USAA and State Farm Earn Top Customer Experience Ratings for Insurance Carriers, According to Temkin Group
Fifth Annual Temkin Experience Ratings Evaluates 293 Companies Across 20 Industries
WABAN, Mass., March 12, 2015 /PRNewswire/ -- USAA and State Farm deliver the best customer experience in the insurance industry, according to the 2015 Temkin Experience Ratings, an annual customer experience ranking of companies based on a survey of 10,000 U.S. consumers.
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USAA has maintained its position as the top-rated insurer for the fifth year in a row, earning a 75% rating and ranking 52nd out of 293 companies across 20 industries. This is also State Farm's fourth straight year in second place, and this year it earned a 71% rating and placed 100th overall.
At the other end of the spectrum, 21st Century was the lowest-rated insurance carrier for the fifth year in a row, scoring 51% and placing 270th overall. Amica—a newcomer to the Ratings—received the second-lowest score in the insurance industry with a rating of 52% and an overall ranking of 264th.
"When it comes to delivering excellent customer experience, USAA and State Farm continue to set the bar for the rest of the insurance industry," states Bruce Temkin, managing partner of Temkin Group.
Overall, the insurance industry averaged a 66% rating in the 2015 Temkin Experience Ratings and tied for 7th place out of 20 industries. It was also one of the 14 industries whose ratings declined in the past year, with its average decreasing by 2.1 percentage-points.
The ratings of all insurers in the 2015 Temkin Experience Ratings are as follows: USAA (75%), State Farm (71%), GEICO (70%), The Hartford (68%), Progressive (68%), Allstate (66%), AAA (63%), Nationwide (62%), Travelers (62%), Liberty Mutual (61%), American Family (61%), Farmers (59%), MetLife (58%), Amica (52%), and 21st Century (51%).
American Family (+5 points) and Progressive (+2 points) were the only insurers to improve their ratings between 2014 and 2015, while MetLife (-5 points), AAA (-4 points), and 21st Century (-4 points) declined by the most percentage-points between 2014 and 2015.
Now in its fifth year of publication, the 2015 Temkin Experience Ratings is the most comprehensive benchmark of customer experience in the industry, evaluating 293 companies across 20 industries: airlines, appliance makers, auto dealers, banks, car rental agencies, computer makers, credit card issuers, fast food chains, health plans, hotel chains, insurance carriers, Internet service providers, investment firms, parcel delivery services, retailers, software firms, supermarket chains, TV service providers, utilities, and wireless carriers.
To generate these ratings, Temkin Group asked 10,000 U.S. consumers to evaluate their recent experiences with a company across three dimensions: success (can you do what you want to do?), effort (how easy is it to work with the company?), and emotion (how do you feel about the interactions?). Temkin Group then averaged these three scores to produce each 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." In this year's Temkin Experience Ratings, 37% of companies earned a "good" or "excellent" score, while 26% received a "poor" or "very poor" score.
The 2015 Temkin Experience Ratings, along with other ratings, can be accessed at the Temkin Ratings website, www.TemkinRatings.com.
The free report "2015 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 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 up four core 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.
SOURCE Temkin Group
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