FM Global is a Johnston, Rhode Island-based mutual insurance company, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk property insurance market sector. "FM Global" is the communicative name of the company, whereas the legal name is "Factory Mutual Insurance Company". FM Global has been named the "Best Property Insurer in the World” by Euromoney Magazine.
The company employs a non-traditional business model whereby risk and premiums are determined by engineering analysis as opposed to historically based actuarial calculations. This business approach is centered on the belief that property losses can be prevented or mitigated. FM Global engineering personnel regularly visit insured locations to evaluate hazards and recommend improvements to their property or work practices to reduce physical and financial risks if a loss occurs.
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Insurance: Property and Casualty (Stock) is 0.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If FM Global sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of FM Global with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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We have estimated the Net Promoter Score of FM Global based on the publicly available information
including the sentiment of the company-related tweets, 3rd party reviews, and Alexa ratings.