June 27, 2022 – From the customer’s point of view, five providers of electronics insurance offer “very good” claims settlement: Allianz, Arag, Cosmos, Schutzbrief24 and Wertgarantie. This emerges from a study by Servicevalue for the magazine Focus-Money. A total of over 58,000 customer votes were collected for more than five dozen product providers in 19 categories.
Die Servicevalue GmbH has for the fifth time in cooperation with the magazine Focus-Money the claims and benefits settlement of companies in the insurance industry from the customer’s point of view.
The study premiered four years ago (VersicherungsJournal February 14, 2018). In addition to many other lines of business, the behavior of providers in electronics insurance was also examined in the current edition.
methodology of the investigation
Respondents were registered for the online survey conducted in December 2021 Panelists invited. Sociodemographic characteristics of these are available, “so that the population can be representative”, explains Servicevalue.
Respondents were asked to rate the product provider’s settlement of a claim or benefit for which they reported an insured event in the past 36 months. A total of 58,169 (previous year: 58,948) customer assessments of the regulatory practice of 616 (633) insurance companies and providers of coverage concepts were collected.
Five-level rating scale
Insurance customers were able to rate the regulation of a provider on a five-point scale from one (= “excellent”) to five (= “poor”). The analysis company calculated the rankings in the individual branches of insurance from the unweighted average of all client ratings for each provider.
All companies that scored above average overall received a “good”. Those who were above the average of the “good” companies received a “very good”.
Information on the number of votes per company and per division is given in the study documents (PDF, 250 KB) not available. The documents explain this aspect: “Companies surveyed are only evaluated and presented if they meet a minimum sample size, depending on the insurance line.”
Specific data on regulatory behavior – such as the speed of response or payment or the scope of regulation – was also not collected as part of the study. The market research company only asked the survey participants one general question due to the large scope of the study.
The best regulators
Of the 16 (previous year: 23) providers (coverage concept) listed in the electronics insurance segment, five (eight) received a “very good”. Another four (five) companies were rated “good” according to the Servicevalue evaluation. According to the customer rating, the remaining seven (ten) players do not offer above-average power regulation.
The “very good” top providers include (in alphabetical order) the Alliance Insurancedie Arab Insurancedie Cosmos Insurance Ltd, Protection letter24 and Wertgarantie SE (including Onlineversicherung.dea brand of Jodexnis insurance broker GmbH). All five providers defended their place in the top group.
They fell out of this Ax insurancedie So insurance (also about Otto) and mobile secure (a brand of Würzburger Versicherungs-AG). These three actors form together with Friendsurancea brand of Alecto GmbHthe “good” quartet.
Other main topics of the investigation
In the current edition of the study by Servicevalue and Focus-Money, the settlement of claims and benefits was put to the test in 19 sectors. These include motor vehicle (January 13, 2022), private and animal owner liability insurance (January 17, 2022) and occupational disability insurance (January 20, 2022).
The regulatory practice in private accident (January 27, 2022), private health (January 31, 2022), legal protection (February 3, 2022), residential building (February 14, 2022) and household insurance ( February 17, 2022). Other test segments were travel (March 2nd, 2022), additional dental insurance (March 14th, 2022), animal health insurance (March 21st, 2022) and construction work insurance (April 21st, 2022).
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