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For insurance companies, even routine interactions like account management and policy selection can determine whether a customer will become a promoter of your brand—or a detractor.
Recent NPS data revealed five UK insurers who set themselves apart as CX leaders in an otherwise undifferentiated market, primarily due to their performance in routine episodes like purchasing policies, making policy changes, and filing claims.
NPS Prism's journey level insights reveal that clarity and ease-of-experience are critical in predicting a customer’s likelihood to recommend a brand, as evidenced by the following customer journeys:
Customers of leading insurers are 10% more likely to describe purchasing a new policy as easy, compared to the rest of the market. To close the gap with their competitors, UK insurers can prioritize creating an streamlined, simplified purchase process.
Customers of leading insurers are nearly 20% more likely to have a clear understanding of how making changes affect their premiums, compared to other insurers. Clear communication and readily available policy information play a central role in ensuring satisfaction when customers are looking to change their plan.
Customers of leading insurers are 10% more likely to enjoy an error-free experience when managing their accounts, versus other insurers. By eliminating frustrating errors on online account portals, insurers can gain a competitive advantage in CX.
Customers of leading insurers are 20% more likely to find the claim submission process clear and 30% more satisfied with the settlement amount—resulting in a 30% higher likelihood of renewal compared to other insurers. As previously discussed, claims journeys are critical to driving customer loyalty and doing so depends on more than the claim amount.
Schedule a personalized discovery session to explore our platform and gain never-before-seen NPS insights based on thousands of insurance customers, with competitive analyses curated just for your business.