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Institute Study confirms Chartered Insurance Brokers offer a better service

The latest study by the Chartered Insurance Institute (CII) has again concluded that SME customers rated the quality and suitability of Chartered firms’ cover higher than that of non-Chartered firms. Value, service and information were also measured either equal or marginally superior for Chartered firms against non-Chartered firms.

Written by Paul Brown on 10th November 2015

Institute Study confirms Chartered Insurance Brokers offer a better service

The latest study by the Chartered Insurance Institute (CII) has again concluded that SME customers rated the quality and suitability of Chartered firms’ cover higher than that of non-Chartered firms.  Value, service and information were also measured either equal or marginally superior for Chartered firms against non-Chartered firms. 

The study was commissioned to understand whether raising professional standards has improved the customer experience and outcomes in the general insurance market. The study focused on understanding what drove overall satisfaction and to what extent those drivers related to professional standards. 

By achieving Chartered status, firms demonstrate not just that their staff have qualified to an appropriate level, but that they have embedded values and business practices that align with the CII code of ethics. This ensures behaviours are aligned to positive customer outcomes, which the survey aimed to test. 

Through the three years of the study, SME customers rated their confidence in these outcomes from Chartered firms more than 12% higher than non-Chartered firms. 

Less than 5% of Insurance Brokers have been awarded the Chartered Insurance Broker title and their clients can be assured that it represents the pinnacle not just of qualification, but also of customer satisfaction.

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