Survey: USAA Tops With Customers
NU Online News Service, June 26, 2:11 p.m. EST? The insurer with the best customer loyalty is USAA of San Antonio, Texas, an independent consumer survey has found.
The results were announced by Satmetrix Systems, a customer monitoring firm in Mountain View, Calif.
A spokesman for Satmetrix said major insurance providers within property-casualty, life and health segments, including all insurers listed in the Fortune 100, were in the survey. He said the rankings below number one were not available because some of the firms are Satmetrix customers who requested their data be kept confidential. USAA is not a customer.
Satmetrix, based on its survey, gave USAA its "Best Customer Satisfaction Award" for the insurance industry. USAA is the insurance and financial services association serving the military and their families.
An independent "opt-in" survey of more than 13,000 consumer respondents identified the member-owned USAA as the best in its class in the insurance industry, Satmetrix said.
The firm said USAA received a Customer Loyalty Index score of 9.03 out of a possible 10, compared with the overall insurance industry average of 7.51.
According to Satmetrix, USAA, which owns and manages more than $64 billion in assets, has a customer turnover rate so low it is "the envy of the industry."
"This award is a tribute to our employees who work hard every day to deliver outstanding service to our members: millions of members of the U.S. military and their families," said Robert G. Davis, president, chief executive officer and chairman-elect of USAA.
Satmetrix said that since it began benchmarking the insurance industry and other major vertical market categories in the fall of 2000, USAA has consistently achieved the highest levels of customer satisfaction.
Of all the nation's major carriers rated in the survey, no other insurance company but USAA scored over a nine.
"USAA clearly understands that listening and reacting to customer issues is key to success and financial growth," said Andre O. Schwager, CEO and president of Satmetrix Systems. "The company has turned its call centers and help desks into strategic listening posts to ensure the highest levels of customer satisfaction for the men and women in the U.S. armed forces and their families."
Satmetrix Systems said that an independent "opt-in" study is conducted every quarter, inviting more than 300,000 consumer and business participants to rate their customer loyalty with companies across a number of major vertical industries, including insurance, financial services, high technology, Internet services, pharmaceuticals, telecommunication, and transportation.
The Satmetrix Best Customer Satisfaction Award is granted to each vertical industry on an annual basis, and is given to the company with the highest Satmetrix Customer Loyalty Index score within its industry.
To be considered for the award, Sametrix said companies must meet certain criteria, such as a minimum number of responses and a top score higher than eight out of 10 on the Satmetrix Customer Loyalty Index.
Satmetrix Systems said its systems help companies improve business loyalty by enabling employees to act on customer feedback to deliver a superior sales and service experience.
Satmetrix said its customer loyalty index employs four key questions to measure customer loyalty:
? How satisfied are you with this provider's overall performance?
? How likely is it that you would recommend this provider to a friend or colleague?
? How likely is it that you will continue to purchase products/services from this provider?
? If you were selecting a similar provider for the first time, how likely is it that you would use this provider?
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