A new study from J.D. Power provides fresh perspective on the performance of large business commercial insurers and brokers, where risk managers are concerned.
Approximately 1,000 customers who are risk professionals and employees of companies with annual revenues or an operating budget exceeding $100 million participated in the J.D Power 2014 Large Business Commercial Insurance Study, which measures customer satisfaction for commercial property, workers' compensation and auto insurers across five factors: interaction, program offerings, price, billing and payment, and claims.
Broker satisfaction ratings were based on four aspects: ease of contacting the broker, the reasonableness of the fees, the guidance provided when it comes to selecting programs, and the timeliness of resolving a contact or providing a solution to an issue.
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