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Insurers score low in client satisfaction

By Song Hongmei (chinadaily.com.cn)
Updated: 2006-11-22 15:16

Related publication: Related readings:  Better regulation for agricultural insurance urged  New standard coming soon   Insurers call for simplified procedures

Over 64 percent of people are satisfied with life insurance companies' services while they said after sales service like claims and complaints needs urgent improvement, showed a survey released by the industry regulator.

The survey, conducted in 25 cities, covered 15,683 policy holders of 24 insurance companies which started operation before the end of 2003. Policy holders were asked to evaluate their insurer's policies on price, billing and payment, interaction with the company and claims.

Forty-eight percent of the respondents said they feel insurance sales agents are not stable due to the high industry turnover rate. Only 22.7 percent said they feel satisfied with their complaints services. Just over 22 percent of customers said current life insurance products are quite expensive while the figure was 41 percent concerning products of these kinds provided by foreign-funded insurers.

The survey also found that currently, one third of families have taken out life insurance policies, mainly health insurance, accident insurance and child insurance.

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The full text is available in the November Issue ofChina Insurance.