New customer insights portal for insurers launched

Defaqto has launched a new portal that will give insights into how customers feel about their experiences with insurers.

The portal will provide firms with a range insights, including satisfaction with experience of quote and buy, in-life queries and changes, claims, renewals and complaints.

It will also give insurers the opportunity to see the likelihood of consumers renewing and recommending.

Named provider level insights are accessible through the portal, which also enables firms to benchmark themselves against competitors.

John Milliken, chief executive of Defaqto, said: “Defaqto is dedicated to helping everyone make smarter financial decisions. We do not believe that anyone else is taking this kind of structured approach to providing the industry with regular research and insights to help providers make more informed decisions.

“Recognising differences between types of consumers enables providers to tailor their strategies to improve satisfaction and trust among segments. By addressing these disparities through tailored messaging and communication, providers can enhance their overall customer experience, foster greater loyalty and expand their market reach.”

Report

The data comes from a 39-point framework to measure the experience of 14,500 UK insurance customers.

In addition to the portal, insurers can also gain customer insights through Defaqto’s GI Customer Experience Insights report.

Speaking about some of the results, Milliken said: ”Overall, our research paints a positive picture of the industry.

”The great news is that 63% of respondents rate their personal experience with insurance services as generally better than with financial services as a whole and 70% rate their trust of GI providers with a score of eight out of 10 or more.

”However, there was huge differentiation in the survey, with the best providers scoring on average over 40 percentage points higher than the lowest performers when it comes to customers rating their experiences.”