RIMS & JD Power to Measure Commercial Insurer and Broker Satisfaction

J.D. POWER TEAMS WITH RIMS TO MEASURE CUSTOMER SATISFACTION AMONG RISK MANAGERS OF COMMERCIAL INSURERS AND BROKERS

WESTLAKE VILLAGE, Calif.: — J.D. Power and RIMS, the risk management society, today announced an alliance to measure large business commercial insurer and broker satisfaction in the inaugural J.D. Power 2014 Large Business Commercial Insurance Satisfaction Study.^SM The study is slated for publish in November 2014.

“We are excited to be working with RIMS to produce a study that will establish a set of key metrics for risk manager satisfaction,” said Jeremy Bowler, senior director of the insurance practice at J.D. Power. “The study will help insurers and brokers understand their own strengths and weaknesses—and those of their competitors—and build customer loyalty and increase competitiveness.”

The study will measure risk practitioners’ satisfaction with both their commercial insurers and the brokers who manage their insurance needs. Key industry trends and issues in the large business commercial market will be identified in order to provide an in-depth understanding of the needs, expectations and desires of today’s large business customers.  Additionally, the study will examine the performance of each profiled brand included in the study, highlighting competitive gaps and providing insights into opportunities for insurers and brokers to improve customer satisfaction, commitment and advocacy.  

Satisfaction is measured in four areas: commercial property insurance; workers compensation insurance; automotive insurance; and insurance broker performance. For a list of large business commercial insurers and brokers profiled in the study. (List on Page 3)

“RIMS has a responsibility to provide our global network of risk professionals with the knowledge to make prudent decisions that are critical to the success of their organizations,” said Mary Roth, RIMS executive director.  “This study will afford both buyers and sellers of insurance a new perspective on this highly competitive market. We are excited about our alliance with J.D. Power on this initiative and look forward to delivering the results to the industry.”

J.D. Power and RIMS will begin working together at the RIMS 2014 Annual Conference & Exhibition, April 27-30, 2014, in Denver, Colorado, at which time risk and financial managers will be given an opportunity to take the study survey. Risk and financial managers can take the survey at J.D. Power’s exhibit at booth #1239.

J.D. Power is a global marketing information services company best known for its Voice of the Customer research. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. J.D. Power’s research provides insurance companies with detailed feedback on the shopping, claims and service customer experience.

RIMS is a global not-for-profit organization dedicated to advancing the practice of risk management. RIMS brings networking, professional development and education opportunities to its membership of more than 11,000 risk management professionals who are located in more than 60 countries.

The following large business commercial insurer and brokers will be targeted for profiling in the 2014 Large Business Commercial Insurance Satisfaction Study:

Property Insurance

AEGIS

ACE Limited

American International Group (AIG)

Allianz AG

Chubb

FM Global

Liberty Mutual

Lloyd’s of London

Oil Insurance Limited

Swiss Re

Travelers

XL Group

Zurich Insurance Group

 

Workers Compensation Insurance

ACE Limited

American International Group (AIG)

AmTrust North America

Berkshire Hathaway Group

Chubb

CNA Insurance

The Fairfax Insurance Group, LLC

The Hartford

Liberty Mutual

Old Republic International

Travelers

W.R. Berkley Corporation  

Zurich Insurance Group

 

Automotive Insurance

American International Group (AIG)

Auto-Owners Insurance

The Hartford

Liberty Mutual

Nationwide

Old Republic International

Progressive

Travelers

Zurich Insurance Group

 

Insurance Brokers

Alliant Insurance Service Inc.

Aon Corp.

Arthur J. Gallagher & Co.

BB&T Insurance Services

Brown & Brown Inc.

HUB International

Lockton Cos. LLC

Marsh & McLennan Cos. Inc.

National Financial Partners Corp.

USI Holdings Corp.

Wells Fargo Insurance Services USA Inc.

Willis Group Holdings P.L.C.