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When it comes to insurance carriers, Temkin Group recognizes that customer experience is of the utmost importance. In light of this philosophy, the market research company recently recognized top CX providers in the industry. According to the “2016 Temkin Experience Ratings” report, USAA, State Farm, and The Hartford lead the way in giving clients the top-notch experience they’ve come to demand.
Reaching the top spot in the insurance ranking for a sixth straight year, USAA earned an overall ranking of 28th across all industries. With a Temkin Experience Rating of 68%--measured through a survey of 10,000 U.S. customers—State Farm and The Hartford tied for the runner-up prize.
“When it comes to delivering excellent customer experience, USAA and State Farm continue to set the bar for the rest of the insurance industry,” stated Bruce Temkin, managing partner of Temkin Group.
The survey asked customers to rate companies based on several qualitative metrics, including success (are customers able to do what they need to?), effort (the ease of interacting with the brand), and emotion (how customers generally feel while interacting with the company).
Disappointingly, only one insurance carrier—Nationwide—was able to improve its Temkin Experience Rating compared to last year’s report. The company does, indeed, seem to be in “Good Hands,” as it was able to move into a respectable 110th place in the overall rank.
At the other end of the spectrum, 21st Century and American Family were found to have the lowest rankings among carriers; the two tied with a score of 47%.
The industry average of 61% puts insurance in a solid 7th ranking when compared to 19 other rated industries, but falls short of the 66% it achieved in last year’s report, demonstrating a marked drop in customer experience. American Family and AAA showed the most decline, with their scores dropping by 14 and 9 points, respectively. Geico and Allstate also experienced a slide in their respective ratings, each falling five points.
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