J.D. Power’s latest study on small commercial insurance had Allstate finishing 2nd out of 14 national insurance companies. One of the drivers of the high score was the multi-channel approach. Commercial insurance customers want to be able to interact with an agent in person and over the phone, have mobile apps, websites, and interactions via email and text message. In general, large businesses are happier with their insurance when compared to smaller businesses. (They include both micro businesses with fewer than 5 employees and smaller-size businesses with 5-10 employees into the small business category). This is probably because a large business like a car dealership that is spending $10,000 a year or more on insurance is going to get a much different level of involvement than a wedding photographer that might be spending around $500 per year.
There were quite several big name companies that fell below the industry average, including Zurich, American Family, Liberty Mutual, The Hartford, Nationwide, Travelers, and CNA. Some of the carriers aren’t really focused on commercial insurance while others focus on larger companies and aren’t strong with small businesses.