Beazley has been named the top-performing insurer in Insurance DataLab’s inaugural Commercial Lines Claims Pulse, conducted in partnership with Research in Finance, achieving the highest overall broker satisfaction score and securing a Commercial Lines Claims Gold Award.
The results of the survey will form a core part of the new Insurer Performance Index, available to subscribers of our intelligence platform via an at-a-glance scorecard, alongisde underlying data across claims, complaints, solvency and underwriting.
Full analysis of the findings will also feature in our inaugural Insurer Performance and Conduct Report, created in partnership with BIBA and sponsored by SSP, which is set to be launched at this year’s BIBA Conference – copies will be available from stand G65. You can also register here to receive a free digital copy as soon as it is published.
Beazley is joined by Travelers, Allianz, AIG, Hiscox and Markel, all of whom have been recognised as top performers based on broker feedback across more than 800 commercial lines claims experiences.
Meet the Claims Gold Award winners
- Beazley – 92%
- Travelers – 91%
- Allianz – 87%
- AIG – 83%
- Hiscox – 83%
- Markel – 83%
Beazley leads the rankings with an overall satisfaction score of 92%, underpinned by consistently strong performance across all three pillars of the claims journey – initial response, claims handling and customer outcomes.
Brokers rated Beazley the top performer for delivering good customer outcomes – with a satisfaction score of 84% under this pillar, driven by a market leading level of satisfaction for its speed of settlement decision.
Indeed, one respondent described Beazley’s speed of settlement as “excellent”, commenting on how the client even recommended the insurer to other businesses as a result.
Beazley was also the second-highest rated insurer for its initial response to a claim with a satisfaction score of 86%, and its overall claims handling (84%).
Claims performance drives placement decisions
The Commercial Lines Claims Pulse provides a detailed view of how insurers perform at the point of claim – the moment that matters most for brokers and their clients.
The findings highlight a clear link between claims experience and future placement decisions.
Brokers who reported a positive claims experience were almost 10 times more likely to place business with the same insurer again, while poor experiences had a direct impact on trust and future placement behaviour.
This reinforces the growing importance of claims performance as a key differentiator in the market.
While many insurers are able to deliver strong outcomes in parts of the claims journey, the highest-performing firms are those that combine speed of response, effective claims handling and positive customer outcomes consistently.
Full results, including detailed breakdowns of performance across each stage of the claims journey, are available on Insurance DataLab’s benchmarking platform and in the inaugural Insurer Performance & Conduct Report, created in partnership with BIBA and sponsored by SSP.
Copies of the report will be available from the Insurance DataLab stand (G65) at the BIBA Conference, where Matt and Dan will also be on hand to discuss the findings.
Click here to arrange a time to meet Matt or Dan at BIBA or to find out more.
If you are one of this year’s Gold Award winners and would like a license to use this independent endorsement, contact Dan King at dan@insurancedatalab.com.