ProAssurance Corporation, headquartered in Birmingham, Alabama, is a property and casualty company that sells professional liability insurance to doctors. The company was founded in 1976 as Mutual Assurance and was later renamed to Medical Assurance in 1997. The name "ProAssurance" was created in 2001 when Medical Assurance merged with Professionals Group. The company is currently the fifth largest medical professional liability insurance writer and has over $5 billion in assets.
On November 7, 2005, the company sold its personal lines insurance operations, known as MEEMIC Insurance Company, to Ally Financial for $400 million. Of the $400 million, $327 million was to be paid in cash, and $73 million was to be in capital that was held in MEEMIC. The sale was completed on January 4, 2006.
The company operates five principal subsidiaries: ProAssurance Indemnity Company, ProAssurance Specialty Insurance Company.
On April 1, 2009, the Podiatry Insurance Company of America joined the ProAssurance organization. PICA is domiciled in Illinois and its offices are in Brentwood, Tennessee.
|Key people||W. Stancil Starnes, Chief Executive Officer Edward L. Rand Jr., Chief Financial Officer|
|Industry||Property & Casualty Insurance|
|Traded as||NYSE: PRA S&P 600 Component|
|Headquarters||Birmingham, Alabama USA|
|Revenue||$870 million USD (2016)|
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.
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 Finance / Property-Casualty Insurers 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 ProAssurance Corporation 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 ProAssurance Corporation 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 ProAssurance Corporation based on the publicly available information
including the sentiment of the company-related tweets, 3rd party reviews, and Alexa ratings.