State Farm is a group of insurance and financial services companies in the United States.
The group's main business is State Farm Mutual Automobile Insurance Company, a mutual insurance firm that also owns the other State Farm companies. The corporate headquarters are in Bloomington, Illinois.
State Farm is ranked 44th in the 2013 Fortune 500, which lists American companies by revenue.
In 2014, the company sold its Canadian operations to the Desjardins Group, which is continuing to use the State Farm name.
| Number of locations | 18,000 agents 343 claim offices 30 operations centers |
|---|---|
| Key people | Michael Tipsord (Vice-Chairman of the board & CEO) |
| Divisions | Insurance; mutual funds; State Farm Bank |
| Founded | June 7, 1922; 94 years ago (1922-06-07) |
| Services | Insurance, Banking, Investing |
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 / Car Insurance is 58.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If State Farm 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 State Farm 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 |
|---|---|
| State Farm | 60 |
| CoverHound | 85 |
| Travelers | 28 |
| Score | Date | Source |
|---|---|---|
|
60
|
2014-03-13 | http://customergauge.com/news/2014-net-promoter-benchmarks/ |
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