Online buyer reviews have tremendous influence over the purchasing decisions of their fellow buyers. They have become a pivotal part of the buying experience for many as well as a great resource for market research. Not only do they allow buyers to share their experiences, but they can be beneficial to providers as well.
After analysing – literally – thousands of insurance reviews, we can reveal the top five
most common reasons that buyers leave negative reviews:
The ‘Loyalty Penalty,’ which is a result of the growth and encouragement of shopping around for insurance, has tended to give new buyers the better deal over buyers that have remained loyal. A balanced approach is vital to ensure that action is taken against the issue of excessive pricing and the subsequent "loyalty penalty".
Being able to communicate clearly and effectively is key to building buyer relationships. Having good communication creates transparency, trust, and a strong understanding of buyer expectations and requirements.
Additional fees and admin charges can sometimes come as a surprise to buyers. Make sure these charges are carefully explained up-front and ahead of time, ensuring information is clearly visible and easily accessible.
Buyers don’t want to jump through hoops to speak to support. Make sure you are prepared for when issues do occur and that you are easily contactable through a number of platforms, be it a call centre, online chat, or a phone line. Communication is key.
A delay in the claims process is frustrating for buyers. Be sure to keep in contact throughout the process while making all the necessary information available where possible, on both sides of the claim. Buyers value providers that do right by them.
Read: How to leave a review on Worry+Peace