Positive results in second annual Atradius customer survey; Atradius Customers highlight why they renew their credit insurance policy.
For the second year, Atradius administered a customer survey to collect their input on our products and services. We maintained most of the questions to be able to compare the results to the previous year, and updated a few to touch on new topics.
This year, our survey began on June 14th and ended on August 8th. In total, we had 343 customer responses for a 12% response rate, an increase compared to last year’s 255 responses. 168 of those responses came from the US, 140 came from Mexico, and 35 came from Canada. Overall, the survey resulted in a 95% confidence level with a 5% margin of error.
Atradius overall received an impressive Net Promotor Score of +59, indicating that most customers are strong advocates of our company. The US specifically got a +51, which is well above the national averages for our industry.
Our customers disclosed that the top reasons for purchasing credit insurance were mitigating credit risk (88%), and improving credit management (49%). In relation to that, the top reason for choosing Atradius specifically over the competition was the price of service (55%). This was closely followed by the level of coverage provided (51%), the supportive and proactive account team (50%), and flexibility (42%). Atradius and our service were described most consistently as professional (77%), reliable (63%), and efficient (59%).
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Over the last two years we learned that inflation, supply chain disruptors, and / or changes in consumer habits heavily impacted 3 in 5 of our customers. This survey helps us to better understand what our policy holders’ pressing needs are and where we can invest to help them overcome the new obstacles they face each year.
Overall, 90% of customers responded saying they are likely or very likely to renew their policy. Finally, 92% of our customers would recommend Atradius to a friend or a colleague. We thank our customers for the time they took to provide us with their honest feedback and we look forward to running our survey next year to check on our performance.
Our newsletter included more data from our customer survey as well as areas of improvement we are looking at going into 2023. Subscribe to our newsletter to receive information on topics such as our customer survey moving forward in a brief and informative publication.
Let us close by congratulating Dynamic Voice Data, Inc. for being the winner of the $500 gift card awarded to a random survey respondent. Hope you and your team will enjoy it, and thank you for being a great customer!