USAA and State Farm Lead Insurance Industry in Customer Experience

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.

 

Written by 

I am an experience management transformist, helping organizations improve business results by engaging the hearts and minds of their customers, employees, and partners. My "job" is Head of the Qualtrics XM Institute. The Institute is still being established, but our goal is to help organizations around the world thrive by mastering Experience Management (XM). As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. And, as many people know, I love to speak about these topics in almost any forum. Prior to joining Qualtrics, I was managing partner of Temkin Group (leading CX research, advisory, and training firm), co-founder and chair of the Customer Experience Professionals Association (CXPA.org), and a VP at Forrester Research. I'm a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Check out my LinkedIn profile: www.linkedin.com/in/brucetemkin

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