Insurers that achieve the highest levels of trust help customers understand policy coverage while personalizing products to their specific business needs. (Credit: shock/Adobe Stock)
When small businesses trust their insurance providers, overall satisfaction, loyalty and brand advocacy go up, according to a recent study by J.D. Power.
Small commercial insurance customer retention relies on trust, the data showed, despite 36% of small business owners reporting premium increases over the past year. Among small businesses with the highest levels of trust in their insurers, 81% say they "definitely will" renew with their carrier, and 79% say they "definitely will" recommend their carrier.
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
