June 3, 2022: The Linz Market Institute has published its annual “market test for insurance companies”. The study aims to reflect the assessment of the most important performance parameters, the future viability and the social and ecological commitment of the insurers by the Austrians. Like the previous year, the winner was Uniqa, followed by Wiener Städtische and Generali.
The Linzer Marktforschungs-Ges.mbH & Co. KG market has reissued its “Market Test Insurance”.
To do this, 1,000 people were questioned in online interviews as part of the “Market Panel” in March this year; According to the institute, the sample is representative of the Austrian population aged 16 and over.
A total of 34 insurance providers were surveyed again. To enter the ranking, 60 entries per company were necessary; 31 of the brands surveyed met this criteria. Kärntner, Vorarlberger Landesversicherung and FWU Life Austria were not evaluated.
Detailed evaluations were carried out on the basis of at least five percent supported awareness.
Uniqa overall winner again
As in previous years (VersicherungsJournal April 30, 2021), the overall winner was Uniqa Österreich Versicherungen AG; this time he achieved 322 points out of a possible 1200 point index.
On the one hand, it is striking that the distance with the companies located behind has increased compared to previous studies, but at the same time the number of points achieved has decreased significantly (2020: 396 points, 2021: 342 points).
Second and third place went to the same companies as last year, although in reverse order. Wiener Städtische Versicherung AG secured second place this time with 252 points; In 2021 he was able to achieve 265 points.
Generali Versicherung AG is close behind this year with 250 points; in the previous year he ranked second with a score of 278 points.
- Insurance market test 2022 – general results (Graph: Market).
Click the pic to enlarge.
The most important performance parameters.
The “Key Performance” category referred to how a brand performs on the most important performance parameters in terms of progress and degree of compliance. Here you could get a maximum of 500 points.
Questions were asked about spontaneous and assisted knowledge of a brand, frequency of use, advertising recall and willingness to buy, assessment of whether it is a “top brand” and assessment of price/performance.
Uniqa ranked first in this category with 161 points, followed by Generali (133 points) and Wiener Städtischer (131 points). The order in this category remained unchanged compared to the previous year.
Ready for the future?
In the “Brand Momentum” category, study participants were asked to rate whether a brand has “momentum” and momentum for future flights of fancy. A maximum of 400 points was awarded for this.
The focus was on brand likeability and loyalty, the question of how innovative a brand is rated, and the willingness to recommend it (Net Promoter Score).
Uniqa also wins in this category with 101 points. Second place goes to Generali with 74 points, third place to Wiener Städtische with 73 points. Here, too, the same companies are in the first three places as in the previous year.
Social and ecological commitment
The question of whether a company can achieve competitive advantage through social and ecological commitment was evaluated by the study participants in the category “Corporate Social Responsibility”. A maximum of 300 points could be achieved for this.
The importance of a company for Austria, its social responsibility and trust in the brand had to be assessed.
For the first time, the question of brand crisis safety was also raised; on the one hand it was about the sustainability of the brand and on the other hand it was about the “favorite insurance” of the Austrians.
Also in this category, Uniqa ranked first with 59 points. Wiener Städtische follows in second place with 48 points, Generali is in third place with 44 points. There was no change in the top three in this category compared to the previous year’s ranking.
The full study is available from the Market Institute at a price of EUR 2,990 plus VAT.