Financial Literacy

Here are the insurance brands Canadians trust the most

By: Jessica Mach on August 21, 2019

When it comes to building brand loyalty, there’s a certain cocktail of qualities that will get you further than others.

Customers are more likely to return to brands that hold strong company values, demonstrate innovation and are highly recommended by others, according to a recent survey by market research company BrandSpark International.

And in the competitive world of insurance, it seems like there’s one company that’s hitting all the marks for Canadian customers.

Intact Insurance ranks first in two categories on BrandSpark’s list of Canada’s most “trusted brands”: auto insurance and home insurance. The list is based on the votes of 6,900 Canadians, who also cast their ballots for their favourite E-commerce brands, as well as other services.

Sun Life and Manulife were voted the most trusted brands for life insurance, while CAA took the prize for best travel insurance.

In addition to speaking out about which qualities drew them to a brand, Canadians also told BrandSpark which qualities turned them off. One in two respondents said that they’ve lost trust in a service provider when they were hit with hidden fees and rising prices. Not being able to easily find resolutions for complaints also negatively impacts customer trust.

“With the similarity of many service offerings, companies must race to acquire a strong consumer base, and then continually meet those consumers’ needs to prevent them from switching to a competitor,” said Robert Levy, president of BrandSpark.

“Trust is an important deciding factor for consumers.”

PC Optimum, SkipTheDishes, Vidéotron, Spotify and Expedia are among the other service providers that were voted “most trusted” in other BrandSpark categories. Notably, RBC, TD and Scotiabank tied as the most trusted mortgage providers in Canada, while Desjardins won the top spot in Quebec.

Here are the best brands by category:

Services Category2019 Winning Brand(s)
Alarm serviceADT Security Services
Auto Classifieds (Online)*autoTRADER.ca
Auto Insurance ProviderIntact Insurance
Auto Repair Service Chain*Canadian Tire
Buy and Sell Classifieds (Online)*Kijiji
Car RentalEnterprise
Cashback Rewards Credit Card*Capital One Costco
Cellular Network ProviderTELUS / Rogers / Bell (tie)
Cellular Network Provider (West)*TELUS
Cellular Network Provider (Ontario)*Rogers
Cellular Network Provider (Québec)*Vidéotron
Cellular Network Provider (Atlantic)*Bell
Cruise line*Norwegian / Royal Caribbean (tie)
Discount Cellular Service Provider*Koodo Mobile
Flight Booking Service*Expedia
Food Delivery App/Site*SkipTheDishes
Gym / Fitness Facility*GoodLife Fitness
Health Insurance*Blue Cross
High Speed Internet ProviderBell
Home Insurance ProviderIntact Insurance
Hotel Booking Site*Expedia
Investment Management Service*RBC / TD (tie)
Life Insurance ProviderSun Life / Manulife (tie)
Life Insurance Provider (Québec)*Industrielle Alliance
Loyalty ProgramPC Optimum
Meal Kit Delivery Service*Goodfood
Mortgage Provider*RBC / Scotiabank / TD (tie)
Mortgage Provider (Québec)*Desjardins
Music Streaming Service*Spotify
Oil Change Service Chain*Mr. Lube
Real Estate Agency/BrokerageRE/MAX
Travel Insurance Provider*CAA
Truck Rental Service*U-Haul
TV Nightly News*CTV
TV Service ProviderBell
Vacation Package Provider*Expedia
Weight Loss ProgramWeight Watchers

 

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