Take a survey to rate your insurer

survey insurer ratings

Have you made a recent claim under the SA compulsory third party (CTP) scheme? The scheme regulator wants feedback from injured claimants on their insurer’s customer service. Survey results will help motorists choose an insurer when the CTP scheme goes fully competitive on 1 July 2019.

The CTP scheme currently allocates SA motorists one of four private insurers – AAMI, Allianz, QBE and SGIC. However, other insurers may enter the market from July next year.

Have your say

Injured motorists can have their say within three months of lodging a claim. The survey will ask about these aspects of the claims service they receive:

  • Responsiveness
  • Professionalism
  • Quality of communication
  • How likely they are to recommend that insurer.

This survey runs until the end of this year. It is not the first time the regulator has asked the public to contribute its views on the SA CTP Scheme. Its market research during 2017 gathered the views of 771 motorists on their knowledge of CTP insurance changes in South Australia.

Researchers asked what information would help them choose an insurer, their main reasons for changing insurers and how they would prefer to pay for CTP.

What information would help them choose an insurer?

Participants clearly preferred to receive insurer information with their registration renewal papers:

  • More than 400 wanted information with their registration renewal papers
  • 330 would use online comparison tools
  • 190 would speak directly to insurer.

Only 150 said they would favour convenience and just renew with the current insurer.

Reasons for changing insurers

On a scale of 1-10 where 1 is the most likely reason, participants clearly chose price:

  • Price – 1.7
  • Customer service rating for management of claims – 3.4
  • Special offers and inclusions – 3.7

Less important, around 5, were insurer brand, availability of information and referrals from other customers.

Preference on how CTP is paid

The majority (86%) said they would prefer to continue to pay CTP with their registration. In fact, only vehicle owners in NSW pay for their CTP separately.

When the SA CTP scheme is opened fully to competition next year, it will be interesting to see whether the views of participants are played out. People do not always do what they imagine they will do, especially if faced with possible new insurers.