If you're a small business benefits manager searching for an insurer, you might want to check out J.D. Power's latest insurance provider customer satisfaction survey.
Entitled "2013 U.S. Small Business Commercial Insurance Study," J.D. Power got input from more than 3,000 small businesses about their experience with their insurance provider.
Top of the list? Erie Insurance was the hands-down winner.
While the industry satisfaction average was 777 points, Erie garnered 808.
Others who bested the average included American Family and Nationwide with 794 points each, and Auto-Owners Instance (789) and State Farm (787).
At the bottom of the list, tied for last place with 740 points, were The Hartford and CAN Insurance. Travelers (759) and AIG (749) were on the low side as well.
What do small businesses value in their insurance relationship?
"Satisfaction is significantly higher when an agent or broker understands their customer's business and provides guidance regarding risk than when neither of these metric is met. Policy offerings — not price — is the primary reason small business customers select an insurer; level of service is the primary reason they stay with their insurer more than two years," the survey concluded.
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