Category: Canada

Investments in Easy-to-Use Digital Tools Paying Off for Banks, Credit Card Companies in Canada, JD Power Finds

2020-06-10

jillian.breska

During the height of the COVID-19 pandemic, 41% of retail bank customers said they were using their bank’s mobile app more frequently than ever before, and 40% said they were using credit cards in a contactless manner. Years of digital investments are paying off as banks support homebound customers to continue their banking activities, based on a series of recent JD Power studies, released today, of bank and credit card online and mobile app users. Data shows that ease of use, speed and accessibility of common features are the most-often-cited variables shared by the best-performing digital platforms.

The studies—JD Power 2020 Canada Banking Mobile App Satisfaction Study,^SM 2020 Canada Online Banking Satisfaction Study,^SM 2020 Canada Credit Card Mobile App Satisfaction Study^SM and 2020 Canada Online Credit Card Satisfaction Study ^SM—track overall customer satisfaction with banking and credit card providers’ digital offerings.

“Banks have been investing heavily in digital for several years and those investments paid off during the past three months as the COVID-19 pandemic dramatically accelerated the shift to digital, forcing many remaining holdouts to finally take the plunge,” said Jennifer White, senior consultant for banking and payment intelligence at JD Power. “It’s never been more important for banks and credit card companies to make their digital offerings easy to access and use. Across our banking and credit card mobile app and online studies, the common digital trait among top performers is clear, smooth functionality that loads quickly and puts the information customers need front and center.”

Following are some key findings of the 2020 studies:

• Customers looking for the “Netflix of banking”: Bank and credit card customers have come to expect a seamless experience across all channels and contact methods, so if they are using the mobile app at lunch, they want to be able to pick up where they left off on their desktop after dinner. Accordingly, the most important indicators driving overall satisfaction with banking apps focus on ease and speed of finding information that’s most important in the moment. When customers’ most important information is displayed right on the overview page, overall satisfaction scores improve 57 points (on a 1,000-point scale).
• Banking websites outperform credit card websites: Banking websites in Canada outperform credit card websites by a margin of 8 points in overall satisfaction, largely due to extensive features and functionality available on bank websites and user-friendly information layouts.
• Mobile apps outperform websites: Across the studies, customer experience with mobile apps is generally better than their online experience, due largely to greater levels of perceived visual appeal and streamlined layout on mobile apps.

Study Rankings

CIBC ranks highest in Canada banking mobile app satisfaction, with a score of 830. Scotiabank (822) ranks second and BMO Bank of Montreal (816) ranks third.

Scotiabank ranks highest in Canada online banking satisfaction, with a score of 819. CIBC (817) ranks second and TD Canada Trust (815) ranks third.

Tangerine Bank ranks highest in Canada credit card app satisfaction, with a score of 857. RBC Royal Bank (843) ranks second. American Express (831) ranks third.

Tangerine Bank ranks highest in Canada credit card online satisfaction, with a score of 830. RBC Royal Bank (819) ranks second and Scotiabank (811) ranks third.

The 2020 Canada Banking Mobile App Satisfaction Study, Canada Online Banking Satisfaction Study, Canada Credit Card Mobile App Satisfaction Study and Canada Online Credit Card Satisfaction Study measure overall satisfaction with banking and credit card digital channels based on four factors: navigation; speed; visual appeal; and information/content. The studies are based on responses from 9,147 retail bank and credit card customers nationwide, and were fielded in March-April 2020.

To learn more about these studies, visit https://canada.jdpower.com/business/resource/canadian-banking-mobile-app-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; Huntington, NY.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info

COVID-19 Exacerbates Client Experience Challenges for Canadian Self-Directed Investment Firms, JD Power Finds

2020-05-27

jillian.breska

Toronto: 28 May 2020 — Even before the COVID-19 pandemic triggered a spike in trading volume and an influx of new investors in Canada to open do-it-yourself (DIY) investment accounts, investors were experiencing issues with investment firms’ websites, according to the JD Power 2020 Canada Self-Directed Investor Satisfaction Study,^SM released today. Issues with websites are becoming more prevalent as trading volume and the number of investors increase.

