Insurity, the leading provider of cloud software for insurance carriers, brokers, and MGAs, today announced findings from its latest P&C Consumer Pulse survey, which offers insights into consumer attitudes toward major P&C insurance carriers. The survey identifies the top three P&C insurance companies deemed most trusted by consumers. The survey’s key findings reveal that State Farm leads as the most trusted P&C insurance carrier, capturing 21% of consumer trust, closely followed by Progressive with 17% of the vote, and Geico, which garnered 16% of consumer confidence.
Being deemed trustworthy by consumers is critical for carriers for several reasons, chief among them the direct impact on customer loyalty and retention. In the competitive landscape of the P&C insurance industry, trust is the foundation of a lasting relationship between carriers and policyholders. When consumers trust their insurance provider, they are more likely to remain with that provider, even in the face of competitive pricing or aggressive marketing tactics from rivals. This loyalty stabilizes the customer base and enhances the carrier’s reputation in the market, attracting new customers through positive word-of-mouth and high satisfaction ratings.
“Insurity’s P&C Consumer Pulse survey’s findings on the most trusted P&C insurance carriers shine a spotlight on the critical importance of trustworthiness,” said Sylvester Mathis, Chief Insurance Officer at Insurity. “In today’s digital age, where information and consumer feedback are rapidly shared, a single breach of trust can have far-reaching consequences. Consumers today are more informed and have higher expectations, and they value transparency, responsiveness, and reliability in their interactions with carriers. Being deemed trustworthy signifies a carrier’s commitment to meeting these expectations, ensuring the security and privacy of customer data, and delivering on promises made.”
This survey was conducted online in January 2024, and more than 1,000 adult participants were randomly selected across the United States to ensure a representative sample. Respondents were asked a series of 8 multiple-choice questions to gauge their opinions on P&C insurance carriers.
To learn more about Insurity’s P&C Consumer Pulse survey, please get in touch with Elizabeth.Hutchinson@insurity.com.
About Insurity
Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 22 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform, unrivaled industry experience, and the industry’s most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. For more information, visit www.insurity.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240314074381/en/