DALBAR recently reviewed the websites of term life insurance providers and recognized those firms that offer prospective and existing policyholders an online environment that represents a superior standard of customer care.
Five term life insurance providers rose above the rest: Nationwide, AIG Direct, Prudential, Thrivent and Lincoln Financial Group.
Due in part to its comprehensive mix of Functionality and Behavior Centric features, Nationwide took home the No.1 overall ranking. Also offering a unique selection of tools that assist prospective term life policyholders in identifying their specific insurance needs, the firm led the rest of the pack by a significant margin on the way to earning the top spot.
“Our success comes from making it easy for customers to navigate the life insurance buying process in a fully digital world,” said Holly Snyder, president of Nationwide’s life insurance business. “We provide information to our customers to help them make decisions on what coverage may fit their needs, along with providing them the ability to quote and apply all online.”
Coming in at No. 2, AIG Direct reflects on a myriad of life insurance topics to support those who may be unfamiliar with the features and functionality of term life insurance. The firm also provides additional support via checklists that help prospects determine if they are adequately prepared to begin the application process.
Prudential, who ranked third, shares a wealth of information regarding various life insurance products, much of which is decorated with visually appealing graphics and charts. The ability to generate a quote is always nearby, giving prospects an easy route to begin doing business with Prudential.
Using layman’s terms and straightforward illustrations, No. 4-ranked Thrivent deftly explains the process of converting from a term life insurance policy to a permanent or blended policy.
Ranking fifth overall and second in “Usability,” Lincoln Financial‘s highly intuitive navigational structure seamlessly guides users to popular areas of the site, including detailed policy information and educational resources that are often interactive and multimedia-based.
DALBAR’s Trends and Best Practices: Term Life Web study audited the online experiences of 19 insurance providers, ranking each based on range of functionality, quality of the experience and online support availability.
AIG and Nationwide also recently earned DALBAR’s Customer Experience Excellence Award, which recognizes those companies who are able to consistently provide a best-in-class experience across the channels that make up the vast majority of customer interactions: telephone, web and mobile. It was the second year in a row of being honored for both companies.
“DALBAR holds companies to stringent quality standards. To exceed our award levels in a single channel is a huge accomplishment, but to do so across the channels that make up the overwhelming majority of customer interactions is something else entirely; it is truly remarkable,” said DALBAR Director Brendan Yeager. “This accomplishment not only speaks to AIG Life & Retirement and Nationwide’s deep commitment to the customer experience, it also reflects their ability to execute flawlessly. These companies are really delivering on the promise of a superior standard of care, regardless of how their customers choose to interact.”
Marlborough, Mass.-based DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service.
For more information about this study, visit DALBAR’s Intellect store.