Nearly half (46%) of self-directed investors who cite experiencing a problem with their self-directed investment firm attribute it to the firm’s website. Furthermore, 29% of investors experienced website inaccessibility at least once during the past 12 months. Investors’ satisfaction with their self-directed investment firm declines to 717 (on a 1,000-point scale) from 726 in 2019, despite strong market conditions when the survey was fielded in late 2019. Among younger investors (Millennials¹and younger), 26% of those who experienced website inaccessibility say they “probably will” or “definitely will” switch firms in the next year.

“The recent flurry of new account openings and increased trade volumes are obviously good for self-directed firms but have also exacerbated some client experience issues that existed before the pandemic, especially around the availability and navigation of digital platforms,” said Michael Foy, senior director of wealth and lending intelligence at JD Power. “This is putting even more strain on already overloaded call centres. With more choices than ever for new investors, including low-cost robo or digital advisors, self-directed firms that want to keep new clients must ensure they are minimizing problems and resolving them quickly and effectively.”

Following are additional key findings of the 2020 study:

• Overlooking the onboarding experience: When it comes to new clients, investment firms are missing a critical opportunity to improve overall satisfaction through digital and mobile engagement during the onboarding process. Website/platform tutorial and explanation about app downloading can elevate investors’ satisfaction by 45 and 40 points, respectively. Yet, 60% of new investors did not receive an online tutorial and 86% were not informed of how to download the app.    
• Mobile, Millennials and brand affinity: Among transaction channels, mobile—which has lower satisfaction (735) than online (773) and phone (779)—is the most preferred channel by DIY Millennial investors who average 23 mobile interactions annually with their investment firm. Improvement in the mobile experience is important for investment firms, as Millennial investors are not only a source for future organic business growth but also are vocal brand ambassadors. Among highly satisfied Millennial investors, 59% say they “definitely will” recommend their investment firm.
• Affluent risk exposure: Investment firms have a heightened risk of losing high-value clientele who experience issues more frequently than among clients in other groups. More than one-third (34%) of affluent self-directed investors (those with portfolios of CAD$500,000 and above), cite experiencing problems with their investment firm and, as a result, average satisfaction among these clients is 82 points lower than among those who had no issues (682 vs. 764, respectively).
• Human support critical for problem solving: When problems do occur, 86% of self-directed investors turn to human support channels to solve the problem. Overall satisfaction among those who work with a human to solve a problem is 72 points higher than among those who use self-service digital channels.

Study Rankings

Questrade ranks highest in customer satisfaction with a score of 736. BMO InvestorLine (731) ranks second and Desjardins Online Brokerage (730) ranks third.

The Canada Self-Directed Investor Satisfaction Study, now in its 12^th year, evaluates key satisfaction drivers and firm performance for self-directed investors who make all their investment decisions without the counsel of a full-service dedicated financial advisor.

The study measures self-directed investors’ satisfaction with their investment firm based on performance in seven factors (in alphabetical order): account information; commissions and fees; firm interaction; information resources; investment performance; problem resolution; and product and service offerings. The study is based on responses from 2,094 investors and was fielded from November 2019 through January 2020.

For more information about the 2020 Canada Self-Directed Investor Satisfaction Study, visit https://canada.jdpower.com/financial-services/canada-self-directed-investor-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe; 647-259-3261; [email protected]
Madelyn Boelhouwer, Cohn & Wolfe; 647-259-3283; [email protected]
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info.

¹JD Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2004). Millennials (1982-1994) are a subset of Gen Y.

Traffic at Canadian Wireless Carrier Retail Stores Declines—More Challenges Lie Ahead, JD Power Finds

2020-05-20

jillian.breska

TORONTO: 21 May 2020 – While retail stores of Canada’s wireless carriers still account for the lion’s share of sales volume, customer traffic for in-store purchases prior to the pandemic declined to 51% from 56% in 2019. This casts a shadow over future in-store purchases in the COVID-19 era, according to the JD Power 2020 Canada Wireless Purchase Experience Study,^SM released today.

The study this year finds that overall satisfaction with the shopping experience at carriers’ retail locations is higher than at non-carrier stores (800 vs. 795, respectively, on a 1,000-point scale), yet customer satisfaction declines with store facilities (-6 points) and with store sales representatives (-8) compared with 2019. The in-store purchase experience remains more satisfying compared to phone and web purchase channels, and contributes to a more positive brand image in the eyes of customers.

