USAA Tops 2014 Temkin Trust Ratings
April 9, 2014 Leave a comment
We just published the 2014 Temkin Trust Ratings, the fourth year of the ratings. It uses feedback from 10,000 U.S. consumers to rate 268 organizations across 19 industries. Congratulations to USAA, which earned the top three ratings for its banking, insurance, and credit card businesses. The bottom of the ratings are dominated by TV service providers and Internet service providers. Overall, most companies and industries improved since last year.
This is the fourth year that USAA has earned the highest trust ratings. The next 10 companies on the top of the 2014 ratings are Lexus dealers, credit unions, H.E.B., Trader Joe’s, Chick-fil-A, Publix, Costco, Amazon.com. BMW dealers, and PetSmart.
At the bottom of the 2014 Temkin Trust Ratings are three TV service providers: Charter Communications, Comcast, and Time Warner Cable. These three companies also showed up in the bottom 10 for their Internet services businesses, along with HSBC (for both credit cards and banking), Qwest, and US Airways.
Here’s how the industries compare with each other:
Here are some additional analysis from the 2014 Temkin Trust Ratings:
- Led by credit cards and banking, 17 of the 19 industries improved their Temkin Trust Ratings between 2013 and 2014. Hotel chains were the only industry to experience a decline.
- The five highest rated industries are grocery chains, investment firms, insurance carriers, retailers, and auto dealers.
- The five lowest rated industries are TV service providers, Internet service providers, wireless carriers, health plans, and airlines.
- 180 companies earned higher Temkin Trust Ratings in 2014 than they did in 2013, while only 50 had lower ratings.
- The five companies with the largest improvement in Temkin Trust Ratings between 2013 and 2014 are CareFirst, T.J. Maxx, Best Buy, Cox Communications, and Apple Store.
- The six companies with the largest decline in Temkin Trust Ratings between 2013 and 2014 are Holiday Inn Express, Hyatt, Coventry Health Care, Blackboard, Travelers, and Marriott.
The data was collected from an online survey of 10,000 U.S. consumers during January 2014. Quotas were set to mirror the U.S. census data for age, income, gender, ethnicity, and geographic regions of the U.S. population.
The Temkin Trust Ratings are based on asking consumers the following question about companies with whom they’ve interacted during the previous 60 days: “To what degree do you TRUST that these companies will take care of your needs?” Potential responses range from 1= “do not trust at all” to 7= “completely trust.” Temkin Trust Rating for a company is calculated by taking the percentages of consumers who respond with a 6 or 7 and subtracting the percentage who responded with 1, 2, or 3.
You can view a sortable list of results from the Temkin Trust Ratings as well as other ratings on the Temkin Ratings website.
The bottom line: Good news: Trust is on the rise