Large Commercial Insurers Notch Slight Improvements in Customer Satisfaction but Many Customers Remain ‘Indifferent,’ J.D. Power Finds

“As the industry contends with heavy catastrophic losses and strained profitability, keeping high value large commercial customers is more critical than ever,” said David Pieffer, P&C Insurance Practice Lead at J.D. Power. “The key is to deliver services and customer experiences that increase overall satisfaction. Currently, 30% of large commercial insurance customers rate their relationship with their provider as ‘indifferent,’ and 45% say they are ‘pleased’ with their relationship. The group that is ‘pleased’ is 139% more likely to renew with their existing provider and 83% likely to indicate that they will not switch insurers even if a broker recommends it.” XL Catlin ranks highest among large commercial insurers for the third straight year with a score of 796. Berkshire Hathaway ranks second with a score of 784, and Chubb ranks third with a score of 782. The 2018 Large Commercial Insurance Study provides an independent and objective measure of overall satisfaction among large commercial insurance risk professionals in the United States and Canada. The study is based on 1,659 evaluations from risk professionals or employees who provide oversight for their organization or are members of their organization’s risk management team. Organizations included in the study have at least $100 million in annual revenue or operating budget and have purchased a commercial insurance policy from one of the profiled insurers or brokers.