The latest results of the Gracechurch-BIBA UK Insurers Monitor are out, and the independent UK-wide study shows some encouraging news for UK Insurer service, which had been tracking very low in 2022 and early 2023.
Summary of findings:
- The average Insurer Net Promoter Score (NPS) is up by 9 points since January 2023.
- 9 out of 22 insurers now have a positive NPS and the market leader is setting the pace with an impressive NPS of +28.
- Despite progress on service, there are 6 insurers with scores of -22 or less.
- The main service challenges still revolve around insurer responsiveness and claims service.
- E-Trading technology is now used daily by around seven in ten brokers.