Third consecutive annual increase in positive answers to “The Ultimate Question” reflects positive partnerships and a willingness to recommend State National to others
(PRUnderground) February 13th, 2020
State National Companies’ Portfolio Protection Net Promoter Score (NPS) continues to climb upward year over year, reaching +77 for 2019.
This heightened metric reflects State National’s dedication to continual improvement of the customer experience, with a goal of building long-term partnerships through technology and innovation, ease of use, transparency, and superior service.
State National’s score remains between “excellent” and “world class” and is more than double the average for the insurance services industry; it is higher than Apple, Amazon, and American Express. In the last three years, State National’s score has increased by nine points. Last year, over 75 percent of its clients completed the survey.
How do related industries as a whole compare when it comes to NPS?
- The auto insurance industry has a score of +43
- Overall the insurance industry has a score of +31
- The financial services industry averages a +45
- B2B service providers overall average a score of +69
State National surpasses these industry averages with its favorable score of +77.
The NPS score is a highly regarded benchmark that measures an organization’s customer loyalty by determining a client’s willingness to recommend a company’s products or services to a friend or colleague. This standardized measure allows for comparisons within and across industries and is used by companies to evaluate and improve customer service and retention. Over two-thirds of Fortune 1000 companies rely on Net Promoter Scores to gauge customer satisfaction, as statistically there is a strong correlation between NPS scores and overall revenue growth.
“Knowing that the vast majority of our client business partners feel so positively about State National and are willing to recommend us as a trusted resource is something we deeply appreciate,” said Matt Freeman, President and CEO of State National Companies. “The fact that our NPS score continues to rise is a visible sign of how seriously everyone in the company takes our commitment to providing the very best service to our client partners every single day.”
About State National Companies
State National Companies, Inc. is a leading specialty provider of property and casualty insurance services operating in two niche markets across the U.S. In its Lender Services segment, the company specializes in providing portfolio protection solutions that insure autos, mortgages, and other collateral for loans made by credit unions, banks, and specialty finance companies. In its Program Services segment, the company leverages its ”A” (Excellent) A.M. Best rating, expansive licenses, and trusted reputation to provide access to the U.S. property and casualty insurance market in exchange for ceding fees. State National Companies is a division of Markel, a Fortune 500 holding company for insurance, reinsurance, and investment operations. To learn more, please visit statenational.com and connect on LinkedIn.
Original Press Release.
