"I think the thing that stands out tome in the study is that price still drives satisfaction for thecustomer," David A. Pieffer, property & casualty insurancepractice lead at J.D. Power, said. (Photo: Shutterstock)

Overall customer satisfaction remains stagnant in 2018 from 2017(825 on a 1,000-point scale), according to the J.D. Power 2018 U.S.Small Commercial Insurance Study. Despite the fact that smallbusinesses compromise the vast majority ofbusinesses operating in the U.S., insurers have room to grow in this market.

The study is based on responses from 2,734 small commercialinsurance customers. The study, now in its sixth year, examinesoverall customer satisfaction among small commercial insurancecustomers with 50 or fewer employees. Overall satisfaction iscompromised of five factors (in order of importance): interaction;policy offerings; price; billing and payment; and claims.

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Study rankings

Nationwide ranks highest in overall customersatisfaction (844) and performs highest in policy offerings, priceand claims. Auto-Owners Insurance (832) ranks second and AmericanFamily (830) ranks third.

Asked if the survey questioned respondents on what companiescould do better, David A. Pieffer, property & casualtyinsurance practice lead at J.D. Power, said that companies aregiven recommendations based on the data but they don't askrespondents such direct questions in this study.

"I think the thing that stands out to me in the study is thatprice still drives satisfaction for the customer," despiteimprovements to billing and policy offerings, among other areas,said Pieffer.

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