insurance customer satisfaction survey switzerland 2024
Insurance News

Swiss Insurance Customer Satisfaction 2024

May 21, 2024 - Benjamin Manz

Independent online comparison service moneyland.ch conducted a survey of customer satisfaction with Swiss insurance companies. Customers in French-speaking Switzerland are less satisfied than those in German-speaking Switzerland. Customers are most satisfied with the friendliness of employees and least satisfied with the costs and insurance premiums.

Customer migration between insurance companies is relatively low in Switzerland. But does that mean customers are satisfied with their insurance providers? To find out, moneyland.ch carried out an online survey of customer satisfaction based on certain criteria.

These criteria were accounted for: Friendliness of employees, consultation, general customer service, mobile apps, costs and insurance premiums, value for money, and overall satisfaction. Additionally, participants also rated their overall satisfaction with these specific insurance types: Car insurance, personal liability insurance, household insurance, life insurance, travel insurance, legal insurance, and cyber insurance.

The 1500 survey participants rated their satisfaction with their current insurance providers on a scale of 1 (not at all satisfied) to 10 (completely satisfied).

The results show that consumers are generally satisfied with Swiss insurance providers. But there are notable differences between insurance providers, individual criteria, and insurance types. “Swiss consumers are most satisfied with their household and personal liability insurances, and lease satisfied with life insurance,” observes moneyland.ch CEO Benjamin Manz.

Lowest satisfaction ratings for costs and premiums

The friendliness of the employees of insurance companies received an average rating of 8.1 out of 10 points (very good). General customer service received a rating of 7.9 points (good), followed by consultation and overall satisfaction with 7.8 points each. Value for money and mobile apps came in next at 7.5 points. The lowest rating (7.3 points, on average) went to costs and insurance premiums.

Lower customer satisfaction in French-speaking Switzerland

As is the case with health insurance, residents of French-speaking Switzerland are less satisfied with their insurance providers than residents of German-speaking regions. The average rating for overall satisfaction is 7.5 out of 10 points in the Romandie, and 7.9 points in German-speaking Switzerland. Costs and insurance premiums received a 6.8-point rating in the Romandie, compared to 7.5 points in German-speaking Switzerland. By contrast, differences between urban and rural residents are negligible.

Differences between age groups and genders

There are no major differences in customer satisfaction between different age groups (health insurance is an exception, and was covered by a separate moneyland.ch survey in April 2024). The oldest age group (age 50 to 75) is slightly more satisfied, with overall satisfaction receiving an average rating of 7.9 out of 10 points. The average ratings from the youngest age group (18 to 25) and the middle age group (26 to 49) are both 7.6 points.

Women are slightly less satisfied with Swiss insurance providers than men, with an average overall satisfaction rating of 7.7 points, compared to 7.8 out of 10 points among male participants.

The insurance providers with the highest customers satisfaction ratings

Among other things, moneyland.ch inquired about overall satisfaction with individual insurance providers (get the detailed PDF here). These insurance providers received the highest average ratings: Smile leads with 8.4 out of 10 points, followed by Mobiliar with 8.3 out of 10 points. Next in line are TCS with 8.2 points, followed by Vaudoise, Baloise, and Allianz with 7.8 points each.

Die Mobiliar and Smile both received the highest ratings for consultation (8.3 points each), followed by Zurich with 7.9 points, and Baloise and TCS with 7.8 points each.

Differences between insurance types

Household and personal liability insurance received the highest satisfaction ratings, both with 8.1 out of 10 points (very good). They are followed by travel insurance, legal insurance, and car insurance (7.8 points each). Cyber insurance is next in line with 7.7 points. Life insurance received the lowest customer satisfaction rating, with 7.6 points (get the detailed PDF here).

Car insurance providers with the highest customer satisfaction

Participants gave their car insurance providers 7.8 out of 10 points, on average, which translates into a good rating.

Smile’s car insurance received the highest ratings, with 8.4 out of 10 points. The runners up are TCS and Zurich (8.2 points each), Baloise (8.1 points), Generali, and Allianz (8 points each). All of these translate into a very good rating.

Mobiliar, Vaudoise, and Axa all received “good” ratings, with 7.9 points each. Helvetia received 7.8 points (a “good” rating).

