To better understand how policyholders really view insurance companies in general, life, and health insurance, Forbes and Statista surveyed more than 15,000 consumers for the second annual America’s Best Insurance Companies report.
The companies were ranked by overall satisfaction in five categories:
- Financial advice
- Customer service
- Transparency/Digital services
- Probability of respondents to recommend the company
Forbes reported that the top-rated insurance companies all embraced digital processes to deliver experiences that meet the expectations of modern consumers.
“Customers’ ability to avoid face-to-face meetings, submit claims online and generally ‘do it yourself’ is disruptive to those lagging behind technology adoption,” the report said.
While technology gives some companies an advantage with policyholders, it doesn’t isolate them from the range of issues that are straining the auto insurance industry, according to the Insurance Information Institute (Triple-I).
These problems include increasing loss costs caused by the increasing frequency and severity of accidents. According to Triple-I, more accidents lead to more deaths and injuries on the road, leading to more attorney involvement in claims.
In addition, auto insurers also face supply chain issues and more expensive repairs due to tech-laden vehicles.
The slideshow above reveals the top-ranked auto insurance companies, according to the second annual Forbes/Statista survey of America’s Best Insurance Companies.