A new study has revealed that ICMIF member RAC WA is Australia’s Most Recommended Brand in property insurance for 2018.
The 2018 Property Insurance Consumer Recommendation and Loyalty Study, conducted by Australian business consultancy Engaged Strategy, surveyed over 1,600 Australian property insurance customers using advanced Brand and Customer Experience metrics, including the popular Net Promoter Score.
The property insurance study found that RAC WA achieved a Net Promoter Score of positive 37 per cent, which was considerably higher than the category average of positive 6 per cent, and far exceeded the lowest performing brand which scored negative 9 per cent.
RAC Insurance CEO, Andrew O’Hara said: “We are incredibly proud to be recognised as one of Australia’s most recommended insurers. Representing more than one million members, RAC has been part of the Western Australian community for 113 years, and throughout that time our members have remained at the heart of everything we do.
“RAC exists to protect and enhance the lifestyles of our members. We do that by providing great products and services that match our member’s needs, and in turn by reinvesting our profits into initiatives that help create a better WA, such as advocating for safer roads, easier transport, and more sustainable mobility,” O’Hara concluded.
Engaged Strategy Managing Director Christopher Roberts explained that brands like RAC WA understand that insurance as a product is for peace of mind in case something happens, but how these brands win is by offering their members more added value right now. Other insurance brands have started to offer discounts on a variety of goods and services, but nobody owns this territory better than motoring clubs. Their entire legacy began as ‘member’ organisations, as opposed to ‘commercial’ brands who also offer discounts. This distinction may seem small, but plays a huge role in how customers feel about recommending their provider.
“Being the most recommended brand in this category is not just about insurance features and service. Offering their members more than simply insurance was the key to creating a clear positive point of difference that enabled their members to promote their brand,” Roberts said.
The largest property insurers in Australia were assessed in the property insurance report, which included AAMI, Allianz, APIA, Budget Direct, Coles Insurance, CommInsure, NRMA, RACQ, RACV, RAC WA, and Suncorp.