WOMEN MORE LIKELY TO RECOMMEND MOTOR INSURERS THAN MEN
· Women’s Net Promoter Score considerable higher than men’s
· LV=, M+S, The Co-operative amongst Top 10 recommended brands
Women drivers are much more likely to recommend their motor insurer than men, according to a survey of over 12,000 pre-renewal consumers from Consumer Intelligence.
Over the last year Consumer Intelligence surveyed consumers about their motor insurance before they were renewed their policy, and asked them about the likelihood of recommending their insurer, generating a Net Promoter Score.
The industry’s average was just 1.2 (more positive responses than negative), but there was a huge difference between men and women. Amongst women, the average was a respectable 5.9 whereas men’s responses gave the industry a poor score of -3.4. Based on the traditional conclusion that anything above 0 is seen as “good”, insurers are ticking the right boxes for women but doing something very wrong overall when it comes to men.
The 10 brands which had the highest Net Promoter Score for men, women and the overall market are in Consumer Intelligence’s Top 10 tables.
All the brands in the Top 10 scored much higher than the motor insurance industry average of 1.2, with LV=’s score being more than 20 times that benchmark.
Aviva, Post Office and Direct Line were the brands that were rated highly by women but not by men, whereas R&SA, RAC and Zurich were shown to be the brands that men would recommend. Brands that showed up on both lists, scoring highly for both men and women, included LV=, M+S, The Co-operative.
Ian Hughes of Consumer Intelligence said: “The Gender Directive meant that insurers had to move away from pricing as a way of appealing to women and it seems as if they are doing something right to get such positive scores.
“Net Promoter Score is a highly valuable metric to gauge how a brand is truly performing. The brands in the Top 10 tables can be very happy that they have scored so highly and are soaring above the market average. Several brands, such as LV=, M+S, The Co-operative and Saga can be justifiably proud that they are popular with both men and women, especially in such a competitive market place”