An independent view of brand strength
in the commercial insurance sector
An independent view of brand strength
in the commercial insurance sector
Report
The Gracechurch Service Quality Marque is awarded annually based on the Net Promoter Score (NPS) achieved by each insurer over the previous year combined with how they rate on Communications and Commerciality.
Based on the Gracechurch evidence, SQM achievers deliver great service experiences consistently at least 75% of the time, and rate highly on being customer focused. This means that brokers can recommend these insurers to clients with confidence.
Congratulations to the insurers who achieved the SQM in 2023: the London Market has some strong service players and the number achieving the award has risen from six in 2022 to eight in 2023. This is evidence that the service bar is being raised in London.
Aegis has upped its game in the past two years and its service is now among the best in the Market: responsive and committed to great service, the team knows what it has to do to be excellent and is not satisfied until it has achieved that.
Beazley is one of the strongest teams in the Market, rated highly for its technical capability – Beazley also delivers a responsive and timely service with the added plus that if things gets tricky they have the strength-in-depth to solve any claims challenge.
Chaucer has been a claims service leader for the past two years and continues to deliver excellent service from its London team. The team is responsive and helpful, always there to find solutions for claims issues.
Chubb is a large company and a large claims team, and has worked hard at ensuring service consistency, building strong broker recognition across a dazzling array of business classes and services. Chubb is a strong technical play with thoroughness at its heart making sure that claims are handled decisively and clearly – an excellent way to build trust. The leadership is very strong and committed to rasing the bar on service, so we expect to see Chubb getting better and better.
As a relative newcomer to the London Market claims scene Convex has performed extremely well in 2023 topping many of the ratings and raising the service bar in London Claims.
The team is highly rated for its responsiveness and knowledge. The most exciting aspect is they’ve only just got started.
Fidelis is another newcomer which has set its claims service stall out early. Fast growth in the business has not been to the detriment of the claims offerring and the team, albeit still small has laid strong foundations with a responsive and relationships-based claims service.
LSM is one of the largest business’ in the market but isn’t in any way sluggish: the team delivers service to a high standard consistently, providing a responsive claims service that is all about adding value and connecting claims to LSM’s whole service proposition. The increasingly global claims service capability is the icing on the cake.
TMK is first and foremost a team that goes the extra mile to service claims: the people in the team have a strong service ethos and the leadership knows what makes great claims service.
Despite the challenging service conditions in the UK regional market, three players have achieved the SQM in 2023. These are the same players who achieved in 2022, demonstrating their commitment and consistency. The Gracechurch data shows signs that several others are on an upward curve and the hope is for more SQM achievers in 2023 and 2024.
Allianz is one of the largest players in the market and its service quality is impressive: investment in claims portal technology has been executed well, achieving a good balance between people and tech, something that the rest of the market could learn from.
The claims team is determined, engaged and believes in making service better for the customer – an attitude that is led right from the top.
Chubb achieves strong service ratings and consistency across a range of classes in the UK market. It lives up to the iconic status that Chubb has for claims and is also highly rated for its technical strength and clear decision-making. This approach creates efficiency and builds confidence among its broking claims partners.
Ecclesiastical stands for and delivers excellent claims service, topping the service charts in most service attributes that we test, but especially on Responsiveness and staff Knowledge. The personal service from the specialist team is excellent and sets a high bar for the Market overall.