Ranking is one of the measurement scales which are in use from a long time and on the basis of which many decisions are taken. As the American and European market is full of insurance companies and where it is mandatory from the part of the state to insure health and wealth, many insurance companies got mushroomed. If proper rankings are given to such companies according to their service provided, it will be easy for the customers to choose the insurance companies.
The parameters on which they should be rated should be the customer satisfaction level; satisfaction is defined as when the expectation level of the customer matches the delivered value. So when auto insurance providers exactly deliver what the insurance holder wants then it gets a higher rank in the list. The other factor is cost, which is very common and is associated with almost every product and service. Unnecessary charges and hidden charges of these providers give them lower rank in the list. The time in which the insurance company response is one of the important factor, which is taken care of, while giving ranks to the auto insurance companies. If a accidents happen today and the medical benefit which is required immediately is not parted by the company then it gives a bad impression. Financial stability is also important because when if the company is not strong enough then it will be unable to provide your amount at the time of the insurance holders.
The question is who gives all this rankings to these car insurance companies which are numerous. There are various agencies but each of them is not reliable. Some companies take money from the insurance company and then try to put there in the top of the list but there are few honest company also who give there judgment independently. One such company is J.D power and Associates they rank the automobile insurance companies of America on the basis of variety of coverage they provide, the billing process and the agility with which they reaches there customers. Other than such companies the insurance department of every state gives such raking to the car insurance companies. Media is another example which keeps on giving ratings to the auto insurance providers.