Policy holders of risk and life insurance unsatisfied

In the year 2016, satisfaction amongst risk and life insurance policy holders was 67.4%, down from 68.8% in 2015, and still lower than that of all other major insurance types. Less than one in four (23.9%) risk and life policyholders were “very satisfied” with their insurance companies. These are the latest findings from Roy Morgan’s Single Source survey of over 50,000 consumers, which includes detailed coverage of over 9,000 risk and life insurance policy holders.

Holders of risk and life insurance who purchased their insurance in person from an insurance company branch have a much higher level of satisfaction (76.4%) than
those using all other methods. Purchasing directly from an insurance company online (74.9%) or by telephone (71.9%) also boosts satisfaction levels. In contrast, satisfaction with risk and life insurance purchased through insurance brokers is below average, at just 67.1%.