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12 December 2023

NFU Mutual crowned number one for customer experience 

The insurer was one of six firms to receive an Insurance DataLab Customer Experience Gold Award for their performance over the last 12 months

Our latest research has named NFU Mutual as the best insurer for customer experience with a CX Rating of 77%, making it the second year in succession that the insurer has taken top spot. 

Second-placed Covéa is another serial Gold Award winner, having now earned an award in each of the last three years, dating back to when this research first took place. 

Other Gold Award winners for 2023 are Natwest, HSBC, Santander and Direct Line Group. 

Based on our proprietary formula, devised specifically for this research, Insurance DataLab rated 24 providers across four key metrics – claims, complaints, customer satisfaction and transparency – using data from Consumer Intelligence, Fairer Finance, Insurance Times and Trustpilot, as well as Insurance DataLab’s own analysis of FOS and FCA complaints data. 

This year’s analysis is also the first to include details of firms’ claims acceptance rates from the FCA’s Value Measures, which is now available on our market intelligence platform

The research found that overall customer experience has declined over the last 12 months, with the average CX Rating falling one percentage point to 68%. 

This means that table-topping NFU Mutual outperformed the market average by nine percentage points, driven by a particularly strong customer satisfaction score of 80% – the highest in this analysis. 

Worryingly for the industry, the only pillar to receive a higher average score this year compared to last year is transparency, which rose five percentage points to 71% for the 24 companies in this analysis. 

Despite these headline findings, the companies that have picked up CX Gold Awards have all demonstrated exceptional performance across each key metric, demonstrating that they put the customer at the heart of what they do. 

Meet the best providers for customer experience 

  • NFU Mutual – 78% 
  • Covéa – 77% 
  • Natwest – 75% 
  • HSBC – 75% 
  • Santander – 73% 
  • Direct Line Group – 71%

If you are one of this year’s Gold Award winners and would like to use this independent endorsement, contact Dan King at Insurance DataLab. 

Further insights on how the market has performed is available in the 2023 edition of the Insurance DataLab Customer Experience Report, which can be downloaded for free here. 

Insurance DataLab also offers tailored benchmarking reports to compare the performance of individual companies across the four pillars that make up the overall Insurance DataLab CX Rating. You can request further details here. 

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© Insurance DataLab 2023. Insurance DataLab is owned and operated by MAD Financial Media Limited, registered in England and Wales under company number 12418752.
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