A brokerage staff survey of insurers' performance has given carriers in the U.S. Northeast higher marks than other segments of North America, while reinsurers and specialty carriers got the highest marks overall.
London-headquartered Willis Group Holdings said it asked its 2,550 employees to rate the carriers in the areas of underwriting, policy administration, claims and service.
The employees were asked to give ratings in four categories on a scale of 1-10, with 10 the highest rating.
Willis said it received responses on 80 carriers throughout the world. The survey summary breaks the markets down into eight markets: reinsurance, North America retail, Asia Pacific, Continental Europe, Latin America, United Kingdom and Ireland retail, employee benefits, and specialty business.
In its summary report, Willis said the 80 carriers overall received a mean score of seven, but no carrier received a ranking above eight.
“There is clearly opportunity for carriers to further differentiate themselves through service and performance,” the report said, noting that the carriers received a mean score of 6.7 on policy administration and 6.62 on service. Underwriting stood at 6.98 and claims was at 6.72.
By business unit, employee benefits came in with the highest ranking at 7.23, while Willis International-Asia Pacific stood at 6.44. The Willis North America unit was ranked at 6.98. Global specialty received a ranking of 7.21 and reinsurance 7.15.
The North America business included teams from the United States, Canada, Bermuda and London. The survey found clear regional differences, Willis said, with the Northeast, Southeast and London receiving mean scores above seven while Canada and Bermuda had the lowest mean scores at 6.5 and 6.36, respectively.
Willis said there were 17 carrier groups surveyed in the North America group.
Similar to the overall rankings, North American carriers scored well on underwriting at 6.98 for all Willis associates surveyed and 7.16 among employees concentrating on that market.
At the low end of the scale, claims was ranked at 6.72 among Willis associates and 6.67 among Willis North America employees.
In a statement, Joe Plumeri, Willis Group chairman and chief executive officer, said the carrier evaluation survey is part of a wider plan dubbed the Willis Quality Index to help both employees and clients make more informed choices. It will be a blend of feedback from the evaluation survey and other “quantitative information.”
“We will use the results to enhance our services to our clients, working together with insurers to raise the standards of performance–theirs and ours,” he said.
He said Willis intends to conduct the evaluation survey on a biannual basis.
The summary report does not list any individual carriers.
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