: Few sheriffs on the wild, wild Internet. Insurers venture onto the Internet web. Imaging can improve service, cut costs
- Abstracts: NAIC under fire; The NAIC struggles to redefine itself. Shakeups looming for mutual executives. Under fire: the NAIC struggles to redefine itself