During the month of September, the Chamber of Insurance Agents conducted a satisfaction survey in the field of finance among 359 insurance agents, using an online questionnaire. The survey was conducted by the Sherid Institute and examined the satisfaction of insurance agents with the companies they work with.
Yelin Lapidot leads in satisfaction, analyst at the bottom
The survey was presented for the first time at the Investment and Finance Conference of the Chamber of Insurance Agents. With the participation of hundreds of insurance and finance professionals. According to the survey data, among the investment houses, Yelin Lapidot won first place with a score of 4.4. Among the insurance companies, Clal Insurance and Finance won first place (3.9), followed by Mor Investments (4.1), Meitav (4), Clal Insurance (3.9), Migdal (3.7), Phoenix Excellence (3.6), Menorah (3.6), Rounding out the list are Harel Insurance and Finance (3.5) and Analyst (3.3).
Distribution of survey respondents – 28% of respondents work with Harel Insurance and Finance, 25% with Phoenix Excellence, 23% with Migdal, 18% with Mor Investments, 18% with Clal Insurance and Finance, 15% with Analyst, 13% with Yelin Lapidot, 11 % with Menorah, 10% with Meitav, 8% with Altshuler Shaham, 4% with Ayalon, 3% with Hachshara and 1% with Infiniti.
According to the survey data, it appears that 25% of the agents need training in order to deepen their activities in the field of finance. 18% need personal support, and a similar percentage request a wider range of financial products. 15% of the financial agents stated that they market alternative investments. The reasons that prevent agents from marketing alternative investments: lack of experience in the field (30%), lack of trust in the product (25%), lack of supervision or regulation (17%), high risk (11%) and fear of the field (3%). It can be seen that quite a few agents do not feel professional enough to provide service in the field they are engaged in, and about a fifth of them need personal training.
Yelin Lapidot was ranked first in 8 indicators: satisfaction with the telephone response, response time in emails, satisfaction with productions, changes, absorption and association, recovery of funds, professionalism, supervision.
Analyst ranked last in 6 indicators: satisfaction with response time to emails, productions, changes, absorption and association, redemption of funds, professionalism. Phoenix Excellence ranked last in 2 indicators: satisfaction with the telephone response, supervision.
Who is the leader in investment strategies?
According to the survey, the agents answered that those who plan the best investment strategies are the investment houses voted for by 55% of the respondents, 45% answered that the insurance companies. Among the insurance companies, Phoenix-Excellence ranked first in investment strategy, followed by Harel, Migdal, Clal, Menorah, and in the last places – Hachshara and Ayalon.
Among the investment houses, Yelin Lapidot ranked first in investment strategy, followed by Analyst, Moore, Meitav, Altshuler Shaham and in last place by a considerable margin, Infinity.
Phoenix Excellence was found to be the company that hurts the agents the most through the retention system that keeps customers in a direct channel as a substitute for an agent, with 47% of the agents citing it. She is followed by Menorah (31%), Migdal (26%), Clal (23%), Harel (23%), Meitav (12%), Altshuler Shaham (11%), Mor (5%), Yelin Lapidot (3%) , Analyst (3%), Infiniti (3%), Hachshara (2%) and Ayalon (2%).
