2012 Insurance Website Evaluation Study Results
The information found on an auto insurance company's website is gaining value as a marketing tool, according to the J.D. Power and Associates 2012 Insurance Website Evaluation Study. This is the first study of its kind conducted by J.D. Power, and is based on evaluations provided by 1,650 auto insurance shoppers in March 2012. Allstate, Esurance, GEICO, and Travelers are the highest performers in the study. Other auto insurers profiled in the study (in alphabetical order) are 21st Century, American Family, Amica Mutual, Farmers, Liberty Mutual, Nationwide, Progressive, State Farm, and The Hartford. The study takes into account five factors that contribute to the customer's overall satisfaction with an auto insurer's website: ease of navigation; appearance; clarity of information provided; range of services that can be performed; and speed.
The key findings of the study include:
- Nearly three-quarters (74%) of auto insurance shoppers visit at least one insurer's website--often as the first point of contact with that insurer.
- Seventy-two percent of survey respondents who requested a quote online got one immediately; 18% had to wait for a follow-up response; 10% stated that they could not get a quote at all.
- Speed is an important factor in judging a website. The overall satisfaction score for shoppers who indicate getting a quote faster than they expected is 857 points on a 1,000-point scale, compared with 612 for shoppers who say the quote took longer than expected.
- The industry average satisfaction score is 702 points.
- More than one-third (34%) of auto insurance purchasers now buy their policies online.
- Fifty percent of shoppers who report high levels of satisfaction with an insurer's website (900 points or higher) say they would definitely recommend that insurer to others. This compares with only two percent of those who report a satisfaction score of less than 550 saying they'd recommend that insurer to others.
Thus, while other factors might still carry considerable weight, the usefulness and efficiency of an auto insurer's website can't be underestimated as a way of attracting customers.
The key findings of the study include:
- Nearly three-quarters (74%) of auto insurance shoppers visit at least one insurer's website--often as the first point of contact with that insurer.
- Seventy-two percent of survey respondents who requested a quote online got one immediately; 18% had to wait for a follow-up response; 10% stated that they could not get a quote at all.
- Speed is an important factor in judging a website. The overall satisfaction score for shoppers who indicate getting a quote faster than they expected is 857 points on a 1,000-point scale, compared with 612 for shoppers who say the quote took longer than expected.
- The industry average satisfaction score is 702 points.
- More than one-third (34%) of auto insurance purchasers now buy their policies online.
- Fifty percent of shoppers who report high levels of satisfaction with an insurer's website (900 points or higher) say they would definitely recommend that insurer to others. This compares with only two percent of those who report a satisfaction score of less than 550 saying they'd recommend that insurer to others.
Thus, while other factors might still carry considerable weight, the usefulness and efficiency of an auto insurer's website can't be underestimated as a way of attracting customers.