Insurers beat banks in CX: Survey

Singapore insurance companies have overtaken banks in the quality of customer experience (CX) for the first time since 2018, according to a survey by research and advisory firm Forrester.

Forrester said it surveyed more than 2,000 Singapore consumers across 11 brands (six insurers and five banks) to form its Singapore CX Index benchmarks.

The survey found that overall CX quality in Singapore improved by three points to 63.3 from 60.3 on a 100-point scale, as every insurance brand improved their CX scores.

FWD topped the insurance vertical for the second year in a row, while Citibank came in first among banks, displacing DBS – a long-standing leader. Citibank previously came in last in 2020.