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NPS Insurance Benchmarks March 28, 2010

Posted by bernardrosauer in Uncategorized.
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Satmetrix Releases 2010 Annual Net Promoter Benchmarks for Customer Loyalty 
Reports Highlight Customer Experience Rankings in Insurance
 
 
 

SAN MATEO, Calif., — March 17, 2010 — Satmetrix, the Net Promoter® company and leader in customer experience programs, today released its 2010 Net Promoter Industry Benchmarks for the insurance, financial services, airlines, telecommunications, technology, retail and online services industries. Leaders included well-known brands such as USAA, Charles Schwab, JetBlue, Verizon Wireless, Apple, Trader Joe’s, Costco and Amazon.com.

The rankings are based on survey responses from more than 19,500 U.S. consumers nationwide who had purchased products or services from each company within the previous 12 months. A company’s Net Promoter Score, or NPS®, is based on customers’ likelihood to recommend the company’s product or service. NPS is calculated as the percentage of customers who are Promoters, rating the company 9 or 10 on a zero-to-ten point scale, minus the percentage who are Detractors, rating 6 or lower. Consumers also rated each company on various aspects of customer experience including product or service features, customer service and overall value, allowing Satmetrix to analyze drivers of loyalty and performance gaps for each company.

“A company’s ability to deliver a superior customer experience relative to its industry peers is a critical indicator of customer retention and new customer acquisition through positive word of mouth,” said John Abraham, general manager of Net Promoter programs at Satmetrix. “These benchmarks allow companies to see how consumers rate them relative to their competitors when it comes to customer loyalty.”

The study encompassed 17 specific competitive sectors across seven industries. Highlights for each industry include:

  • Insurance: A significant contrast appeared between property and casualty insurers and companies offering life and health insurance. Scores in life and health were lower, particularly in the health insurance sector. Blue Cross Blue Shield of Illinois was the only health insurance company profiled with a positive NPS, scoring 5% in a sector with an average of negative 13%. CIGNA ranked last among major health insurers with an NPS of negative 28%. State Farm led the life insurance category with an NPS of 34%, more than 22 points higher than runner up New York Life, while USAA dominated the auto insurance sector at 78%, more than 37 points ahead of runner-up GEICO. In homeowners insurance, USAA scored 69%, well above Travelers, which came up last at 3%.

U.S. B2C Benchmarks

Auto Insurance    order

This report includes Net Promoter Scores and customer experience drivers for 11 Auto Insurance providers including:

  • AAA
  • Allstate
  • American Family
  • Farmers
  • GEICO
  • Hartford
  • Liberty Mutual
  • Nationwide
  • Progressive
  • State Farm U.S. B2C Benchmarks

Homeowners & Renters Insurance  order

This report includes Net Promoter Scores and customer experience drivers for 8 Homeowners and Renters Insurance providers, including:

  • AAA
  • Allstate
  • Farmers
  • Liberty Mutual
  • Nationwide
  • State Farm
  • Travelers
  • USAA

Health Insurance      order

This report includes Net Promoter Scores and customer experience drivers for 7 Health Insurance providers including:

  • AETNA
  • Anthem
  • BlueCross BlueShield of Florida
  • BlueCross BlueShield of Illinois
  • CIGNA
  • Humana
  • United Healthcare

Life Insurance          order

This report includes Net Promoter Scores and customer experience drivers for 6 Life Insurance providers, including:

  • Allstate
  • Liberty Mutual
  • MetLife
  • New York Life
  • Prudential
  • State Farm

 

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Comments»

1. Eddy - April 11, 2010

Great information you have here. I’m looking for any other insurance info, especially homeowner insurance. Keep on posting !

2. fleole.com - April 20, 2010

in my opinion, your writing is very good and very useful

3. Lonny Sehrt - April 26, 2010

Your site was extremely interesting, especially since I was searching for more info on this just sa few days ago.


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