“The role of retail stores will remain critical for carriers in retaining customers, attracting new ones and building their brand,” said Adrian Chung, director of the technology, media & telecom practice at JD Power Canada. “With fewer shoppers visiting carriers’ brick-and-mortar locations, the prospect of a redesigned shopping experience in a new retail environment will offer opportunities to sharply focus on meeting customer needs and elevating their purchase experience while continuing to adhere to public health guidelines.”

The study also reveals a disparity in the in-store experience between new and current wireless customers. While both groups cite a higher satisfaction level when shopping at a retail store vs. shopping on a carrier’s website or via a phone representative, new customers are more satisfied with the overall store experience (812) than are current customers (795). New customers also have higher satisfaction with the price of the new device or plan (721) than do current customers (678).

Study Rankings

Virgin Mobile ranks highest in overall satisfaction with the purchase experience with a score of 820. Koodo Mobile (816) ranks second and Videotron (802) ranks third. Overall satisfaction is 795, a slight increase from 793 in 2019.

The 2020 Canada Wireless Purchase Experience Study examines wireless carriers’ performance across sales-related activities in stores, over the phone and online. Satisfaction is measured in six factors: store representative; online purchase; phone purchase; facility; offerings and promotions; and cost of service. The study is based on responses from 5,249 wireless customers with a postpaid plan from an eligible carrier and who have had a purchasing experience in the past six months. The study was fielded In February-March 2020.

For more information about the Canada Wireless Purchase Experience Study visit https://canada.jdpower.com/tmt/canada-wireless-purchase-experience-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe; 647-259-3261; [email protected]
Madelyn Boelhouwer, Cohn & Wolfe; 647-259-3283; [email protected]
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info

Wireless Customer Care Satisfaction Declines but Unassisted Channels Offer Optimism Amid Growth in Usage, JD Power Finds

2020-05-06

jillian.breska

TORONTO: 6 May 2020 — While wireless carrier call centres continue to be the most frequently used channel for customer service needs, unassisted support via mobile apps has seen the most growth in usage and offers customers a highly satisfying experience, according to the JD Power 2020 Canada Wireless Customer Care Study,^SM released today.

“Mobile apps are often preferred for their ease of use, along with speed of access to information and support,” said Adrian Chung, director of the technology, media & telecom practice at JD Power Canada. “While other channels may still be required for full problem resolution, the app experience requires less effort as it fits within one’s daily device use.  With COVID-19 causing disruptions in service and store closures, carriers can expect increasing reliance on this channel to quickly address customer needs.”

Study Results

For full-service carriers, Virgin Mobile ranks highest with a score of 794. Fido (782) ranks second and SaskTel (779) ranks third.

The 2020 Canada Wireless Customer Care Study is based on responses from 4,638 customers who contacted their carrier’s customer care department within the past six months. The studies evaluate customer care experiences across 12 different customer care channels: phone customer service reps; in-store contact; online chat; email; social media post; carrier app question post; automated telephone systems; website search; social media search; user forum; video from carrier; and carrier app search. The study was fielded in February-March 2020.

For more information about the Canada Wireless Customer Care Study visit https://canada.jdpower.com/tmt/canada-wireless-customer-care-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe; 647-259-3261; [email protected]
Madelyn Boelhouwer, Cohn & Wolfe; 647-259-3283; [email protected]
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info

Canadian Banks Face Untimely Digital Banking Headwinds Since Pandemic Began, JD Power Finds

2020-05-04

jillian.breska

TORONTO: 7 May 2020 – Customer satisfaction with retail banks in Canada was high before the outbreak of COVID-19, but satisfaction is falling flat in the critical area of digital banking experiences, according to the JD Power 2020 Canada Retail Banking Satisfaction Study,^SM released today. Overall satisfaction among banking customers in Canada has risen by five points to 790 (on a 1,000-point scale) from 2019, mainly driven by increases in score by the Big 5 banks. Overall satisfaction among midsize bank customers decreases two points to 796 from a year ago.

Alarmingly, while overall mobile banking usage increases this year to 63% from 55% a year ago, customer satisfaction with banks’ mobile offerings has declined significantly year over year to 828 from 832. The decline in mobile banking satisfaction occurs across all age and income groups, with the sharpest drops among Gen X¹ customers (-10 points) and affluent customers (-10).

