USAA ranks first in customer satisfaction among the top 15 U.S. property insurers, according to research from customer engagement company Verint.
USAA earned its No. 1 spot with a customer satisfaction (CSAT) score of 83.7. State Farm came in second with 81.7, followed by Allstate with 81.1, American Family Insurance with 80.9 and GEICO with 79.7 to round out the top 5.
The difference between the highest and lowest CSAT score was only 8.5 points, Verint noted, which suggests that the top 15 insurance companies are highly competitive.
USAA also scored highest when it came to Net Promoter Score (NPS), a customer’s intent to recommend a company. USAA earned an NPS score of 43.0, followed closely by State Farm at 41.6. Verint noted that there was a significant disparity in NPS among the top 15 U.S. property insurers, with Auto-Owners Group coming in last with a score of 6.7.
Some takeaways from the report:
- The importance of “ease of doing business” spans demographics. Consumers of all ages want their insurer to provide a seamless customer experience and coverage that is easy to understand.
- Good customer service was the most important factor when choosing an insurer, followed by security of personal information and premium price.
- The phone experience still matters. Calling to speak to a representative is a top preferred engagement channel for most generations. When it comes to filing a claim, 42 percent of respondents said they would contact the insurer via phone, compared to 21 percent who would choose to use the website. Phone is also the first choice when it comes to customer support, with 42 percent of respondents choosing that option vs. 20 percent who prefer website. Customers who have difficulty on other channels will phone for assistance, Verint noted.
“Our research shows that there is no one-size-fits-all when it comes to providing good customer service. Meeting customers where they want to interact, on their time and in their preferred channels is of critical importance because today’s customer journey is omnichannel,” said Verint’s Eric Head, vice president, go-to-market strategy, Experience Management.
The top 15 property insurance providers in the U.S. were selected according to the National Association of Insurance Commissioners (NAIC) based on market share. To rank satisfaction, Verint measured customers’ overall satisfaction with their property insurance policy, how well the policy met expectations, and how it compared to an ideal policy.