State National Companies’ NPS Remains Industry Leading at +86
Industry: Financial Services
Net Promoter Score Reflects Customer Loyalty and Satisfaction with Company’s Portfolio Protection Services
Bedford, TX (PRUnderground) March 16th, 2022
At +86, State National Companies’ Net Promoter Score (NPS) remains at more than twice the insurance industry average and within the category of companies considered “world-class.”
The Net Promoter Score is an index used to gauge customers’ overall satisfaction and brand loyalty. The NPS ranges from -100 to 100 and measures the willingness of customers to recommend a company’s products or services to others.
“We are constantly thankful for our clients and their continued partnership and trust,” said Matt Freeman, State National’s President and CEO. “We will continue to raise the bar for ourselves and never stop improving and growing as an organization. It’s gratifying to see our dedication result in another year of a world-class service rating.”
State National’s NPS score reflects their dedication to continual improvement of the customer experience through technology and innovation, ease of use, transparency, and superior service. Their 2021 score is higher than those of top-rated USAA, Amazon, Netflix, and Starbucks.
How do related industries as a whole compare when it comes to NPS in 2021? The auto insurance industry has a score of +41; the insurance industry overall has a score of +35; banking has an average score of +34; and the financial services industry averages a +47.
The NPS score is a standardized measure used by companies to evaluate and improve customer service and retention. Over two-thirds of Fortune 1000 companies rely on NPS to gauge customer satisfaction, as statistically there is a strong correlation between NPS scores and overall revenue growth. An NPS score of 0 and above is good, above 50 is excellent, and above 80 is regarded as world-class.
“We enter into every year asking, ‘How can we continue to improve and what opportunities are we not currently taking advantage of that we should be?’” said Angi Durham, State National’s Director of Product Management. “It’s in our nature that business as usual for us means constant growth and improvement at all levels of the organization. We will continue to find new ways to impress as we keep earning our clients’ loyalty every 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.