The majority of personal lines policyholders believe they are being treated fairly by their insurance company according to research commissioned by the General Insurance Market Research Association (GIMRA).
Consumers identified the three key elements of fairness as:
Policyholders identified claims handling as a key area in determining their perception of an insurer's fairness.
While, among recent claimants, 75% were ‘satisfied' with the fairness of the way in which their claim was handled, one in four cited claims handling as the area in greatest need of improvement.
The findings are drawn from a survey - “Treating Customers Fairly” – which examined policyholders' expectations of fairness.
Carl Wong, chairman of GIMRA, said: “These results remind us that perception is a key factor in consumers' attitudes to insurance, and we should continue to make every effort to ensure that policyholders not only receive the most appropriate service but feel that they do.”
