The Chartered Insurance Institute has recorded consumer satisfaction with insurance at 84% in Q4 2024, down from the 86% achieved a year earlier. It found that just 14% were extremely satisfied with insurance, the lowest level reported since the professional body started collecting the data in 2019.

The CII found there were five steps carriers could take to improve consumer perception. They were: offering discounts for customers who stay with the same company; recognising customer loyalty at renewal after a claim; ensuring premiums do not increase simply because a customer is no longer new; handling complaints in a professional and fair manner; and providing additional benefits at renewal, such as enhanced coverage.

Dr Matt Connell (pictured), group policy and public affairs director at the CII, said: “The latest results of our Public Trust Index suggest there have been some improvements, but consumers continue to feel insurers could do better. It is apparent that insurers cannot allow customer service to be a poor relation in their operations.”

He added: “There is still a strong perception that insurers are not always pricing fairly.”