Tessa Perry Research has been commissioned by a group of general insurers to conduct a ground-breaking study to test whether customers are being treated fairly under the requirements of the Financial Services Act.
Tessa Perry says that studies so far indicate that a majority of personal customers who hold household, motor or travel insurance, as well as commercial holders of general insurance cover, generally agree that the insurance industry is not always as fair to the consumer as they would like.
The first part of the project is now complete; focus groups and in-depth interviews have been conducted with both personal policy-holders and small businesses holders to establish their views on fairness of their insurers. Following this qualitative stage, 300 personal policyholders and 200 small business customers will be interviewed to establish how they rate their insurer. The interview will be conducted both by telephone and online and the results are expected to provide an important benchmark for the general insurance industry, identifying where the industry is weak in the eyes of the customer and establishing the priorities for improvement.
Seven companies, members of GIMRA (the General Insurance Market Research Association) have joined forces to set up this innovative project. The companies concerned are Allianz Cornhill, AXA, Ecclesiastical, Groupama, Royal and Sun Alliance, UKI Partnerships and Zurich.
Tessa Perry set up her freelance market research consultancy, Tessa Perry Research, in 2003 and now, with the business is in its third year; her investment in developing client relationships is really bearing fruit. “It’s been hard work and I’m delighted that it’s now paying off”
Areas of research to date have included
Branch employee attitudes to the insurance sales process
Competitor profiling of insurers and products
Corporate key customer satisfaction
Evaluation of the reasons behind insurance cancellations
Insurance brand extension opportunities
Insurance company compliance with FSA regulations
Mystery shopping
Treating Customers Fairly under the Financial Services Act
Website usability
Clients to date include abbey, AIG, Hospital Plan Insurance Services, Lloyds TSB, Saga Services and MPCI insurance benchmarking.
Tessa Perry has specialised in financial services research as a result of her extensive experience in that particular industry. Having been in senior management at Lloyds TSB for some years, she went solo with some trepidation but has never looked back. Working from her picturesque home in Wales and inspired by the view from her window she was soon welcoming her first clients and as a result of this early rapid success she was soon obliged to subcontract work.
This success led to Tessa Perry Research being put forward for the Prime Cymru - Merlin Awards; she gained a ‘Highly Commended’ accolade in the award scheme’s category for Consultancy Services sponsored by the Federation of Small Businesses in February 2004.
Although Tessa has specialised to date in working in the field of financial services, her expertise is applicable to many industries. Customer satisfaction is an area that many companies would like to understand measure and improve and with her proven success in this area, she can show how careful and thorough research can deliver both customer satisfaction and loyalty.
Tessa Perry Research works closely with clients to deliver their research requirements at each stage of its operation, whether its project set up, project management or action on findings. At each point, advice and practical help is provided to best meet the needs of the individual client and his project.
This flexible approach embraces
Full service, including questionnaire, fieldwork, analysis, presentation, supporting implementation of recommendations
“Tessa Perry Research provided us with excellent value and very high quality. Results were clearly and professionally delivered, all issues managed and first class service delivered throughout a lengthy complex project.” Carl Wong Research Manager, Royal & Sun Alliance
