12 insurance companies make list of most trusted Canadian companies
The Peter B. Gustavson School of Business, which is a part of the University of Victoria, has released its third annual report of the most trusted brands in Canada. While the top 10 entries from the list include companies from a variety of sectors, the entire 294 entry list features a dozen insurance providers.
The study polled more than 6,000 Canadian consumers, who were asked to rate the brands based on their perceptions of social responsibility, integrity and customer service.
The Mountain Equipment Co-op took home top honours, ranking No. 1 overall. Leading the way amongst insurers was the Canadian Auto Association (CAA), which placed No. 2.
“Trust is very important to CAA,” Jeff Walker, CAA’s chief strategy officer told The Canadian Insurance Broker. “Our members trust us to provide them with honest and helpful services and advice, and to advocate on their behalf, be it for travellers’ rights, safer roads or consumer protection.”
Blue Cross was a distant second among insurers, coming in at No. 65. Along with CAA, it was one of two insurance companies to crack the top 100.
Manulife checks in at No. 3 (102 overall) among insurers, followed by Great-West Life (116) and Sun Life (121). Here’s the overall performance summary of Canadian insurance companies:
Rank
Company
2
Canadian Auto Association (CAA)
65
Blue Cross
102
Manulife
116
Great-West Life
121
Sun Life
160
The Co-operators
183
Intact Insurance
187
Canada Life
189
Green Shield Canada
208
Desjardins Insurance
233
Aviva Insurance
243
Wawanesa Insurance
The results demonstrate a clear consumer predilection towards CAA. At No. 2 it is by far the most trusted insurance company in the country. While several other insurers performed well, many are clumped closely together, their respective rankinss doing little to differentiate them from one another in terms of public perception.