New Delhi: Launched in 2017, InsuranceDekho.com an insurtech startup, has achieved the Net Promoter Score (NPS) of above 90%, driven by rapid growth in a short time.
The Net Promoter Score (NPS) is customer satisfaction and service quality metric, based on a single survey question that asks insurance customers how likely they are to recommend the company to a friend or colleague. The Net Promoter Score (NPS) is a popular benchmark across industries with the single aim of checking if the customers like the service provided or not. The NPS score of 90% is a hard thing to reach and it’s very rare to find in the service Industry. Talking about other industries- digital marketing agencies stand at 57%, Consulting firms stand at 62% which seems to be the highest after InsuranceDekho’s 90%.*
The team of InsuranceDekho manages five tickets/person to ensure the quality of claim service and to render a positive claim settlement experience to the customer.
Having an NPS of more than 90% is rare in the service industry and maintaining it throughout the business growth reflects the dedication of InsuranceDekho towards complete customer satisfaction.
The overall average claim settlement turnaround time (TAT) of InsuranceDekho is seven days but this also includes major claim amount cases whose TATs are generally high as compared to minor claims. For ease of claim settlement, InsuranceDekho has 7 persons who manage 35-40 calls/tickets per day. The Inbound team of the company set the system in a way that can resolve the query/claims of customers within four hours. More than 90% of same-day closures strengthen the NPS of the company.
Ankit Agrawal, CEO and Founder of InsuranceDekho, said: “Having a high NPS reflects our commitment towards our customers. We strive to improve the overall communication with our customers and assist them in every possible manner. They have reciprocated by staying loyal.”
According to sources, the company has a sound relationship with all the Insurers and conducts regular meetings to honour exceptional deviations to manage more than 90% of tickets resolution within SLA.
What InsuranceDekho is offering to maintain more than 90% NPS?
- The cashless facility at preferred garage/hospitals
- Timely claim intimation
- Timely approvals
- Free pick-ups & drops at preferred garages
- 3-day cashless repair & delivery facility for minor repair only claims of up to 3 panels
- Faster settlement of claims
- Home collection of documents in metro cities for health claims
- Dedicated SPOC at preferred hospitals/garages
- Competitive resolution TAT (j) 10K claims cases handled so far
During the pandemic, the company came out with a COVID-19 Helpline to ensure that customers were not inconvenienced, and their needs were promptly addressed.
Ankit Aggarwal further added, “Apart from the claim and support team of InsuranceDekho, I give credit to the immense support we have received from all stakeholders and insurers. With their support, it is easy to deal with the different queries of customers and to offer timely resolutions.”
InsuranceDekho reported this NPS with a timely survey with its customers. The NPS has two parts: a brief survey asking customers how likely they are to recommend a business, and an overall score of the responses. It was created because businesses needed an easy and effective way of gathering and evaluating feedback from their customers. With this score, most people are more likely to recommend the company to others as they are happy with its service. According to recent data, 61.9% of people are more likely to recommend a policy to their family and friends as they are happy with the responses and the coverages.
Launched in 2017, InsuranceDekho is an Insurtech startup by Girnar Insurance Brokers Private Limited. It enables its consumers to compare different insurance policies based on their requirements and offer them the best choices available as per their needs. In FY 2021, InsuranceDekho sourced 1 Million+ policies. The company currently has tie-ups with 40+ insurance companies and is expecting a business growth of over 3X in FY 2022. InsuranceDekho is headquartered in Jaipur and has offices in Gurgaon, Pune, Chandigarh, Ludhiana, Jaipur, Kolkata, Chennai, and Bengaluru as well as an offline presence in 1,100+ towns
(Source: Question Pro- https://www.questionpro.com/blog/nps-benchmarks/)