Insurance and Pension Firms' Service Response Times Vary Widely
Translated & summarized from Globes by baba
Israel's Capital Market, Insurance and Savings Authority's 2025 service index shows wide variations in phone response times among insurance and pension firms, from seconds to over four minutes. Yelin Lapidot Investment House was the fastest at approximately 5 seconds, while Harel Insurance Company was the slowest, with waits nearing 4.5 minutes in some categories. These response times constitute only 10% of the overall service index, with customer satisfaction and claim payments being more significant factors.
The story in 5 lines · by baba
- Insurance and pension firms' phone response times in Israel vary dramatically, from seconds to over four minutes.
- Yelin Lapidot Investment House averaged the fastest response time at approximately 5 seconds.
- Harel Insurance Company was the slowest firm, with average waits reaching nearly 4.5 minutes.
- Phone response time represents only 10% of the overall customer service index.
- Customer satisfaction and claim payments are more heavily weighted factors in the service index.
A 2025 service index by Israel's Capital Market, Insurance and Savings Authority reveals significant disparities in how quickly insurance and pension companies answer customer phone calls, with wait times ranging from seconds to over four minutes. Yelin Lapidot Investment House was the fastest, averaging about 5 seconds for its investment fund clients. Migdal also performed well, with average waits of 51 seconds for pensions, 55 seconds for provident funds, and just over a minute for life insurance. Ayalon stood out in life insurance with a 54-second wait, while Infinity also showed good response times in pensions and provident funds.
Conversely, Harel Insurance Company was the slowest across the board, averaging nearly 3.5 minutes for provident funds and around 4.5 minutes for pensions and life insurance. Altshuler Shaham Investment House was also among the slowest, with waits exceeding 3 minutes. In car and home insurance, Shlomo Insurance and Agricultural Insurance were praised for response times under a minute, followed by Phoenix and Ayalon. However, Migdal was the slowest in this category, with waits of 4 minutes, while Libra and HaKesher were just over 3 minutes.
For health insurance, Direct Insurance was the fastest with waits just over a minute, while Menora and AIG were the slowest, exceeding 4 minutes. In life insurance for death benefits, Ayalon was fastest at 54 seconds, followed by Direct Insurance and Migdal. Harel was again slowest at 4.5 minutes, with AIG at 3 minutes.
Phone response time accounts for only 10% of the overall service index. Other crucial factors include claim payments (40%) and customer satisfaction (30%) for insurance, and customer satisfaction (55%) for long-term savings. In property insurance, Direct Insurance led in satisfaction, followed by Libra and Ayalon. Menora and Wysure were rated worst. For home insurance, Agricultural Insurance led, with Phoenix and AIG also ranking high. Migdal and Menora were at the bottom. In health insurance, Direct Insurance was first, followed by Clal, with Migdal and Menora at the bottom. Ayalon led life insurance satisfaction, followed by Migdal and Phoenix, while Harel, HaKesher, Direct Insurance, and Menora were at the bottom. In pension funds, Meitav and Clal shared first place, with Phoenix third. Mor and Harel were ranked lowest, with Infinity last. Yelin Lapidot led provident funds for the 12th consecutive year, followed by Meitav and Analyst. Menora, Harel Gmul, and Infinity were at the bottom.