New York Life Insurance Company is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, ranking #61 on the 2016 Fortune 500 list, with about $550 billion in total assets under management, and more than $21 billion in surplus and AVR. In 2007, NYLIC achieved the best possible ratings by the four independent rating companies. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
| Headquarters | New York Life Building New York City, New York, U.S. |
|---|---|
| Key people | Ted Mathas, CEO and Chairman |
| Industry | Insurance: Life & Annuity |
| Revenue | $27.29 Billion USD (2014) |
| Net income | $2.024 Billion USD (2014) |
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 / Health and Life Insurance is 43.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If New York Life 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 New York Life 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.
How are your customers satisfied depending on:
| Company | Score |
|---|---|
| New York Life | 35 |
| Humana | 32 |
| Kaiser Permanente | 31 |
| Liberty Mutual | 14 |
| LTC Consumer | 59 |
| PlanSource | 67 |
| CIGNA | -1 |
| Westfield Health | 71 |
| Qliance | 79 |
| Score | Date | Source |
|---|---|---|
|
35
|
2014-03-13 | http://customergauge.com/news/2014-net-promoter-benchmarks/ |
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