British consumers’ perception of insurers has improved, according to the Chartered Insurance Institute.

Latest findings from the institute’s public trust index show insurers have performed better across all nine survey themes, with large improvements around “getting a fair deal”, control over claims and respect.

“The improvement in consumer satisfaction was broad-based across motor, travel and buildings/contents insurance,” the institute said.

Consumer satisfaction among policyholders in the 18-34 and 35-54 age groups rose to its highest level since the institute started collecting data in 2019.

But the institute says there is still room for improvement, as the index indicates weakness around fairness and a slide in satisfaction among SMEs.

Institute group policy and public affairs director Matt Connell says it is “apparent from the data that there is still plenty of opportunity for insurers to show greater fairness to their existing customers.

“For example, insurers could turn what they ‘must do’ to comply with … rules on price walking [loyalty taxes] into an explicit customer guarantee – that they will never charge customers more at renewal than they would pay if they were a new customer.

“Insurers have a great chance to mend the damage to trust that has been caused by price walking – but first, they must make what they are doing much clearer to consumers.”