Are you satisfied with your insurance?

At CC&A Insurance Brokers, we’ve always held onto the thought that the quality of our service is not necessarily what we put into it but what you get out of it, which is why we go all out to make sure that you get the very best service and personal attention, at all times.

It’s also the reason why we noted the latest South African Consumer Satisfaction Index (SAcsi) findings about the short-term insurance industry with interest. Overall, it would seem that when it comes to some of South Africa’s largest short-term insurers, customers are only marginally more satisfied than last year.

Prof. Adré Schreuder, a customer satisfaction expert, says that the link between expectations, perceived quality and perceived value is very important in our difficult economy…and right now, perceived value is down.

Perceived value is measured in two unique but deliberate ways: overall price given the quality and overall quality given the price, so it makes sense then that those companies that are seen to be paying claims are perceived to offer better value.

Prof. Schreuder explains that younger consumers tend to rate value differently from older customers. “Insurance companies offer additional benefits like loyalty programmes and benefits. We often advise these companies that their focus should remain on paying claims and that it is crucial to recognise the emotional trauma that their customers have been through. Customers are extremely sensitive at this time and often feel betrayed by a company to whom they have been paying premiums for years when it appears that the insurer may not pay the claim,” he says.

Not surprisingly, customer loyalty reflects the impact of price tolerance on customer retention. “Most complaints are about product pricing and claims. This makes it difficult to rectify, because it means that customers generally won’t be happy unless the claims are approved or if the premiums are drastically reduced,” says Prof. Schreuder.

On a positive note, when it comes to interacting with insurers, customers generally find insurer employees to be friendly with good soft skills, therefore leading to a good insurance experience. Where this fails is when insurers do not keep their customers informed of changes and requirements, and when communication does not happen as readily as expected.

We’re always striving to find better ways of doing things, and we’d love to know your thoughts on our Customer Service, so if you have a few minutes to spare, please drop us an email.