Ipsos CSI Insurance 2024 Reveals Customer Satisfaction Growth and a Demand for Personalization

Toronto, ON (February 13, 2025) – The latest Canadian Satisfaction Index (CSI) Insurance report from Ipsos reveals a notable increase in customer satisfaction and evolving expectations within Canada's insurance sector. This comprehensive study highlights customer experiences, preferences, and satisfaction across various policy categories, interaction channels, and insurance brands. The importance of personalized advice and proactive communication is rising, alongside more traditional factors of pricing and tenure with provider, which remain crucial when purchasing or renewing a policy.

The industry's overall Net Promoter Score (NPS®) improved to -5 in 2024 from -8 in 2023, indicating a heightened willingness to recommend insurers. Despite this positive trend reflecting recent initiatives among insurers, the negative score highlights the ongoing need to strengthen customer relationships. CAA Insurance leads in NPS®, followed by The Co-operators, when looking at the combined market score across all policy types measured in the survey. Regional differences persist, with lower satisfaction levels in Western Canada compared to Eastern Canada, and newer customers (0-5 years tenure) reporting reduced satisfaction levels. When comparing policy types on a market level, group benefits and health/dental policies have the lowest NPS® scores, possibly due to their claims intensive nature, while travel and home insurance policies score the highest.

When it comes to driving a sense of value, customers are looking for rewards and discounts, policy transparency, efficient service delivery and responsiveness to their concerns, with personalized service standing out as a critical differentiator.

Ipsos assesses customer experience in this study through three key dimensions: 'Ease,' 'Effectiveness,' and 'Emotion.' While there are improvements in Ease regarding business transactions and claims processing, positively affecting the Net Promoter Score (NPS®), there remains an opportunity to enhance the clarity of advice and policy explanations. In terms of channel service satisfaction, there has been significant growth in mobile app satisfaction among insurance members, surpassing website experiences, suggesting that the market is responding to all the investment on that front. Effectiveness is characterized by reliability and the ability to meet customer needs, with further opportunities to offer better value for money and more insightful advice. As 2025 unfolds with its own set of challenges, fostering emotional connections becomes crucial for thriving in a volatile environment. Emotional aspects such as trust, safety, and fair treatment are viewed positively in the market; however, insurers should focus on fostering customer appreciation and building brand pride to strengthen these connections. Being present for customers during critical moments (such as claims), helping them save on their policies with creative offers and tips, and equipping employees with the necessary tools to better understand their customers will pave the way for stronger bonds.

In the era of AI, only a quarter of customers strongly agree that their provider uses advanced technology like AI or chatbots for quick and accurate quotes. Vik Sood, EVP Customer Experience at Ipsos in Canada, stated, 'This sentiment reflects an untapped opportunity and is worth monitoring. Based on our work in this area including our partnerships with platform providers, we know that AI presents the means to enhance personalization and drive positive brand impressions in the future.'

*The CSI Insurance study encompassed Canadian policyholders with home, auto, life, health, travel, mortgage life/creditor insurance, and group benefits policies.

* Net Promoter®, NPS®®, NPS® Prism®, and the NPS®-related emoticons are registered trademarks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld. Net Promoter ScoreSM and Net Promoter SystemSM are service marks of Bain & Company, Inc., NICE Systems, Inc., and Fred Reichheld.

About the study:

Ipsos' CSI Insurance tracker, now in its 14^th wave, continues to provide a comprehensive analysis of the Canadian insurance market, across 40+ insurance brands. The results are based on an Ipsos survey conducted in 3 periods across every calendar year. A total sample of 18,000 Canadians aged 18+ were interviewed online in 2024. Quotas were used to ensure that the sample’s composition reflects that of the Canadian population according to census parameters. Margin of error on total sample does not exceed 2% +/- at 95% confidence intervals, however varies by brand sample size. 

For additional information or to subscribe to the tracking study, contact: 

Mariam Nabilsi  / [email protected]

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