“Canadian banks have seen, for the most part, significant improvements in customer satisfaction related to products and fees, reasonableness of fees and problem resolution,” said John Cabell, director of banking and payments intelligence at JD Power. “At the same time, the massive investments made by banks in mobile offerings have yet to show dividends in terms of elevating customer satisfaction. As many more customers must now reluctantly rely heavily on remote access to banking services due to COVID-19, rapid improvements in online and mobile are critical for Canadian banks to grow their retail business.”

According to the study, 49% of customers in Canada rely heavily on online and mobile banking, with 33% being defined as digital-only customers who predominantly use mobile or the internet for their banking needs. Overall satisfaction is lowest (777) among this group of digital banking customers, compared with branch-dependent digital customers (799) and branch-only customers (783). The low satisfaction of digital-only customers should be an alert to banks as more customers favor digital interaction over use of branches.

The study also shows that customers’ financial outlooks correlate not only with satisfaction with their bank but also with the likelihood they will choose the bank for their next financial service need. Overall satisfaction among customers who have a positive personal outlook about their financial situation averages 867, while overall satisfaction among those who have a negative or neutral financial outlook averages 758. Furthermore, 78% of customers with a positive outlook say they plan to use their current bank the next time they need an account or financial product, compared with only 54% of customers with a negative or neutral outlook. With mounting concern regarding further economic hardship, this trend highlights a valuable opportunity for banks to better address the needs of increasingly anxious customers.

Following are additional key findings of the 2020 study:

• Digital pain points: Lack of information clarity and ease of navigating the mobile app are the key reasons for customers’ declining satisfaction with banking digital channels. Additionally, banking advice received via digital channels, such as email and mobile app, is trending upward, yet it only meets customer needs 51% of the time vs. advice received at the branch (67%) or via phone with a bank representative (59%).
• Big banks lead midsize banks on digital engagement: Canada’s Big 5 banks have a larger proportion of customers who are highly engaged digitally with their financial institution (50%), compared with 46% among midsize bank customers.
• Gen Y customers hold the key for future growth: Among Gen Y customers, satisfaction increases the most year over year in the factors of ABM (automated banking machine); products and fees; and communication and advice. Members of this group hold the key for retail banks’ future business growth as they tend to have a college or other advanced degree and are affluent or mass affluent, defined as having an annual income between CAD$90,000-CAD$175,000.

Study Rankings

Among the Big 5 banks, RBC Royal Bank ranks highest with a score of 794. TD Canada Trust (790) ranks second. The segment average is 788.

Among midsize banks, Tangerine ranks highest for a ninth consecutive year, with a score of 839. Simplii Financial (819) ranks second and ATB Financial (801) ranks third.

The Canada Retail Banking Satisfaction Study, now in its 15^th year, measures customer satisfaction with Canada’s large and midsize banks. The scores reflect satisfaction among the entire retail banking customer pool of these banks, representing a broader group of customers than solely the branch-dependent and digital-centric segments.

The study measures customer satisfaction in six factors (listed in alphabetical order): channel activities; communication/advice; convenience; new account opening; problem resolution; and products/fees. Channel activities include seven sub-factors (listed in alphabetical order): assisted online service; ABM; branch service; call centre service; IVR/automated phone service; mobile banking; and online banking. The study is based on responses from nearly 14,000 retail banking customers of Canada’s largest and midsize banks regarding their experiences with their bank. It was fielded from July 2019 through January 2020.

For more information about the Canada Retail Banking Satisfaction Study, visit https://canada.jdpower.com/resource/canada-retail-banking-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe; 647-259-3261; [email protected]
Madelyn Boelhouwer, Cohn & Wolfe, 647-259-3283; [email protected]
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]

About JD Power and Advertising/Promotional Rules: http://www.jdpower.com/business/about-us/press-release-info

¹JD Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2004). Millennials (1982-1994) are a subset of Gen Y.

Banking App Satisfaction in Canada Decreases with Migration to Digital Channels, JD Power Finds

2019-06-26

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TORONTO: 27 June 2019 — With approximately 90% of retail bank customers in Canada saying they’ve had at least one digital interaction with their banks in the past three months¹ and 70% of credit card customers interacting with their provider’s digital offerings,² online and mobile apps have become a critical component to overall customer experience. According to four studies of bank and credit card online and mobile app users, released today, JD Power finds that customer satisfaction levels with these digital channels have been increasing, with mobile apps in particular driving increased loyalty among banking customers.

