1、ACSI ABOUT ACSI The American Customer Satisfaction Index (ACSI) is a national economic indicator of customer evaluations of the quality of products and services available to household consumers in the United States. The ACSI uses data from interviews with roughly 250,000 customers annually as inputs

2、 to an econometric model for analyzing customer satisfaction with more than 380 companies in 46 industries and 10 economic sectors, including various services of federal and local government agencies. ACSI results are released throughout the year, with all measures reported on a scale of 0 to 100. A

3、CSI data have proven to be strongly related to several essential indicators of micro and macroeconomic performance. For example, firms with higher levels of customer satisfaction tend to have higher earnings and stock returns relative to competitors. Stock portfolios based on companies that show str

4、ong performance in ACSI deliver excess returns in up markets as well as down markets. At the macro level, customer satisfaction has been shown to be predictive of both consumer spending and GDP growth. American Customer Satisfaction Index 2018 ACSI LLC. ALL RIGHTS RESERVED. November 13, 2018 ACSI FI

5、NANCE & INSURANCE REPORT 2018 INDUSTRY RESULTS FOR: Banks Credit Unions Health Insurance Property & Casualty Insurance Life Insurance Internet Investment Services Financial Advisors Life Insurance 80 +2.6% Health Insurance 73 0.0% Banks 81 0.0% Credit Unions 81 -1.2% Property & Casualty Insurance 81

6、 +1.3% Internet Investment Services 79 0.0% Financial Advisors 80 -1.2% According to new data from the American Customer Satisfaction Index (ACSI), customer satisfaction with the Finance and Insurance sector is up 1.4% to an ACSI score of 78.3 on a scale of 0 to 100a 24-year high for the sector. The

7、 sector includes seven industries: banks, credit unions, health insurance, property and casualty insurance, life insurance, internet investment services, and financial advisors. BANKS A year ago, customer satisfaction with retail banks reached an all-time high as mobile banking hit its stride. For 2

8、018, the industry maintains record-high customer satisfaction at an ACSI score of 81 and marks the first year that banks rate as high as credit unions. Credit Unions Lose Satisfaction Edge Over Banks ACSI Finance & Insurance Report 2018 ACSI 1 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIG

9、HTS RESERVED. According to customers, smaller banks still provide better, more personalized service. Regional and community banks continue to lead the category with a combined score of 84, despite slipping 1.2% from a year ago. After posting a strong gain in 2016, super regional banks are stable for

10、 a third year at 79. National banks rank lowest, retreating 1.3% to 77. Among national banks, Chase stands out as the best in customer satisfaction, as well as the only gainer in the category (+1% to 80). Chase has made significant improvements over the past four years to emerge as the top-rated nat

11、ional bank in the ACSI. In addition to its highly rated mobile banking app, Chase customers appreciate their easy access to brick-and-mortar locations and ATMsChase has more than 5,000 branches in 25 states and 16,000 ATMs nationwide. Former leader Citibank falls 2% to 79 but remains ahead of the na

12、tional bank average. Citibank has announced that it is restructuring to a regional model following reports that profitability and share deposits are lagging. Bank of America, on the other hand, comes in just below average following a 1% dip to 76. Wells Fargo remains in last place, unchanged at 74.

13、ACSI Finance & Insurance Report 2018 ACSI 2 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. Among super regional banks, Capital One and SunTrust Bank break away from the rest of the pack with matching 1% gains to tie for first place at 81. TD Bank is close behind, unchanged at

14、80, followed by three banks that match the category average. A 2% downturn for Regions Bank yields a three-way tie with U.S. Bank and BB&T (each down 1%) at 79. Citizens Bank inches up 1% to meet PNC Bank (unchanged) at 78, just below the category average. KeyBank registers the most improvement amon

15、g super regional banks with a 3% boost to 77. Fifth Third Bank falls to last place with a 1% downturn to 75. According to its customers, Fifth Third Banks interest rates are less competitive compared with most other banks. ACSI Finance & Insurance Report 2018 ACSI 3 WWW.THEACSI.ORG | INFOTHEACSI.ORG

