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RAA tops for general insurance customer satisfaction - marginally ahead of RACT, RAC and Shannons

Source: Roy Morgan Single Source (Australia). Jan-Dec 2019, n = 38,954; Jan-Dec 2020 n = 37,655.
Base: Australians 14+ who held General Insurance Policies.
The latest Roy Morgan General Insurance Satisfaction report reveals South Australian-based RAA had the highest general insurance satisfaction at 94% in December 2020, an increase of 3% points on a year ago.

Just behind RAA are Tasmania’s RACT with a customer satisfaction of 92% (down 1% point), Western Australia’s RAC on 92% (up 5% points) and Suncorp Group owned Shannons on 91% (up 1% point).

The largest improvement among the leaders for general insurance satisfaction has been by the Suncorp Group’s Bingle which increased customer satisfaction by 8% points during 2020 to an impressive 88%.

The larger general insurance brands which cater to a more diverse range of customers nation-wide have also had a good year with improvements in customer satisfaction across the board. The big improvers included CommInsure (up 8% points on a year ago), Budget Direct (up 8% points), Allianz (up 5% points), and the larger State-based RACQ in Queensland (up 5% points) and NRMA in NSW (up 3% points).

The five brands shown below in the chart far exceed the average for customer satisfaction in the general insurance industry. Overall in December 2020 a majority of 82% of Australians are satisfied with their general insurer, up 3% points from the same time a year ago at 79% in December 2019.

These latest results are based on in-depth interviews conducted with over 50,000 consumers per annum including over 35,000 with general insurance.

General Insurance Satisfaction - Top 5 Performers in December 2020

Source: Roy Morgan Single Source (Australia). Jan-Dec 2019, n = 38,954; Jan-Dec 2020 n = 37,655. Base: Australians 14+ who held General Insurance Policies.

Michele Levine, Chief Executive Officer, Roy Morgan, says:

“South Australian based RAA had the highest satisfaction for general insurance customers in December 2020 at a market-leading 94% - up 3% points on a year ago. RAA is marginally ahead of RACT on 92%, the reigning winners of the Roy Morgan Customer Satisfaction Award for the last five consecutive years of 2015-2019.

“The impressive result for RAA of increasing customer satisfaction amidst the COVID-19 pandemic was experienced across the industry with 82% of Australians satisfied with their general insurer in the year to December 2020, an increase of 3% points on 2019.

“The larger brands which hold diverse nation-wide customer bases have also performed well during 2020 with large increases in customer satisfaction led by CommInsure (up 8% points on a year ago), Budget Direct (up 8% points) and Allianz (up 5% points).

“Looking at customer satisfaction at a group level shows IAG Group (including brands such as NRMA, CGU, SGIC, SGIO and Swann Insurance) and Suncorp Group (including brands such as AAMI, GIO, Apia, Shannons, Bingle and Vero) stand out with the highest customer satisfaction of the major insurance groups.

“The General Insurance Customer Satisfaction Report provides an independent and reliable measure of customer satisfaction for General Insurance where it is placed in context with other industries across Australia. The report includes the latest 12 month ratings and trends in General Insurance satisfaction (overall and by brand).

 “Satisfaction is analysed in detail by customer overall and by brand and is one of the strongest non-financial performance research measures available to companies. This report allows companies to compare performance against their peers and benchmark against the best in their industry.“

The Roy Morgan Customer Satisfaction Awards highlight the winners but this is only the tip of the iceberg. Roy Morgan tracks customer satisfaction, engagement, loyalty, advocacy and NPS across a range of industries and brands. This data can be analysed by month for your brand and importantly your competitive set.

Need to know what is driving your customer satisfaction?
Check out the latest Roy Morgan Customer Satisfaction Dashboard at roymorganonlinestore.com/Awards.aspx

For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309
askroymorgan@roymorgan.com


About Roy Morgan

Roy Morgan is the largest independent Australian research company, with offices throughout Australia, as well as in Indonesia, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan has over 70 years’ experience in collecting objective, independent information on consumers.

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