The studies—JD Power 2019 Canada Banking Mobile App Satisfaction Study,^SM 2019 Canada Online Banking Satisfaction Study,^SM 2019 Canada Credit Card Mobile App Satisfaction Study^SM and 2019 Canada Online Credit Card Satisfaction Study—track overall customer satisfaction with banking and credit card providers’ digital offerings.

“Canada’s leading banks now have more than half of their customers interacting with them in a digitally centric manner,” said Bob Neuhaus, Vice President of Financial Services Intelligence at JD Power. “In fact, nearly 40% of banking customers conduct all of their interactions digitally without ever setting foot in a bank branch. As more banking and credit card customers interact more frequently with their providers’ digital channels, these digital experiences will become a fundamental part of the overall brand. It is critical that banks and credit cards get the formula right, delivering the resources customers need, but also organizing it in a way that it is user-friendly.”

Following are some key findings of the 2019 studies:

• Bank mobile app satisfaction decreases: The overall customer satisfaction score for retail banking mobile apps is 821 (on a 1,000-point scale), down 3 points from 2018. Online banking satisfaction is 813. When customers say they have complete understanding of the mobile app, there is a 110-point improvement in overall satisfaction for banking apps and a 101-point improvement for online banking.

• Simplicity and appearance of credit card apps are appealing to consumers: The overall customer satisfaction score for credit card mobile apps is 822. Online credit card satisfaction is 809. In both cases, customers indicate strong levels of understanding of features and offer high marks for mobile app appearance. The higher overall satisfaction scores for credit card mobile apps are attributable to a more tailored visual user experience that limits content to pertinent information and key functionality.
   
• Familiarity breeds loyalty: Banking mobile apps have the highest percentage of customers accessing the app 12 or more times a month. Higher usage of 8 or more times a month on either online or mobile platform substantially increases overall satisfaction. Overall, 77% of bank mobile app users say their bank’s mobile app is either “somewhat important” or “very important” channel in preventing them from switching to a different bank.

• Personalization, curation of content become next frontier for digital channels: The bulk of spending and design activity in the banking and credit card online and mobile app space has been focused on creating rich feature sets and improving usability. As the technologies evolve, the focus needs to shift to personalization, creating a curated user experience that delivers both convenience and streamlined usability.

Study Rankings

Scotiabank ranks highest in overall satisfaction among Canada banking mobile apps, with a score of 834. CIBC (832) ranks second and RBC Royal Bank (826) ranks third.

TD Canada Trust ranks highest in overall satisfaction for Canada online banking, with a score of 821. CIBC and Scotiabank rank second in a tie with 813.

CIBC ranks highest in overall satisfaction among Canada credit card mobile apps, with a score of 845. Tangerine (840) ranks second and American Express (833) ranks third.

Desjardins ranks highest in overall satisfaction for Canada online credit card, with a score of 831. RBC Royal Bank (830) ranks second and TD Canada Trust (822) ranks third.

The 2019 Canada Banking App Satisfaction, Canada Online Banking Satisfaction, Canada Credit Card App Satisfaction and Canada Online Credit Card Satisfaction studies measure overall satisfaction with mobile banking and credit card applications based on five factors: ease of navigation; appearance; clarity of information; range of services; and availability of key information. The studies are based on responses from 8,409 retail bank and credit card customers nationwide. Both studies were fielded in March-April 2019.

To learn more about these studies, visit https://canada.jdpower.com/business/resource/canadian-banking-mobile-app-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, South America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe; 647-259-3261; [email protected]
Sandy Caetano, Cohn & Wolfe; 647-259-3288: [email protected]
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

¹JD Power 2019 Canada Retail Banking Satisfaction Study

²JD Power 2019 Canada Credit Card Satisfaction Study

Canadian Insurance Companies Fall Short of Customers’ Digital Expectations, JD Power Finds

2019-06-24

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COSTA MESA, Calif.: 25 June 2019 — Property and casualty (P&C) insurance companies in Canada are falling short of customer expectations for digital self-service tools, customer service channels and omni-channel integration. According to the inaugural JD Power 2019 Canada Insurance Digital Experience Report,^SM released today, this lack of digital maturity on the part of P&C insurers leaves the door open to competition from alternative, digital native companies such as Amazon, Google and Uber.

