Industry still meeting consumers’ expectations on claims

With the release of the annual Ontario auto insurance claims satisfaction survey, it seems consumer ire over rates is being offset by high satisfaction with claims handling. A full 85% of people experiencing a claim over the past year were satisfied with how that claim was handled, according to a survey compiled by the Financial Services Commission of Ontario (FSCO). Last year, the industry’s rating was 86% in the overall satisfaction category.
On the issue of timeliness of claims handling, 86% responded favorably, while 86% were pleased with the level of helpfulness offered during the claims process. Overall 85% answered positively in response to claims handlers’ knowledge and expertise, and also fairness.
The lowest overall mark came for “keeping the consumer informed”, but nonetheless the industry scored 78% in this category.
Amongst insurance companies, Chubb regained top spot for overall claimant satisfaction, at 95%. It was followed closely by Farmers’ Mutual (Lindsay) and Citadel General, both at 94%, and Pilot and Unifund, both at 91%. Last year’s top overall performer, State Farm, came in tied for sixth place at 90%, along with Gore Mutual and Security National.
Farmers’ Mutual (Lindsay) took top spot in all other categories but one, placing second on the question of “keeping the customer informed” to Co-operators General.
On the opposite end of the spectrum, Kingsway General once again came in last of all companies on overall claimant satisfaction at 70%, although this still represents an improvement over the company’s 2002 rating of 61%. Also posting lower results were Echelon and SGI-owned Coachman, at 71% and 72% respectively. The Facility Association, the industry’s pool for high-risk drivers, came in at 72%, down from 79% last year. Among the big “movers” on the list was TD Insurance, which moved above the industry average to 87% satisfaction, despite finishing in the bottom five last year.
A full listing of the survey results is at www.fsco.gov.on.ca.