Roy Morgan Customer Satisfaction Awards 2019: the best brands in banking and finance
The 2019 Roy Morgan Customer Satisfaction Awards were presented in Melbourne on Tuesday evening. This year’s awards added six new banking and finance categories, taking the total list of winning banks, insurers and superannuation funds to fourteen.
Commonwealth Bank (Major Bank) continued its dominance by securing its seventh straight customer satisfaction award. Bank Australia (Bank) and Newcastle Permanent Credit Union (Building Society/Credit Union) both recorded their first win of the annual award.
Commonwealth Bank’s Nicole Rahme (right) celebrating their win in the Major Bank of the Year category with Roy Morgan CEO, Michele Levine (left)
RACT (General Insurer) and RAC (Major General Insurer) won their respective categories with seven and twelve monthly wins respectively. Insuranceline (Risk and Life Insurer) took out its third annual award, and MLC (Major Risk and Life Insurer) was a first-time winner. Tasmanian-based St.LukesHealth (Private Health Insurer), Defence Health (Major Private Health Insurer - Not for Profit or Restricted) and ahm (Major Private Health Insurer – Retail) were the other insurance category successes.
Defence Health triumphs with Major Private Health Insurer of the Year – Not for Profit or Restricted
Macquarie (Retail Superannuation Fund) fought off stiff competition to win another annual award, whereas Colonial First State (Major Retail Superannuation Fund) won comfortably with eleven monthly awards. HESTA (Major Industry Superannuation Fund) was welcomed to the winner’s podium for the first time.
The atmosphere is electric! HESTA celebrating their Major Industry Superannuation Fund of the Year award
Bank Australia celebrating their maiden win in the Bank of the Year category with Roy Morgan CEO, Michele Levine (right)
Banking and finance category winners for 2019:
| Bank of the Year | Bank Australia |
| Major Bank of the Year | Commonwealth Bank |
| Building Society/Credit Union of the Year | Newcastle Permanent Building Society |
| General Insurer of the Year | RACT |
| Major General Insurer of the Year | RAC |
| Risk and Life Insurer of the Year | Insuranceline |
| Major Risk and Life Insurer of the Year | MLC |
| Private Health Insurer of the Year | St.LukesHealth |
| Major Private Health Insurer of the Year (Not for Profit or Restricted) | Defence Health |
| Major Private Health Insurer of the Year (Retail) | ahm |
| Retail Superannuation Fund of the Year | Macquarie |
| Major Retail Superannuation Fund of the Year | Colonial First State |
| Industry Superannuation Fund of the Year | UniSuper |
| Major Industry Superannuation Fund of the Year | HESTA |
Michele Levine, CEO, Roy Morgan, says:
“Now in its eighth year, the Roy Morgan Customer Satisfaction Awards are about rewarding Australian businesses with the highest levels of customer satisfaction. Winners of the annual award have been capable of not only reaching high levels of satisfaction, but also being able to maintain those levels despite all internal or external challenges faced throughout the year.”
“The banking and finance category hosted a mix of repeat winners, such as the dominant Commonwealth Bank, to smaller institutions, such as Newcastle Permanent Building Society, who won an award for the first time. It shows that these awards can be won be any brand that’s in the business of delivering high satisfaction.”
“Six additional banking and finance awards were handed out during Tuesday evening’s presentation, awarding brands that fell within the ‘major business’ category. Winners of these new categories included RAC, MLC, Defence Health, ahm, Colonial First State and HESTA.
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Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
| Sample Size | Percentage Estimate |
| 40% – 60% | 25% or 75% | 10% or 90% | 5% or 95% | |
| 1,000 | ±3.0 | ±2.7 | ±1.9 | ±1.3 |
| 5,000 | ±1.4 | ±1.2 | ±0.8 | ±0.6 |
| 7,500 | ±1.1 | ±1.0 | ±0.7 | ±0.5 |
| 10,000 | ±1.0 | ±0.9 | ±0.6 | ±0.4 |
| 20,000 | ±0.7 | ±0.6 | ±0.4 | ±0.3 |
| 50,000 | ±0.4 | ±0.4 | ±0.3 | ±0.2 |