“Today’s P&C insurance customer expects their provider to deliver an efficient, seamless experience across multiple offline and digital channels,” said Tom Super, Vice President Property and Casualty Insurance Intelligence at JD Power. “The 12 insurance carriers we evaluated for this report show a visible presence when it comes to their digital offerings, but they are still severely lacking when it comes to meeting expectations of core insurance digital functionality.”

The JD Power 2019 Canada Insurance Digital Experience Report evaluates digital consumer experiences among P&C insurance shoppers seeking quotes and existing customers conducting typical policy-servicing activities. The report examines the functional aspects of websites and mobile apps based on five factors (in order of importance): ease of navigation; appearance; key information; range of services; and clarity of information. The report was conducted in partnership with Centric Digital, the leader in digital intelligence, and includes Centric Digital’s DIMENSIONS^TM measurement of insurers’ digital strengths, weaknesses and overall digital maturity.

Following are key findings of the 2019 report:

• Digital offerings lack maturity: Areas in which Canadian P&C insurance companies come up short in the eyes of their customers are digital self-service tools that often lack basic features such managing policies across product lines and customer services channels that are not fully integrated across different digital communications channels, such as text, web, social media, and e-mail.
   
• Many insurance customers open to idea of alternative providers: One-third of all Canadian P&C insurance customers are open to the idea of getting insurance from digital native companies such as Amazon (35%) and Google (35%). Further, one in four say they would be open to switching their auto policies to an auto manufacturer (28%) or Uber (24%). Another 19% say they would consider insurance offered by Tesla.
   
• More insurance customers using mobile apps: Two-thirds (67%) of insurance customers say they used a mobile device or app for their most recent insurance transaction. Nearly one-third (30%) said they used their mobile device during their most recent auto insurance shopping experience, while 70% of mobile consumers use the channel to manage their existing policies, such as paying their bill or managing a claim.

“Canadian P&C insurers are on the right path,” said Peter Smith, Chief Strategy Officer at Centric Digital. “They have made significant progress in web design but lack the industry-specific capabilities many U.S. insurers offer. Additionally, many Canadian P&C insurers fail to create experiences that meet or exceed consumer expectations established in other industries. This report provides valuable insights to help insurers bridge this experiential divide.”

The 2019 Canada Insurance Digital Experience Report is based on evaluations from almost 2,000 insurance shoppers who sought quotes via digital channels and existing insurance customers who conducted typical policy-servicing activities via digital channels within the past year. The report was fielded in May-June 2019.

Report Results

Desjardins is the overall top performer in Centric Digital’s digital capabilities evaluation. The carrier earned a score of 683 which is substantially higher than the industry average score of 503. Desjardins stands out across almost all categories with leading scores across customer service; messaging; social networks; user tools; and insurance-specific capabilities such as claims and account management.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, South America, Asia Pacific and Europe.

Centric Digital’s intelligence platform, DIMENSIONS,™ measures capabilities across an enterprise’s core digital footprint—web, mobile, social, etc.—and compares them to industry standards and market leaders. Insights from Centric Digital IQ data powers partner solutions, informs investors and guides C-suite executives through frontline managers to optimize business performance. Over 15,000 brands worldwide and across industries are tracked including the S&P 500. To learn more or schedule a demo, please visit centricdigital.com.

Media Relations Contacts
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

Binge Watching Propels Customer Satisfaction. Canada Wireline Providers Need to Innovate, JD Power Finds

2019-06-19

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TORONTO: 20 June 2019 – TV Viewers in Canada love to binge watch, spending more than four hours in front of the screen per viewing session, according to the JD Power 2019 Canada TV Service Provider Satisfaction Study^SM and the JD Power 2019 Internet Service Provider Satisfaction Study,^SM released today. Nearly four in 10 customers (39%) say they indulge in marathon viewing through their TV service provider.

The study finds that binge watching is more popular among younger viewers, especially Gen Z¹and Gen Y who are nearly twice as likely to binge-watch content across various platforms, compared with Pre-Boomers (55% vs 24%, respectively). Binge watching also is associated with higher customer satisfaction with the TV provider’s programming, and features and functionality of the service, compared with those who don’t binge. Younger audiences are twice as likely to use the streaming app and three times more inclined to use a secondary streaming account (such as Netflix) through the provider’s interface than Boomers and Pre-Boomers.

