Direct motor insurers are more popular than branch insurers

With motor vehicle insurance it is the same as with all types of insurance: in addition to the contributions and benefits, the way the insurance is taken out is also decisive from the consumer’s point of view. And consumers are more likely to choose direct insurers than providers who sell their products to people through intermediaries.

At least that’s how you can read the results of a customer survey that the German Institute for Service Quality carried out on behalf of the news channel ntv between May and July. In addition to the price-performance ratio, the contractual benefits, the service, bad experiences and the willingness to recommend them to others were asked and summarized in an “overall customer satisfaction rating”.

A total of 25 motor insurance companies with an intermediary network and 14 direct motor insurance companies were studied, whereby a company was only included in the individual analysis if at least 100 customer reviews were collected. In the end, only 23 branches and nine direct providers were listed in the individual evaluation (results in detail).

Direct providers have the advantage

While more than 85 percent of the almost 3,800 respondents are satisfied with the direct insurers’ service, the figure is around 84 percent for the branch insurance companies. It is not surprising that the former primarily deals with the telephone service, while the latter can trump with personal advice on the spot.

It is also hardly surprising that the customers of the direct insurance companies, who are already more aware of the premiums, are more willing to switch. More than one in four respondents indicated that they had switched providers within the past three years or were planning to switch providers soon. This proportion is only half as high for customers of branch insurance companies. The willingness to change is not only driven by cheaper offers, but also by bad experiences during an injury: At least 30 percent of the survey participants were dissatisfied with the regulation from their insurance company. For brokers, this message can serve as a good starting point for a consultation.

Top 3 among the motor industry’s insurance companies

HUK-Coburg takes first place among the motor industry’s insurance companies with the rating “good”. When it comes to service and contract benefits, the insurance company is at the top with 87.6 and 87.3 percent positive ratings respectively. At the same time, the share of negative ratings, with less than three percent, is the lowest among industry insurance companies. The price-performance ratio is rated third best with 78.2 points. The willingness to recommend, the so-called Net Promoter Score (NPS), of plus 41.8 points is not as high as that of the second-placed company.

Behind HUK, Landwirtschaftliche Versicherungsverein LVM comes in second place, whose price-performance ratio is even the highest with 94 percent approval and 78.9 points achieved. The NPS is also relatively high with plus 44 points (best result among industry insurance companies). In terms of contractual services and service, the provider is still in the top 3.

Württembergische Gemeinde-Versicherung WGV took bronze and scored “good” overall. 87 percent of the respondents are satisfied with the service. Only 4.5 percent complain about negative experiences. However, the provider does not appear in any of the categories mentioned in the first three places, which has to do with the weighting of the partial results. In terms of price-performance ratio, WGV only took sixth place, but with 77.5 it is only slightly behind the front runners.

It is noteworthy that ADAC Versicherung occupies good positions in the subcategories of car insurance companies (price-performance ratio, contract services: 2nd place each), but in the overall customer satisfaction rating “only” occupies fourth place with 77.4 points.

The 3 best direct vehicle insurance companies

CosmosDirekt and HUK24 got the best rating, i.e. “very good”.
In terms of customer satisfaction, CosmosDirekt scored 81.2 points. 92 percent of the respondents are satisfied with the contractual services. Dissatisfied customers account for less than two percent. The willingness to recommend is plus 54.5 points.

At HUK24, number two, 95 percent are satisfied with the relationship between price and performance. In almost 94 percent of cases, survey participants rated the service positively. Only about three percent have something to complain about. The willingness to recommend is similarly good: it is plus 45.5. When it came to customer satisfaction, the insurer won silver with 80.4 points.

Sparkassen direct insurance took third place. 32 percent of respondents are even “very satisfied” with the contractual services, which is the highest value among direct insurers. Overall, the provider has a score of 78.7 in relation to customer satisfaction.

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