16、 2018 ACSI LLC. ALL RIGHTS RESERVED. On average, banks provide excellent in-branch customer service as the courtesy and helpfulness of staff remains the best part of the customer experience (88). Banks have also made considerable progress with their online presence as website satisfaction improves (

17、86). In addition, mobile apps rank high in terms of quality (86) and reliability (85). On the low end, the competitiveness of interest rates remains among the worst-rated aspects of banking (74). In addition, ongoing bank closures leave customers less happy with the number and location of ATMs (-3%

18、to 73) and branches (-4% to 71). ACSI Finance & Insurance Report 2018 ACSI 4 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. ACSI Finance & Insurance Report 2018 ACSI 5 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. Looking at the customer experience acro

19、ss the three bank categories, the group of smaller regional and community banks outperforms both national and super regional banks on just about every aspect of the customer experience. According to customers, the two advantages larger national banks offer are more branches and ATMs (both 77). For m

20、obile banking, national banks do better than super regional banks, on average, but community banks still rate highest for the quality and reliability of mobile apps (both 87). CREDIT UNIONS For credit unions, a 10-year lead over banks has come to an end as customer satisfaction wanes by 1.2% to an A

21、CSI score of 81. The 2008 financial crisis was a boon for credit unions in terms of growing membership. Fed up with big banks, many customers took their business to credit unions where they received better, more individually tailored service. But with the economy much improved, there is less incenti

22、ve to join credit unionsparticularly if they no longer provide higher levels of satisfaction than banks do. Overall, in-person customer service is still slightly superior at credit unions (89) compared to banks (88). However, smaller regional and community banks outperform credit unions when it come

23、s to mobile banking. Community banks offer better quality and reliability of mobile apps (both 87) compared to credit unions (85 for quality and 83 for reliability). Across the credit union member experience, most aspects are the same or worse than a year ago. According to their members, credit unio

24、ns offer fewer financial services (83) and account information is less clear (82). In addition, it is not as easy to open new accounts or make changes (-2% to 82) and interest rates are less competitive (-3% to 77). On the other hand, call centers are improving (84), along with service speed (88). A

25、s is the case for smaller community and regional banks, the number of branch locations (-1% to 70) and ATMs (-3% to 69) are the least satisfying aspects of the credit union experience. ACSI Finance & Insurance Report 2018 ACSI 6 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. A

26、CSI Finance & Insurance Report 2018 ACSI 7 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. HEALTH INSURANCE After two years of gains, customer satisfaction with health insurance is flat at an ACSI score of 73. Health insurance is, by far, the most problematic and least satisfyi

27、ng category in the sector, in part because it is also the most complicated and controversial. It is much more difficult to deliver high-quality customer service and assess value for health insurance compared with other financial services. A year ago, large gains for Humana and Kaiser Permanente lift

28、ed them into a dead heat for the lead. Although they remain tied for the top spot, each decline by 1% to 78. According to policyholders, Kaiser Permanente is among the fastest to process claims and offers the best prescription coverage, while Humana has better access to primary and specialty care. A

29、s the trend toward consolidation in the health care sector continues, the only companies with gains in customer satisfaction are now in the process of separate mergers: Cigna and Aetna. Leading up to its merger with CVS, Aetna inches up 1% to 75. Aetna also has the top-rated mobile app in the indust

30、ry. Cigna, which is acquiring Express Scripts, posts a huge gain of 11%, moving out of last place to meet the industry average (73). Cigna also has the lowest complaint rate in the industry. Tied with Cigna, UnitedHealth is unmoved at 73, whereas Blue Cross and Blue Shield slumps to the bottom of th

31、e category with a 1% downturn to 70. Overall, the industry has improved access to primary care doctors (80), but access to specialty care remains steady at 78. Compared to other industries in the sector, health insurance mobile apps have room for improvement in terms of reliability (79) and quality

32、(78). Moreover, website satisfaction is moving in the wrong direction, down 3% to 76. Policyholders say that coverage of standard medical services is slightly better than it was a year ago (77), but prescription drug coverage is unchanged (76). The ease of submitting claims (77) and the speed with w