“On the upside, there is a trend of improvement in overall customer satisfaction since 2015,” said Adrian Chung, Director of the Technology, Media & Telecom Practice at JD Power in Canada. “However, this trend has plateaued. If TV and ISP providers want to remain competitive, they need to innovate and stay relevant to younger audiences. Availability and reliability of the service, wider content selection and enhancements to streaming apps and user interface are key areas that can positively affect satisfaction.”

Following are some key findings of the 2019 studies:

• Service disruption erodes satisfaction: Nearly one-third (31%) of internet service customers and 29% of TV service customers have experienced a service outage in the past three months. Service disruption has a significant effect on satisfaction levels. Satisfaction with the provider’s performance and reliability drops to 768 from 820 (on a 1,000-point scale) after the first incident among internet users and drops to 734 from 793 after the first incident among TV viewers. Satisfaction continues to decline as the number of incidents increase.
• Fix it right the first time: Only 60% of TV customers and 58% of internet service customers had their question or problem resolved during the first contact with their provider. Among TV customers who contacted their provider, 15% said they were unable to achieve resolution and, among internet service customers, 17% said their problem was not resolved. As problem or question resolution drags beyond the first contact, overall satisfaction declines significantly, dropping to 658 from 733 among internet users and to 686 from 748 among TV viewers.
• Technician visits—the last line of defense: Nearly half (49%) of service visits for internet users and 55% of service visits for TV viewers were done by technicians to resolve an issue that could not be rectified by a call center. While this often makes the providers’ service technicians the last line of defense in resolving a customer problem that couldn’t be fixed by other means, it still offers an opportunity to deliver an exceptional experience. 

Study Rankings

In the East region, Videotron ranks highest in both TV (780) and Internet Service Provider satisfaction (779) for a seventh consecutive year. Cogeco ranks second in TV satisfaction (730) and internet (727).

In the West region, SaskTel ranks highest in both TV (759) and Internet Service Provider satisfaction (755) for a seventh consecutive year. TELUS ranks second in this region for both TV satisfaction (722) and internet (719).

The 2019 Canada Television Provider Customer Satisfaction Study is based on seven factors (in order of importance): performance and reliability; cost of service; programming; communications and promotions; features and functionality; billing and payment; and customer service. The 2019 Canada Internet Service Provider Customer Satisfaction Study measures overall satisfaction with internet service providers and is based on five factors (in order of importance): performance and reliability; cost of service; communications and promotions; billing and payment; and customer service. The studies are based on responses from 6,443 internet customers and 6,389 TV customers in Canada. The studies were fielded in March-April 2019.

For more information about the Canada TV and ISP Satisfaction Studies, visithttps://www.jdpower.com/business/resource/canadian-wireline-satisfaction-study-ca.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, South America, Asia Pacific and Europe.

¹JD Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2004). Millennials (1982-1994) are a subset of Gen Y.

Wireless Network Quality Improves But Carriers at Risk of Losing Young Customers, JD Power Finds

2019-05-08

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TORONTO: 9 May 2019 — The heavy investments by wireless carriers in Canada related to infrastructure enhancements are improving customer satisfaction with network quality, according to the JD Power 2019 Canada Wireless Network Quality Study,^SM released today. Overall, wireless network issues, measured by problems per 100 connections (PP100), have dropped to 9 PP100 from 11 PP100 in 2017.

While improved satisfaction in network quality is seen across all markets in Canada, the positive news comes with a caveat. According to the study, Gen Y¹and Gen Z customers, the heaviest users of mobile data, are experiencing a significantly higher rate of connectivity problems than customers in other age groups. Gen Y and Gen Z customers are the most prolific users of plans over 5GB (46% and 48%, respectively), and cite a high level of web issues (14 PP100 for Gen Y and 19 PP100 for Gen Z). This is higher than the number of issues cited by Boomers (8 PP100) and Pre-Boomers (5 PP100).

“Wireless network quality is an important brand promise,” said Adrian Chung, Director of the Technology, Media & Telecom Practice at JD Power in Canada. “When customers experience connectivity issues, it negatively affects their perception of reliability and erodes trust. While younger customers tend to be more price sensitive, they are heavier users of data. Wireless carriers that want to reduce potential churn should focus on understanding the data problems experienced and better align plans to meet the data needs and expectations of these customers.”

