Farmers and stockbreeders grant agricultural insurance the highest rating since 2019
Agroseguro’s General Shareholders’ Meeting approves the accounts for financial year 2023
26/03/2024
A delegation from Thailand visits Agroseguro to learn how the Spanish Combined Agricultural Insurance system operates
15/04/2024- Some 88% of policyholders confirm their intention to renew their policy, with an average score of 7.16 for agricultural insurance.
- The high satisfaction of stockbreeders and citrus fruit producers stands out, as well as the quality of the service received and the speed in which compensation is paid.
- This data comes from the Perceived Quality Index 2023 survey, from an external company specialising in market research commissioned by Agroseguro.
Some 88% of farmers and stockbreeders surveyed in the Perceived Quality Index 2023 conducted by Agroseguro confirm their intention to renew their agricultural insurance policy, one percentage point higher than that obtained in 2022 (87%).
The overall average score given by insured party producers also rose to 7.16 out of 10. This is the highest rating since 2019, and represents the fifth consecutive year of growth in the assessment of agricultural insurance.
Looking into the surveys by production type, the rating of stockbreeders stands out, both those with animal removal and destruction insurance (8.09) and those with livestock accident and disease insurance (7.57). Citrus fruit growers also score above the average, giving agricultural insurance a 7.40.
Agroseguro considers that these figures – achieved in the year with the highest claims rate for agricultural insurance – demonstrate the agricultural sector's confidence in this tool, which is vital in the current circumstances of climate change. In addition, they also reinforced the work carried out by Agroseguro, as they were very satisfied with the quality of the information provided (8.72), the telephone service received (8.35) and the speed of compensation payments (8.19). After launching a new website in 2023, the average score insured party's gave the Group's website increased by 4 tenths to an average of 7.88.
Finally, the NPS (Net Promoter Score) index reached a +23 ratio for 2023. This internationally recognised system serves as an indicator to measure customer recommendation, and identifies that results above +1 are positive, as they mean that a company has more promoter customers than detractors.
A total of 35% more producers surveyed
The survey, carried out during 2023 by an external company, includes 3,513 insured party producers of extensive arable crops, wine grapes, citrus fruits, fruit trees and vegetables, as well as stockbreeders from the various livestock lines. Due to the high rate of claims last year, Agroseguro increased the sample size of producers surveyed by 35% so as to increase the representativeness of the results. The participants in the study came from all autonomous communities. They participated in the survey after declaring the occurrence of a claim to be able to assess not only specific aspects of the insurance, such as coverage or price, but also the service received after submitting the claim report, the amount of compensation and the speed of payment.
