How do Policyholders Rate Beacon Mutal? Results are In!
May 25, 2022 Corporate News

Workers' Comp Customer Experience Survey Results Are In

At Beacon Mutual, we understand that customer experience is one of the main reasons our customers stay with us. In fact, as we celebrate our 30th Anniversary, we are especially proud that almost 600 companies have had continuous policies with Beacon Mutual since 1992!

Why does customer experience matter to us? A positive customer experience helps a business retain customers, but it also promotes loyalty and encourages satisfied customers to share their experiences with others. That's why for the last 2 years, we have invested heavily in understanding what it's like for our policyholders to do business with us, and we have listened to what they have to say.

Each quarter Beacon sends out a customer experience survey to a sample of our policyholders and they are asked to rate their satisfaction with their overall Beacon workers' compensation insurance experience, and with their personal experience across all of the services provided by Beacon. They are also asked to share their likelihood of recommending us to family/colleagues and their likelihood of doing business with us in the future. Results are in and it is great news! Beacon policyholders are satisfied! This article will delve into the latest survey results. 

 

Our Policyholders Recommend Us

Did you know that the Net Promoter Score (NPS) is the gold standard of customer experience? Beacon Mutual is in the 94th percentile of the insurance industry. The national average for insurance is 0-30, BUT Beacon's policyholders give us a 63.3!  NPS describes how likely it is that a customer would recommend us to a friend or colleague. This is a key metric for Beacon to measure because we know that RI businesses truly value recommendations from those they trust. 

Net Promoter Score (NPS) (1)

Our Policyholders are Satisfied 

At Beacon, we use the Customer Satisfaction Score (CSAT) to measure the total satisfaction of each policyholder over the course of one year. This helps us to understand what went well, and if there are any areas for improvement across their entire Beacon Mutual journey. Based on the survey results that we collected from over 1,000 policyholders representing 15 industries in our state, we have learned that the majority of respondents are extremely satisfied. In fact, 89% of Beacon Mutual policyholders are satisfied or extremely satisfied! This is above the 80% national Customer Satisfaction (CSAT) score. It is also worth noting that according to the American Customer Satisfaction Index, Beacon is significantly higher than the big national carriers. 

It's Easy to Do Business With Us

Customer Effort Score (CES) describes how easy or difficult it is to do business with us. Customer expectations are changing rapidly and we know that people make buying decisions based on this important experience factor. The good news is that when asked about several different processes including loss prevention, claims, premium audit, and accessing our online secure portal,  9 out of 10 Beacon Mutual policyholders said it is easy to do business with us. Additionally, 94% of Beacon policyholders would consider doing business with us in the future and renew their policy.


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What Beacon Policyholders Think ... In Their Own Words

Through the customer experience program at Beacon, we are so pleased to have the opportunity to hear the voice of our customers. It is vital to have an understanding of what it is like for them as a policyholder no matter how large or small their business is. Here are some recent testimonials from real policyholders over the last year: 

  • "I have an excellent relationship with Beacon Mutual and would like other companies, especially small companies, to experience the same." ~ Patricia Parent, Mold Med LLC

  • "I like the accessibility of the Beacon safety information & training." ~ David Wyman, Wyman & Sons Electric 
  • “I most recently did a presentation regarding our company's WC process. When I introduced Beacon Mutual for our WC insurance policy, I explained that the phrase that comes to mind when I think of Beacon Mutual is "ease of use" the process is seamless, efficient, and highly effective to provide the insured worker with the information needed to seek treatment - all in real-time. Other insurance companies that we have done business with have antiquated processes and it takes too long to get the information needed. Working with Beacon Mutual is a partnership!”​​​​​​​ ~ Stephanie Senerchia, Arnold Lumber Co  

    Customer Satisfaction Word Cloud
  • “I do not need to think about my Worker's Compensation Insurance; so I am happy.” ​​​​​​​~ Michael Goldberg, M Goldberg Law LLC 
  • “Been with Beacon since we switched from Liberty over 20 years ago. Whenever an incident occurred it was handled properly and professionally.” ~ Shirley Peters, Devaney Tire Inc. 

  • “The extra services that Beacon offers as well as the premium audit experience is far and away better than services that our other workers’ comp provider offered.” ​​​​​​​~ Donna Prout, Ahlborg Construction Corporation 

  • “Beacon's loss prevention services are integral in supporting our safety efforts at Bryant and one of the main reasons we continue to stay with Beacon each renewal year. Kurt Bodziony has provided a high level of continuous ergonomic service to Bryant University.” ~ Bill Thomas, Bryant University 

Download your printable version of our customer experience data and survey results summary:

Download the CX Report

 

Learn if Beacon Mutual Could Be Right For Your Business

For 30 years, Beacon Mutual has been the premier local workers’ comp insurer of RI businesses, but don't take our word for it. The survey results don't lie. Close to 600 policyholders trusted Beacon to protect their business and employees continuously since 1992 so we must be doing something right!

Learn if partnering with Beacon Mutual could be right for your business. Find Your Industry.

 

Beacon Mutual
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Beacon Mutual

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