Saturday, September 14th, 2013

Western Australia’s businesses have the highest satisfaction with their insurance companies with 71.8% in September 2012 reporting they are satisfied with them meeting their needs, up 6.6 percentage points over the last year.

This high level of satisfaction appears to be related to the performance of local Business Insurance specialist Wesfarmers (WFI) and their role in raising the level of competition in this market. These are the latest findings from Roy Morgan Research’s Business Finance Survey to September 2012.

Although Western Australia has the highest level of business satisfaction with insurance companies and has been the clear leader since December 2011, all states have shown an improvement over the last 12 months.

Business Insurance Company Satisfaction by State

Source: Roy Morgan Research Business Survey, June 2010 – September 2012, average six month sample n = 6,757. ** 7 months to April 2011. Question: "Overall how satisfied or dissatisfied are you with the way each company is meeting the business’s insurance needs?" (5 point scale).

Norman Morris, Industry Communications Director, Roy Morgan Research, says:

“The strong performance of insurance companies in Western Australia regarding the satisfaction of their business customers appears to be the result of the consistently strong performance of WFI and the impact this is having on its competitors. This is evident by the fact that the three other major players in the WA business insurance market – CGU, QBE and Allianz – have all shown improvement in satisfaction and have closed the gap on WFI. It is worth noting that WFI is currently the holder of the Roy Morgan Research Business Insurer of the Year for 2011.”

For comments or more information please contact:

Norman Morris, Industry Communications Director

Telephone: +61 (3) 9224 5172

Mobile: +61 402 014 474

Email: [email protected]

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Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
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