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HUK-COBURG declared Car Insurance winner in latest Satmetrix benchmark reports
Car insurance leader HUK-COBURG is also Customer Experience winner, according to Satmetrix Net Promoter® reports published last month
Rankings are based on independent research conducted by Satmetrix, co-developers of the Net Promoter® Score and leaders in the customer experience software market. The results are based on detailed responses from more than 16,000 European consumers, including more than 4,400 German consumers who had purchased or used products or services from major brands within the previous 12 months. In the car insurance sector, nearly 1000 German consumers rated their likelihood to recommend each brand, as well as various aspects of customer experience including product or service features, customer service and overall value, allowing Satmetrix to analyse drivers of loyalty and performance gaps.
In this research, HUK-COBURG obtained the highest NPS® Score with 28%, more than double the score of its closest competitor, and 26 points ahead of the industry average. Dr. Wolfgang Weiler, CEO of the HUK-COBURG, declares: "We have always placed our customers at the centre of our business, and we are honoured to see our values rewarded with their loyalty. Word of mouth is crucial in the insurance business, particularly car insurance. Therefore we understand the link between customer delight and business outcomes, with customers renewing year on year, but also recommending us to their friends."
Beyond the support of their customers, HUK-COBURG has been recognised by leading industry associations; it received the highest rating for its content insurance offering by the independent agency Assekurat, which continuously assesses the ability for insurance organisations to respond to the demands of their customers in terms of quality. HUK-COBURG has also been awarded a "Value for Money" prize by Kubus 2010, and "Best Insurer of the Year" by Focus Money (2010) and Auto Zeitung (2009).
A leader in claims management, HUK-COBURG offers full settlement of damages, from original evaluation, to courtesy cars and repair at around 1,200 partner workshops. The company processed its millionth claim in March 2011, a milestone for its staff who provides a comprehensive service in case of accidents, not only through cash payments, but also actual help in emergencies. Regular customer surveys, carried out by HUK-COBURG, confirm the findings from the Satmetrix report, and show high customer satisfaction scores with regards to the services they receive from the Group.
How to calculate the Net Promoter Score
A company's Net Promoter Score, or NPS, is based on customers' likelihood to recommend the company's product or service. NPS is calculated as the percentage of customers who are Promoters, rating the company 9 or 10 on a zero-to-ten point scale, minus the percentage who are Detractors, rating 6 or lower.
Full reports are available for purchase on www.satmetrix.com and www.netpromoter.com.
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