From last to first in two years – Our Insurance Times e-trade survey results
In 2019’s Insurance Times e-trading report, we were ranked bottom in both Extranet and Softwarehouse categories. Two years later, we’ve completely turned things around and have topped this year’s report table for Softwarehouse insurers and improved our ranking for Extranet insurers.
Over these two years, we’ve moved from a one-star rating to a four-star rating, across both categories and the top result for Softwarehouse insurers.
We have continued to focus on servicing your SME queries quickly, by phone, live chat or through the platform, here are a few stats we are particularly proud of:
- 400,000 Broker Live Chats, Phone calls and Referrals handled by our Underwriters in 2020
- Answer rates in the 90s with an average speed to answer in seconds
- Referrals on the platform responded to quickly, with 50% responded to within an hour and more complex ones taking a little longer
- Overall Broker Satisfaction improving significantly over the past 12 months and now at +69 Net Promoter Score
What’s changed?
Paul Tombs, Head of SME, explains: “The key has been listening to our brokers and acting on their feedback, to serve them in the way they want and be truly responsive.”
“In the past two years, we’ve totally redesigned how we support our brokers, introducing new technology, new ways of working and becoming much more responsive – now responding to brokers in a matter of minutes. Despite the pandemic, we kept our phone lines fully open and invested more in telephony and digital development, resulting in broker satisfaction improving during a very challenging time.
“We’ve worked hard to get to this position, and our SME underwriters have done a phenomenal job, under difficult circumstances, to get such positive feedback on our quality of support. Our Insurance Times e-trade survey result is a great external and independent validation of all this hard work.”
You can watch Paul discuss the results of the survey with Savan Shah, Head of Research for insurance times in this video interview as part of the results reveal. Click here to watch the video. (Paul’s interview starts at 10:46)
What’s next?
We’ve achieved a double digit increase in our net new customers in the last 12 months, and 98% of all our SME new business is now e-traded, which is fantastic progress, but we’re not complacent. We’ll continue to invest in improving Broker experience, our responsiveness and our service proposition to help Brokers ETrade more business.
