alva has teamed up with Insurance Post to provide insurance sector reputation scores and analysis.
“Industry Reputation: An outsider’s view”
26th Feb 2013, Insurance Post, Jonathan Swift
In the first of a quarterly series, Alva has teamed up with Insurance Post to provide an overview of how individual firms are perceived and how the insurance market is judged as a whole.
Alva calculated the lowest and highest reputation scores in the insurance sector, identifying the key issues affecting individual firms’ reputation scores.
From 48 insurers analysed, Admiral was shown to have the lowest reputation score attributed to a number of negative issues, such as the unfavourable sentiment generated by the revelation that it penalised drivers who took speed awareness courses.
In contrast Standard Life topped the rankings thanks to a wide range of positive issues such as its market expansion into Asia and the Middle East, and signing a five–year platform distribution deal with the Royal Bank of Scotland.
Generally, the insurance sector’s sentiment was positive in Q4 2012, with rises towards the end of the year. Sector-wide positive sentiment was generated by business expansions and strategic acquisitions announced in new markets, business units sold to focus on core performance or to boost share price, and product agreements signed to meet customer needs.
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