Chubb Ranked Tops In Agent Survey

By Mark E. Ruquet

NU Online News Service, July 20, 4:11 p.m. EDT?Chubb-personal lines insurance was rated number one in company performance by a New York agents group in its latest survey.[@@]

Chubb's ranking was part of the Professional Insurance Agents of New York's second annual Company Performance Survey, which asked the association's agents to rate companies on seven different business issues.

Chubb personal lines scored number one with a score of 63.4 out of a possible 80, followed by National Grange-commercial lines at 62.2, Travelers-personal lines at 61.9, New York Central Mutual at 61.4, and, rounding out the top five, Preferred Mutual at 61.3.

A total of 357 agents responded to the survey over the Internet or with a facsimile transmission. Agents were asked to rate one of 38 companies and lines on a scale of one to five, five being the highest rating. Each rating was in response to a question where agents were asked to agree or disagree with a statement.

PIANY selected the companies and lines based on an internal survey of most-used carries by the association's agents, said an association spokesperson.

The seven areas of interest the survey covered were products and pricing, treatment of agents, marketing support, technology, claims handling, service, and underwriting.

While Chubb-personal was rated number one in its personal lines, its commercial lines came in tenth at 59.6.

Fairing least well in the survey, rounding out the bottom five were Fireman's Fund-commercial at 49.8, OneBeacon-personal at 47.9, OneBeacon-commercial at 47.7, Great American at 47.6, and AIG-commercial at 46.9. However, only 17 agents responded to questions about Great American and 28 responded to Fireman's Fund. The others had more than 45 respondents.

"Feedback is vital to develop strong relationships between insurance agents and the companies they represent," said T.J. Derella, president of PIANY and president of The Kingstar Company Inc., in Kingston, N.Y.

Mr. Derella said the survey "provides an outlet for agents to voice how they think the insurance companies with whom they do business are performing, and in return the companies can review the results and determine where their strengths and weaknesses lie."

PIANY said it has prepared individual reports for each of the companies in the survey.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.