7 Insurers Evaluated by UK Brokers

Results of the latest satisfaction survey from Brokerbility, a U.K.-based broker club, indicate insurers are performing unsatisfactorily in the areas of claims, underwriting, accounts and overall satisfaction. The biannual report, which involved around 700 respondents from the broker club’s 37 member firms, rated seven key insurer partners’ performance in these areas; AXA was the only firm found performing above the 80-percent approval benchmark.

AXA recorded an overall rating of 80.74 percent, receiving top marks overall in claims, coming in first place for claims in three of five individual lines of business. But AXA excelled in the accounts category with an approval rating of 93.10 percent.

The other six insurers – Allianz, Aviva, Chartis, NIG, RSA and Zurich – fell short of the expected standards:

Allianz

Claims—73.16

Underwriting—67.8

Accounts—87.9

Overall Satisfaction—76.29

Aviva

Claims—71.12

Underwriting—65.3

Accounts—50.3

Overall Satisfaction—62.24

Aviva Bonus

Claims— N/A

Underwriting—73.4

Accounts—N/A

Overall Satisfaction—64.94

AXA

Claims—76.52

Underwriting—72.6

Accounts—93.1

Overall Satisfaction—80.74

Chartis

Claims—67.14

Underwriting—67.8

Accounts—76.2

Overall Satisfaction—70.38

NIG

Claims—74

Underwriting—64.5

Accounts—79.50

Overall Satisfaction—72.67

RSA

Claims—71.1

Underwriting—62.1

Accounts—84.7

Overall Satisfaction—72.63

Zurich

Claims—66.26

Underwriting—65.2

Accounts—81.2

Overall Satisfaction—70.89

“The process is all about transparency and we are now in the process of compiling the feedback on areas in which insurers can improve,” said Ashwin Mistry, Brokerbility chairman. “Additionally, we will soon receive the results on how brokers are performing in the eyes of insurers. As an industry it is important to have give and take.”