Household insurance providers with the highest customer satisfaction

The average customer satisfaction rating for household insurance is 8.1 out of 10 points, which translates into a “very good” rating.

Smile’s household insurance received the highest ratings, with 8.6 out of 10 points, followed by Mobiliar with 8.5 points, Allianz and Zurich with 8.2 points each, Vaudoise with 8.1 points, and Helvetia, Baloise, and Axa with 8 points each. All of these translate into a very good rating. Elvia is next in line, with 7.8 points.

Personal liability insurance providers with the highest customer satisfaction

Customer satisfaction ratings for personal liability insurance are very similar to those of household insurance. That is not surprising, because these two insurance types are often sold as a bundled package. Customers gave their personal liability insurance providers an average rating of 8.1 out of 10 points.

Smile’s personal liability insurance received the highest rating, with 8.5 out of 10 points. It is followed by Mobiliar with 8.4 points, Allianz with 8.2 points, and Vaudoise and Zurich with 8.1. points each. Axa, Helvetia, and Elvia come next with 8 points each. All of these ratings qualify as very good ratings. CSS and Generali both achieved good ratings, with 7.7 points each.

Travel insurance providers with the highest customer satisfaction

Baloise and TCS received the highest customer satisfaction ratings for travel insurance, with 8.4 out of 10 points. That translates into a “very good” rating.

They are followed by Generali, Mobilia, and Zurich, with 7.9 points each. Allianz, Axa, and Helvetia follow, with 7.8 points each. Next in line is CSS, with 7.7 points. All of these translate into “good” ratings.

On average, survey participants gave their travel insurance providers 7.8 out of 10 points – a “good” rating.

Legal insurance providers with the highest customer satisfaction

TCS legal insurance customers are the most satisfied, with a rating of 8.6 out of 10 points. Coop Rechtschutz (8.3 points) and Generali (8.2 points) come next. All of these insurers received a “very good” customer satisfaction rating for legal insurance.

Next in line are Protekta (7.9 points), Cap (7.8 points), Baloise (7.7 points), Axa, and Groupe Mutuel (7.6 points each). All of these translate into “good” ratings.

The average customer satisfaction rating for legal insurance across all providers is 7.8 out of 10 points – which falls into the “good” rating tier.

Cyber insurance providers with the highest customer satisfaction

Cyber insurance from Baloise got the highest ratings (8.1 out of 10 points), followed by Generali and TCS (7.9 points each), Mobiliar (7.8 points), Groupe Mutuel (7.7 points), as well as Allianz and Zurich (7.6 points each).

Across all cyber insurance providers, the average customer satisfaction rating from survey participants is 7.7 out of 10 points – a “good” rating.

Life insurance providers with the highest customer satisfaction

The average customer satisfaction rating for life insurance providers is just 7.6 out of 10 points. That is the lowest ratings across all insurance types. Quite likely, that is at least partially due to the confusion surrounding cash value life insurance products, which often results in problems for customers.

Life insurance from Swiss Life received the highest customer satisfaction ratings, with 7.9 out of 10 points. It is followed by Baloise, Mobiliar, and Zurich (7.8 points each), Axa (7.5 points), Allianz (7.4 points), and Helvetia (7.3 points).

Methodology

The study is based on a representative online survey performed by market research institute Ipsos on behalf of moneyland.ch in the spring of 2024. A total of 1500 residents of both French-speaking and German-speaking Switzerland between the ages of 18 and 74 were surveyed to determine their satisfaction with their insurance providers.

Participants rated these individual criteria separately: Friendliness of employees; consultation; general customer service; mobile apps; costs and insurance premiums; value for money; overall satisfaction.

Additionally, participants were also surveyed about their satisfaction with these insurance types: Car insurance; personal liability insurance; household insurance; life insurance; travel insurance; legal insurance; cyber insurance.

The 1500 participants rated their satisfaction with their existing insurers on a scale of 1 (not at all satisfied) to 10 (completely satisfied). Participants could also abstain.

More on this topic:
Swiss health insurance customer satisfaction survey
Swiss insurance customer satisfaction survey (detailed results in PDF format)
Swiss customer satisfaction with individual insurance types (detailed results in PDF format)

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Expert Benjamin Manz
Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.
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