Photo: Unsplash/ Rupixen
Insurance companies FMG and MAS (Medical Assurance Society) have once again topped the list in Consumer NZ's annual insurance satisfaction survey for car, house and contents insurance.
More than 6400 people responded to the online survey conducted in October 2024, including Consumer NZ members, supporters, and a nationally representative sample of over 1500 New Zealanders.
MAS had the highest overall satisfaction for house insurance with a rating of 76 percent, and FMG ranked highest for contents insurance at 78 percent.
Both providers also took out the top spots for car insurance, with MAS at 81 percent and FMG at 79 percent.
It is the eighth consecutive year FMG has earned the Consumer's People's Choice award and the ninth consecutive year MAS has won the award.
Consumer NZ chief executive Jon Duffy said the fact that the two providers have won the People's Choice across multiple insurance categories reflects their continued focus on customer satisfaction.
State and AMI insurance (both owned by IAG New Zealand) have both scored below average for house and contents insurance and significantly lower-than-average ratings for value for money and customer support.
Both companies also scored significantly below-average ratings for value for money, communication, customer support, and tailored advice.
"It's disappointing to see major insurers fall short of the industry average. We'd like to see these big names use their market share to improve customer satisfaction," said Duffy.
When asked for IAG's thoughts on both State and AMI insurance's poor results from the survey, IAG's executive general manager for consumer brands, Paula ter Brake, said it regularly talks to customers to understand their experiences.
"We listen, learn, and make changes based on what they tell us," she said.
"We are committed to putting our customers at the centre of everything we do, and we are confident that our transformation journey, that is well underway, will continue to exceed the expectations of our customers," she added.
Meanwhile, the four big banks - ANZ, BNZ, Westpac and ASB - all received below-average ratings for car, house and content insurance.
ASB came last for car insurance.
However, the four banks scored higher for travel insurance - which Consumer NZ said could be due to it being offered free through some credit cards.
RNZ has approached all parties for comment, including FMG, MAS, IAG New Zealand, ANZ, BNZ, Westpac and ASB.
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