Canadian Underwriter

Online auto insurer displays best practices

June 22, 2006   by Canadian Underwriter

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Progressive Insurance ranked has the number one automobile insurance site, according to two competitive intelligence studies that compare online customer experience and best practices implementation of auto insurance Web sites.
The Progressive, GEICO and American Family sites were deemed the best auto insurance sites on the Web, topping the Keynote Customer Experience Rankings, an overall measure of customer experience and customer satisfaction. Progressive (both Progressive and Progressive Direct sites) and GEICO, along with USAA, also ranked atop the Keynote WebExcellence Scorecard based on their best practices evaluated in the study. The overall success of these sites also translated into increased customer acquisition impact.
The two studies, released by Keynote Systems (Nasdaq:KEYN), The Internet Performance Authority, provide data on the state of the online auto insurance industry and underscores the importance of customer experience monitoring and best practices implementation as critical factors for competing successfully in today’s online insurance market.
Keynote says its customer experience study indicates “consumers are turning away from obtaining auto insurance quotes over the phone and increasingly turning to the Web for those same quotes.”
The study, Keynotes says uncovered that in the highly competitive US$158 billion auto insurance industry, price competitiveness and the online quote process are the leading indicators of success in landing new customers online.
The April 2006 study “Customer Experience Rankings for Auto Insurance Web Sites” examines the online experience of 1,500 prospective auto insurance customers as they interacted with leading auto insurance sites. A May 2006 companion study the Keynote “WebExcellence Insurance Carrier Scorecard” measured and ranked insurance sites for online excellence according to their use and execution of more than 240 industry best practices in online policy sales and servicing.
The AIG (NYSE:AIG), Allstate (NYSE:ALL), American Family, Esurance, GEICO, Liberty Mutual, MetLife (NYSE:MET), Nationwide (NYSE:NFS), Progressive (NYSE:PGR) and State Farm sites were evaluated for the Customer Experience study. Most of these sites plus the Amica, Electric Insurance, The Hartford AARP (NYSE:HIG), Safeco (Nasdaq:SAFC), Travelers Insurance (NYSE:STA), Unitrin Direct (NYSE:UTR), USAA and 21st Century (Nasdaq:TCHC) sites were included in the WebExcellence Scorecard study.

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