USAA and State Farm Lead Insurance Industry in Customer Experience

March 12, 2015 Leave a comment

We recently released the 2015 Temkin Experience Ratings that ranks the customer experience of 293 companies across 20 industries based on a survey of 10,000 U.S. consumers.

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.

Here are some additional findings:

  • The top- and bottom-rated insurers have stayed relatively steady over the history of the Ratings. For the past five years, USAA has earned the top spot while State Farm has consistently come in a close second. 21st Century has spent the last four years as the lowest-rated insurance carrier.
  • Of the fourteen insurers that we evaluated in both 2014 and 2015, American Family increased its score the most, going up five percentage-points from last year. Progressive is the only other insurer whose rating increased between 2014 and 2015, while GEICO’s score stayed the same and the eleven other insurers’ ratings declined.
  • USAA’s effort rating declined more than any other insurer’s in the past year, dropping from 86% in 2014 to 77% in 2015. Progressive’s effort rating, on the other hand, increased the most, going up from 71% in 2014 to 76% in 2015.
  • MetLife and AAA’s emotion ratings declined the most in the past year, each dropping by seven percentage-points, while American Family’s emotion rating increased the most of any insurer’s, going up from 46% in 2014 to 50% in 2015.
  • The industry average declined in all three TxR component scores, down one percentage-point in success to 71%, two percentage-points in effort to 71%, and two percentage-points in emotion to 55%.

1503_InsuranceTxRoverview 1503_InsuranceTxRcomponents 1503_InsuranceTxRchanges

The bottom line: USAA continues to set the pace in customer experience.

 

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About Bruce Temkin, CCXP
I'm an experience (XM) management catalyst; helping organizations improve results by engaging the hearts and minds of their employees, customers, and partners. I enjoy researching and speaking about these topics. I lead the Qualtrics XM Institute, which is the world's best job. We're igniting a global community of XM Professionals who are inspired and empowered to radically improve the human experience. To achieve this goal, my team focuses on thought leadership, training, and community building. My work is driven by a set of fundamental beliefs: 1) Everything starts and ends with human beings, so you need to understand how people think, feel, and behave; 2) XM is a discipline that needs to be woven throughout an organization's entire operating fabric; and 3) Building the XM discipline requires a combination of culture, competency, and technology.

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