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Business insurance: service matters


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A recently released report showed that UK business consumers were more likely to switch their business insurance provider than any other service provider.

 

The report also showed that business insurance customers were most likely to change their coverage after a single bad experience.

The report states that “other than renewing a policy or buying a new one, the main reason people interact with their insurer is to file a claim, which is often a period of stress and worry. Emotions are high, and customer service should therefore be handled carefully.”

When asked to rank various business insurnace providers in terms of customer service, respondents gave insurance companies just 3% of their votes. Only loan providers were ranked lower.

Nonetheless, 64 percent of business insurance customers surveyed said they were satisfied with the customer service they received – trailing only online retailers and mobile network providers for customer service satisfaction. Only two percent said they were dissatisfied with the customer service provided by their business insurance provider.

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