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[STK]
[IN] INS FIN
[SU] SVY
TO BUSINESS EDITORS:
USAA and State Farm Earn Top Customer Experience Ratings for Insurers,
According to Temkin Group
WABAN, Mass., March 20, 2014 /PRNewswire/ -- USAA and State Farm
deliver the best customer experience in the insurance industry,
according to the 2014 Temkin Experience Ratings, an annual ranking of
companies based on a study of 10,000 U.S. consumers.
USAA has maintained its position as the top-rated insurer for the
fourth year in a row, earning a 78% rating and rank of 29th out of 268
companies across 19 industries. This is also State Farm's third
straight year in second place, this year earning a 74% rating and 59th
placing overall. At the bottom of the list, for the forth year in a
row, 21st Century received the lowest rating for any of the 15
insurers, landing in 232nd place. American Family has also been
steadily descending in the Ratings, declining from the second
highest-rated insurer in 2011 to the second lowest-rated insurer in
2014 with a rating of 56% and a ranking of 226th.
"When it comes to delivering excellent customer experience, USAA and
State Farm continue to set the bar in the insurance industry," states
Bruce Temkin, managing partner of Temkin Group.
Here are some additional findings from the insurance industry:
-- The ratings of all insurance carriers in the 2014 Temkin Experience
Ratings are as follows: USAA (78, State Farm (74%), GEICO (70%),
Allstate (69, The Hartford(69%), AAA (67%), Progressive (66%),
Travelers (65, Nationwide (63%), MetLife (63%), Liberty Mutual
(63, Farmers (61%), American Family (56%), and 21st Century (55%).
-- The Hartford(+7 points), Liberty Mutual (+7 points), 21st Century
(+6 points), and AAA (+5 points)improved the most between 2013 and
2014.
-- Nationwide (-5 points), American Family (-2 points), and Farmers
(-1 point)were the only insurers whose ratings declined between 2013
and 2014.
-- Overall, the insurance industry averaged a 68% rating in the 2014
Temkin Experience Ratings and tied for 6th place out of 19 industries.
Insurance is also one of the 15 industries to improve its rating over
the past year, increasing its average by 2.9 percentage points.
Now in its fourth year of publication, the 2014 Temkin Experience
Ratings examines the quality of the customer experience delivered by
268 organizations across 19 industries: airlines, appliance makers,
auto dealers, banks, car rental agencies, computer makers, credit card
issuers, fast food chains, grocery chains, health plans, hotel chains,
insurance carriers, Internet service providers, investment firms,
parcel delivery services, retailers, software firms, TV service
providers, and wireless carriers.
To generate these ratings, Temkin Group asked consumers to evaluate
their experiences with a company across three dimensions: functional
(can you do what you want to do?), accessible (how easy is it to work
with the company?), and emotional (how do you feel about the
interactions?). Temkin Group then averaged these three scores to
produce a company's Temkin Experience Rating.
In these ratings, a score of 70% or above is considered "good," and a
score of 80% or above is considered "excellent."
The 2014 Temkin Experience Ratings, along with other ratings, can be
accessed at the Temkin Ratings website, www.TemkinRatings.com.
The free report "2014 Temkin Experience Ratings" is available for
download at the Customer Experience Matters@blog
(ExperienceMatters.wordpress.com) and at the Temkin Group website,
www.TemkinGroup.com.
About Temkin Group: Temkin Group is widely recognized as a leading
customer experience research and consulting firm. Many of the world's
largest brands rely on its insights and advice to steer their
transformational journeys, and Temkin Group accelerates their results
by combining customer experience thought leadership with a deep
understanding of organizational dynamics. Rather than layering on
cosmetic changes, Temkin Group helps companies embed practices within
their culture by building four critical competencies: Purposeful
Leadership, Employee Engagement, Compelling Brand Values, and Customer
Connectedness. The firm's ongoing research identifies leading and
emerging best practices for engaging the hearts and minds of
customers, employees, and partners. For more information, contact
Bruce Temkin at 617-916-2075 or send an email.
*Customer experience matters is a registered trademark of Temkin
Group.
Read more news from Temkin Group.
SOURCE Temkin Group
-0- 03/20/2014
/Web Site: http://www.TemkinGroup.com
CO: Temkin Group
ST: Massachusetts
IN: INS FIN
SU: SVY
PRN
-- PH86664 --
0000 03/20/2014 12:30:00 EDT http://www.prnewswire.com
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