How much do Canadians like their insurance providers?

How much do Canadians like their insurance providers? | Insurance Business Canada

Insurance News

How much do Canadians like their insurance providers?

Ipsos releases findings of Customer Service Index Insurance tracker

Insurance News

By
Terry Gangcuangco

Canadians are “warming up” to their insurers, according to Ipsos, which has released the findings of its latest CSI (Customer Service Index) Insurance tracker.

“Diving into the regional specifics, distinct differences emerge. Customers in Quebec continue to show their satisfaction with their insurance experience, making it the only region with a positive Net Promoter Score (NPS),” Ipsos said in a news release.

“On the contrary, British Columbia recorded a notably negative NPS, with customers there being least likely to recommend their insurance provider. Meanwhile, Ontario remained stable year over year, maintaining a negative NPS score.”

Ipsos reported that the Canadian Automobile Association got the highest NPS in 2023. Other top performers were Sonnet, Co-operators, and Belairdirect.

In the banking insurance space, Desjardins bested RBC. Ipsos cited competitive challenges as both ended the year with negative scores.

“The evolution of policy members’ expectations was another key facet of the industry’s journey through 2023,” Ipsos said.

“The year underscored the growing importance of transparency, expert guidance, and effective communication in reinforcing a sense of value among policyholders.

“Channel satisfaction presented an interesting narrative, with personal interactions with agents and advisors clinching the top spot. However, the digital wave is unmistakable, with a significant majority of clients preferring digital interactions. Co-operators and Belairdirect led this digital charge, setting benchmarks for website and mobile app experiences.”