The current economic climate, an increasingly competitive marketplace, and skyrocketing ad expenditures have placed enormous pressure on auto insurers to retain customers. Therefore, it is imperative that insurers understand how effective they are at meeting customer needs and expectations and how their performance compares with competitors. Knowing what drives customer satisfaction and identifying operational strengths and weaknesses enables insurers to make informed decisions regarding where to invest resources and where to cut them in order to build loyalty among current customers and foster company growth.
The J.D. Power U.S. Auto Insurance Satisfaction StudySM describes how customer satisfaction impacts the profitability of an insurance company; examines how each service event in the relationship between a customer and their insurer impacts their overall perception of the company; and identifies critical service standards that drive higher satisfaction. The study examines customer satisfaction among auto insurance customers of the largest insurers in the United States across a number of metrics:
- Competitive benchmarking of brand value, customer experience, and customer commitment and their impact on retention and advocacy
- Critical service dimensions, such as time, frequency, and channel preferences
- Critical metrics for each customer touch point and the service levels for each measure that represent best practice performance targets for satisfying customers
- Impact of customers’ changing expectations and behaviors on policy retention and brand loyalty
Study deliverables include:
- Customized executive presentation and in-person discussion that includes data-driven, actionable recommendations for achieving such strategic goals as closing performance gaps with key competitors and/or highest performers in the study
- Competitive survey data and industry reports with regional information created by J.D. Power
- Analytical tools for performance insights and peer comparisons
- Bain Certified NPS® by J.D. Power: This independent and Bain certified measurement of NPS which includes the brand level Net Promoter Score® and verbatims, a NPS rank chart and verbatim text analytics. More advanced analytics are available at an additional cost. Contact your J.D. Power representative to learn more, or visit jdpower.com/nps
Now Available! Bain Certified Net Promoter Score® by J.D. Power
This independent, trusted, and Bain certified measure of NPS® provides brands with accurate scores they can use with confidence as they seek ways to improve the customer experience, assess their competition, increase brand advocacy, and ultimately deliver positive financial results. To access it, you must subscribe to the respective J.D. Power syndicated study. Learn more at jdpower.com/nps
Net Promoter System®, Net Promoter Score®, NPS® and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.