According to data from ACSI LLC, P&C insurers are improving customer satisfaction, while life insurers are steady and health insurers are slightly declining. For its American Customer Satisfaction Index, ACSI annually conducts interviews with approximately 70,000 consumers and plugs the information into an econometric model to measure satisfaction with a wide range of industries, products and large companies. The results are released on a monthly basis, with all measures reported using a scale of 0 to 100, and this month it was the insurance industry’s turn.
Previous ACSIs show that customer satisfaction with life and property/casualty insurance is higher than with health insurance, which ACSI attributes to lower premiums and fewer interactions. The same holds true for 2011. Life insurance is unchanged with an ACSI score of 80, property/casualty gains 3.8% to reach 83 and health insurance fell 1.4% to an ACSI score of 72.