According to the study, Gen Y and Gen Z customers rate wireless provider reliability lower (5.7 points on a 1-7 scale), compared with Gen X (5.8), Boomers (6.1) and Pre-Boomers (6.2). Additionally, 40% of Gen Z customers cite price as the main reason for ending their relationship with a carrier.

Following are some key findings of the 2019 study:

• From a phone to a communications hub: Younger customers, especially Gen Y and Gen Z, use their mobile devices as a communications hub rather than just as a phone. Gen Z customers sent/received an average of more than 90 text messages within a recent 48-hour span, compared with only 12 text messages sent/received by Pre-Boomers. Also, Gen Z and Gen Y customers use apps on their devices three to six times more frequently (24.9 and 20.4 times, respectively) than Boomers (7.2 times) and Pre-Boomers (3.7 times).
• Data suckers: Among younger customers, the changing function of smart phones leads to an increase in the number of apps they host on their devices. The number of apps hosted and used is nearly doubled with each generation through Gen Y. The most common apps used by Gen Y and Gen Z include instant messaging (72% vs. 78%, respectively); social networking (70% vs. 75%); listening to music (65% vs. 81%); and mobile payments (43% vs. 46%).
• Need for speed: Younger customers have the highest satisfaction with the speed of their devices. Among Gen Z customers, 13% say data speeds are higher than expected, followed by Gen Y (9%), Gen X (7%), Boomers (7%) and Pre-Boomers (2%). This is due, in most cases, to younger customers owning newer phones with improved technology.

Study Rankings

In the East region, TELUS Mobility ranks highest in network quality with 7 PP100. The East region consists of the provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island and Quebec. Bell Mobility and Videotron rank second in a tie with 8 PP100.

In Ontario, TELUS Mobility ranks highest with 8 PP100. Bell Mobility (9 PP100) ranks second.

TELUS Mobility ranks highest in the West region with a score of 8 PP100. The West region consists of the provinces of Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan and Yukon Territory. Bell Mobility, Bell MTS and SaskTel rank second in a tie with 9 PP100 each.

The 2019 Canada Wireless Network Quality Study was conducted online in English and French. The study, which measures problems per 100 connections (PP100), includes seven wireless carriers in the East region; seven wireless carriers in Ontario; and nine wireless carriers in the West region. The study is based on 13,900 responses and was fielded in February-March 2019.

For more information about the Canada Wireless Network Quality Study, visit https://canada.jdpower.com/business/resource/canadian-wireless-network-quality-performance-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, South America, Asia Pacific and Europe.

Wireless Carriers Must Increase Billing Transparency to Improve Satisfaction and Image, JD Power Finds

2019-04-24

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TORONTO: 25 April 2019 — By having clear, open and transparent customer communications, especially with billing, wireless carriers will see an increase in satisfaction, according to the JD Power 2019 Canada Wireless Customer Care Study,^SM released today. The study finds that 39% of wireless customers were calling customer service to solve a problem and half of those contacts were billing-related, usually an incorrect bill amount or high bill complaint. Wireless carriers can benefit from reducing these calls by increasing open communication.

“Customers experiencing billing issues are less satisfied, and that translates into a lack of trust,” said Adrian Chung, Director at JD Power. “If wireless carriers can offer increased clarity around billing expectations, proactive usage alerts and easy access to information, they will see a boost in satisfaction and more positive impressions of trust and value.”

Study Results

Virgin Mobile ranks highest with a score of 811. Videotron (804) ranks second and Koodo Mobile (799) and SaskTel (799) rank third in a tie. The industry average is 761.

The 2019 Canada Wireless Customer Care Full-Service Study is based on responses from 4,818 customers who contacted their carrier’s customer care department within the past six months. The studies evaluate customer care experiences across 12 different customer care channels: phone customer service reps; in-store contact; online chat; email; social media post; carrier app question post; automated telephone systems; website search; social media search; user forum; video from carrier; and carrier app search.

The study was fielded from February through March 2019.

For more information about the Canada Wireless Customer Care Study visit https://canada.jdpower.com/business/resource/canadian-wireless-customer-care-performance-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, South America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe; 647-259-3261; [email protected]
Sandy Caetano, Cohn & Wolfe; 647-259-3288: [email protected]
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]

About JD Power and Advertising/Promotional Rules: http://www.jdpower.com/business/about-us/press-release-info