January 30, 2024 – From a customer perspective, ADAC, Allianz, Ammerländer, Arag, Cosmos, DEVK, Ergo, Generali, GEV, GVO, Interrisk, Münchener Verein, Provinzial and R+V offer “very good” claims settlement in private liability insurance. This emerges from a study by Servicevalue commissioned by Focus Money magazine. In total, almost 60,000 customer opinions were collected from a total of more than 600 product providers in 19 sectors (multiple entries possible).
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Die Servicevalue GmbH has in cooperation with the magazine Focus Money The claims and benefits settlement of insurance companies was once again examined from the customer’s perspective. The study premiered six years ago (VersicherungsJournal February 14, 2018).
In the current edition, behavior in 19 divisions was put to the test. In addition to occupational disability (January 10, 2024), motor vehicle (January 16, 2024) and residential building insurance (January 25, 2024), this also includes personal liability insurance.
Research methodology
Participants were registered for evaluation in the online survey conducted in November and December 2023 Panelists invited. Of these, socio-demographic characteristics are available, “so that the control can be representative of the population,” explains Servicevalue.
The survey participants were asked to rate the settlement of a claim or service claim from the product provider for which they reported an insurance claim in the past 36 months. A total of 59,489 (previous year: 59,832) customer opinions on the regulatory practices of 627 (615) insurance companies and coverage concept providers were collected.
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Five-point rating scale
Insurance customers were able to rate a provider’s regulation on a five-point scale from one (= “excellent”) to five (= “poor”). The analysis company calculated the rankings in the individual insurance sectors from the unweighted average of all client ratings for each provider.
All companies that achieved an above-average value overall received a “good” rating. Those who were above the average of the “good” companies received a “very good” rating.
Information on the number of votes per company and per division is available Study documents (PDF, 142 KB) cannot be found. The study authors explain this aspect: “Companies surveyed are only evaluated and presented if they meet a minimum sample size, depending on the insurance line.”
Concrete data on regulatory behavior – such as the speed of the reaction or the payout or the scope of regulation – were also not collected as part of the study. Due to the large scope of the study, the market research company only asked the survey participants a general question.
Private liability insurers: the best regulators
Compared to the previous year (VersicherungsJournal February 21, 2023), the number of “very good” top providers was reduced by two (coverage concept) providers. This group includes (in alphabetical order)
- ADAC Insurance,
- Allianz Insurance AG,
- Ammerländer Insurance VVaG,
- Arag Insurance,
- Cosmos Insurance AG,
- DEVK Insurance
- Ergo Insurance AG,
- Generali Germany Insurance AG,
- Landowners insurance VVaG (GEV),
- GVO mutual insurance Oldenburg VVaG,
- Interrisk Versicherungs-AG Vienna Insurance Group,
- Munich General Insurance Association,
- Provincial Insurance and
- R+V General Insurance AG.
Three promoted teams and five relegated teams
They fell out of the top group Huk24 AGdie Hanover landscape fire fund (VGH), die NV insurance VVaGdie SV Sparkasse Insurance Building Insurance AG and the Zurich Insurance. DEVK, Interrisk and Münchener Verein made it into the group of top providers.
Every time since the start of the investigation (January 17, 2022, February 22, 2021, February 3, 2020, February 20, 2019) only R+V made it among the “very good” regulators. The Allianz (not in 2019), the Cosmos, the Generali and the GVO (both not in 2018) and the Huk24 and the SV (both not in 2024) achieved this six times each.
ADAC Versicherung (since 2020), DEVK (not 2022, not 2023) and Ergo (not 2020, not 2021) were in the top group five times.
The best private liability providers in terms of service and performance
Servicevalue determined which private liability providers treat their customers most fairly overall in over 28 service and performance aspects in a study published last September (September 7, 2023).
The Cologne market researchers identified the players with the best customer orientation in a study published last spring (May 24, 2023).
2024-01-29 23:07:16
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