How to Win the Hearts of Insurance Customers

Kin Insurance
Jan 13, 2020 · 4 min read

Insurance reviews tell us a lot about a company: how satisfied customers are with their experience, what issues cropped up (if any), and how the insurer handles those issues.

That explains why 61 percent of customers say reviews are influential when choosing a new provider. These reviews are social proof that an insurance company is following through with their promises.

But what makes for a great experience? For that, let’s take a look at some industry benchmarks and see how Kin’s reviews compare to our peers.

Customer Satisfaction with the Insurance Industry at a Glance

According to the J.D. Power 2019 US Home Insurance Study, 74 percent of customers believe the home insurance industry needs improvement. Thirteen percent go so far as to say it needs radical improvement.

That dissatisfaction might explain why the average Net Promoter Score — that is, a customer’s willingness to recommend a business to their friend — for the home insurance industry is a meager 35 out of 100.

But the good news is dissatisfaction breeds change. We got into the home insurance business precisely to bring the sweeping changes customers have been asking for.

And that’s also why our NPS is 84 — miles above the industry average. It’s also why our customers are eager to share their experience in customer reviews. See for yourself.

How We Stack Up to Our Competitors

Here’s a snapshot of our reviews compared to our insurtech peers and fellow Florida home insurance carriers.

While insurance providers might have different preferences for third-party review sites, we included these three platforms based on credibility and popularity. After all, nearly 64 percent of consumers check Google reviews before visiting any type of business.

Customer review comparison chart for Kin Insurance, Lemonade, Hippo, Tower Hill, and others.

What We Do Differently

Keeping customers happy enough to leave rave reviews isn’t rocket science. Any insurance company, new or incumbent, can dazzle customers with a great experience. We focus on three core elements:

  1. Create a product so good it scares your competition. Your insurance product should be high quality, competitively priced, and easy to use. Bonus points if you’re actively working to bring insurance into the 21st century and tailor it to the needs of the modern homeowner, like offering affordable flood insurance, discounts for smart safety systems and devices, or a mobile home product that actually allows homeowners to replace their homes after a disaster.
  2. Provide excellent customer service from start to finish. No matter how good your product is, it won’t make the cut without stellar service. It’s one thing to wow a brand-new customer. It’s another to keep exceeding their expectations year after year — which is why we check in with our customers to see how they’re doing throughout the year, not just when they’ve filed a claim. That said, claims are a real opportunity to shine. Our survey found more than a third of respondents said their claims experience with other insurance companies was stressful. What is your company doing to mitigate that stress? We leverage aerial technology and virtual inspections to simplify the process and settle claims quickly. We even proactively reach out to customers after a disaster to make sure they’re safe.
  3. Educate current and future customers. One of our aims is to simplify homeowners insurance so it’s easy to understand and easy to use. That’s why folks can ask us questions anywhere: on our website, on the phone, via email, or on our social media channels. We regularly update our blog, FAQs, and glossary based on real customer questions and feedback to help promote insurance literacy and consumer confidence. Informed customers are engaged customers, so we nurture that curiosity.

If insurance companies legitimately want to impress customers and change the industry for the better, it means never settling for good enough. Customers place their trust and lives in our care. Our service should reflect that.

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