High Street Banks Highly Rated for Car/Home Insurance, Says New Survey

Insurance customers across the UK have recognised 25 brands as the highest rated providers of insurance in this year’s Consumer Intelligence Awards.

Every year, data analytics company Consumer Intelligence uses its Insurance Behaviour Tracker – the largest insurance focused survey in the industry – to gather feedback from almost 50,000 insurance customers across home and motor to find out what they think of the brands from whom they have bought a policy. The brands that are rated most highly receive a Consumer Intelligence Award.

The awards are split into five categories, with 10 winners per category, duplicated across motor and home insurance – providing a total of 100 opportunities to secure an award win. The award categories are: Claims Satisfaction, Customer Satisfaction, Customer Service, Customer Trust and Recommendation by Customers. This year, 25 brands have successfully secured an award win.

The Consumer Intelligence Awards are a mark of consumer confidence. For brands, an award win provides reassurance that they are making the right strategic decisions when it comes to treating customers well – giving them the confidence to continue their journey and the motivation to strive for more. For consumers, an award win separates a brand from the rest. It builds confidence in their purchase and trust in their provider.

When it comes to Claims, brands like LV=, More Than, Sheilas Wheels, Aviva, NFU Mutual and others all rank fairly high, although Consumer Intelligence does NOT rank them according to votes, so there are no winners. In typically modern school sports day style, everyone gets a trophy.

When it comes to customer trust in the motor insurance sector, Lloyd’s Bank was listed as being amongst the top ten, which is fairly astonishing, as Lloyd’s isn’t really in the Meerkats, Direct Line, Go Compare, LV= or Direct Line high profile, high volume end of the car insurance market – some might say.

When it comes to home insurance, the big High St banks were again listed in various categories, with Barclays, Lloyd’s, Nationwide, M&S Bank, Natwest and even Santander all making the top ten, for things like customer service, claims, customer recommendation etc. Frankly, incredible.

Ian Hughes, CEO of Consumer Intelligence says: “Our awards are different from other industry awards for two major reasons. Firstly, no-one in the industry gets to vote in these awards and secondly, even the customers that are voting in the awards don’t know that they’re voting – they are simply telling us what they think about their insurer. This makes our awards totally unique and entirely authentic.

“As an insurer, you can’t influence the results by submitting a well-worded application or by taking me out for dinner. You simply must do an amazing job for your customers all day, every day, 365 days a year. This is what delivers great outcomes in these awards.”