With auto insurance rates set to soar, consumers are increasingly relying on auto dealers to sell them the best deals.
Now, a new industry report says some of the most popular car insurance companies are starting to offer their customers the best prices available.
The Insurance Industry Association (IIA) has compiled a list of the top three auto insurance companies in Australia and New Zealand, based on consumer satisfaction scores.
Consumer satisfaction scores have been the key metric for some insurance companies to improve their margins and improve their bottom lines.
The IIA report shows that car insurance company Wellness Fargo has the highest satisfaction score of all Australian and New Zealands companies, at 90.5 per cent.
That’s followed by Auto Insurance Australia (AAN), which is at 87 per cent, and CIGNA, at 83 per cent.
“There are many factors that can affect consumer satisfaction, but our research shows that well-designed and affordable insurance is the key to a great and profitable insurance industry,” IIA managing director Tim Kelly said.
“The best way to make your insurance coverage better is to get it from a trusted source.”
When you shop for your insurance you can be confident that we’re providing the best rates and a strong, competitive advantage in the marketplace.
“Consumer satisfaction score at the top car insurance providers, according to the IIA.
The study looked at the consumer satisfaction score (cScore) of each company.
The highest score is given to WellnessFargo, which has a score of 89.5.
The second highest is Auto InsuranceAustralia, with a score from 89.2.
The third highest score was given to CIGN, at 82.9.
The fourth highest score went to CITA, at 80.9, while the fifth highest score for the insurer was given by Auto Auction Mall, with 83.7.
The bottom three insurance providers on the list are Allstate (85.3), UnitedHealthcare (83.6) and AIS (83).
WellnessFlynn Insurance Australia, which is based in Perth, has a consumer satisfaction rating of 87.7, followed by CIGA (86.9) and WellnessBrisbane (86).