Insurpoll

The definitive annual report on Canada’s P&C Insurance consumers

Since 1999, Pollara Strategic Insights’ InsurPoll has taken the annual pulse of Canada’s auto and home insurance policyholders, capturing and tracking their attitudes, behaviours, wants, and needs. Our annual subscription-based report identifies the key drivers of customer satisfaction, retention, and attraction, and sheds light on emerging trends that  influence purchase channel strategies and product development.

At a time of unprecedented challenge and change for the insurance sector – in terms of distribution channels, marketing, and policy and actuarial foundations – it is more important than ever to have a reliable and robust trend analysis of P&C insurance consumers.

Each year, we track the study’s core metrics, including channel usage, satisfaction with channel and insurance providers, consumer loyalty, likelihood to recommend, and ad awareness and reputation across the major insurance brands.

As always, InsurPoll places a special emphasis upon identifying the most effective strategies for retaining existing – and attracting new – customers. We provide a comprehensive understanding of P&C insurance customers. How are they currently buying their insurance, and how do they want to buy it in the future? What drives customer satisfaction, loyalty, shopping, and switching? What role do brands, brokers, and claims service play in retaining and attracting consumers?

We also gauge awareness, appeal, attitudes, and engagement regarding new products and industry developments. Are policyholders aware and attracted to usage-based insurance (UBI) policy options, including telematics?  Are they informed about climate change and extreme weather-related insurance policies, and what do they expect from their insurance company in cases of flooding and other disastrous events?  What do they expect from their P&C insurance company – in terms of communications efforts, rebates, and policy changes – during the COVID-19 pandemic?

Areas of Investigation

Distribution channels: How many policyholders are relying on the broker, agent, direct, and internet channels? Who are they, how satisfied are they, and what are the key drivers of channel choice? How do they want to buy insurance in the future?

Satisfaction with insurance provider: How satisfied are policyholders with their provider, their policies, the variety of coverage options, the competitiveness of discounts, the ease of obtaining and changing their policies? How likely are they to recommend their provider? What are the key drivers of satisfaction? What level of satisfaction is necessary to retain customers and encourage them to recommend?
informed

Claimant satisfaction: How satisfied were claimants with the claims experience overall and with key elements, including the representative, procedure, policies, and perceived fairness of the settlement.

Price and billing: Have premiums changed? If so, how were they informed, and did it affect satisfaction, loyalty, and prevalence of shopping or switching? What are policyholders’ current – and preferred – methods for billing and payment? Are billing statements clear, and how should they be improved?

Loyalty: What are the key drivers of provider choice and renewal? How likely are customers to renew or switch? Are they shopping – for what? What is the influence of price, incentives, promotions, communications, and external factors like aggregators on satisfaction and loyalty? What constitutes good value for money, in addition to good pricing?

Contact, information, and communications: Are consumers proactively contacted by their agents, brokers, and insurers? How does proactive contact influence customer loyalty? How do consumers view efforts to retain them? How do customers use and feel about quote aggregators as well as online chat, call centres, social media, and other communications?

Brand: What are the awareness levels, advertising awareness levels, and reputation scores for the major brands, including your own?

Usage-Based Insurance: Are consumers aware, familiar, and interested in UBI and telematics? What is appealing? What are the barriers? Does it have potential to encourage switching? Is it more or less appealing to millennials or other generational segments?

New Products and Policies: How knowledgeable are consumers about their current policies and additional policies offered by their provider? Are policyholders aware of the policies available which cover the impacts of extreme weather such as flooding, earthquakes, and other disasters? How likely are they purchase such policies? Do they view these policies as increasingly necessary? What are the key drivers influencing adoption?

Timing

The most recent wave of InsurPoll was completed in Spring 2020.  Additional details on the project specifications and pricing can be found in our prospectus.  Our next wave of InsurPoll will launch in February 2021, with reports delivered in Spring 2021.  For more information about the 2020 report or 2021 subscription details, please contact MarioCaceres@pollara.com.