33、hich they are processed (75) show no improvement. ACSI Finance & Insurance Report 2018 ACSI 8 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. According to policyholders, it is difficult to understand information on insurance statements (74), and while the range of available pla

34、ns is slightly better, it still needs to improve (74). The worst aspect of health insurance, however, is speaking to call center representatives. Call center satisfaction falls 5% to 71by far the lowest score in the sector. ACSI Finance & Insurance Report 2018 ACSI 9 WWW.THEACSI.ORG | INFOTHEACSI.OR

35、G 2018 ACSI LLC. ALL RIGHTS RESERVED. PROPERTY AND CASUALTY INSURANCE After the most catastrophes since 2005, insurers exhibit strength and resilience. Policyholder satisfaction with property and casualty insurance is up 1.3% to an ACSI score of 81, and price increases have been modest and slow. Sma

36、ller insurance firms take the lead, climbing 4% to a combined score of 83. State Farm gains 3% joining AAA (-1%) in second place at 81. Nationwide is the most improved (+5% to 80), and ties with Farmers (+1%), GEICO, and Farm Bureau (both unchanged). Nationwide customers give the firm exceptionally

37、high marks for its mobile app, which allows consumers to start and process claims from their mobile devices. American Family slips 1% and Travelers drops 3% to match Allstate and Progressive (both unchanged) at 78. Liberty Mutual has the largest decline, tumbling 5% to the bottom of the category at

38、76. While Liberty Mutual scores very well for claims service and processing, policyholders dont find their services to be a good trade-off for the price. ACSI Finance & Insurance Report 2018 ACSI 10 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. Property and casualty insurers

39、earn high marks for the quality of their mobile apps (87), which are considered reliable (85). Nevertheless, website satisfaction slides to 83. Customer service staff performance for claims handling is excellent, up 2% to 86, and the speed with which claims are processed and completed shows marked i

40、mprovement (+6% to 85). Representatives have also become better at answering questions about general information, policies, and renewals (+2% to 85). Bills are easier to understand (84) and call centers have improved (82). Customers note an increase in policy discounts and rewards, but still find th

41、eir availability to be somewhat lacking (77). ACSI Finance & Insurance Report 2018 ACSI 11 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. LIFE INSURANCE Policyholder satisfaction with life insurers climbs 2.6% to an ACSI score of 80 as “hybrid” life insurance- backed long-term

42、 care policies show tremendous growth. Nearly a quarter of all new U.S. life insurance premiums paid went to policies that offer benefits for long-term care or chronic illness. New York Life is in first place after a 5% increase to 84. Mutual of Omaha improves as well, up 4% to 83 and tied with Nort

43、hwestern Mutual (unchanged). All three industry leaders earn high marks from policyholders for agent courtesy and helpfulness, as well as speed of policy approval. MetLife, which stopped selling new individual life insurance policies last year, improves customer satisfaction with its remaining polic

44、yholders by 5% to 81. The group of smaller life insurers gains 3% to 79 but stays just below the industry average. Likewise, Primerica jumps 5% to 78, matching Lincoln Financial (+3%). The remaining life insurers deteriorate. Prudential slips by 1% and State Farm by 3% to meet at 77. Allstate and Fa

45、rmers tumble to the bottom of the industry after scoring close to the industry average a year ago. Allstate drops 5% to 75 and Farmers falls 4% to 74. Both insurance providers receive low ratings for the timeliness of their policy approval process. ACSI Finance & Insurance Report 2018 ACSI 12 WWW.TH

46、EACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. Overall, policyholders are very satisfied with the apps available from life insurers. Mobile app reliability (90) and quality (89) are extremely high. Website satisfaction is unchanged at 83, and policies are approved as quickly and eff

47、iciently as a year ago (82). On the other hand, agent courtesy and helpfulness slips to 81. Policyholders note some increase in the variety of policy options (80). They also better understand how their premiums are calculated but there is room for improvement here (76). Customers still find policy d

48、iscounts to be lacking as this element slips further to 74the low point for the industry. ACSI Finance & Insurance Report 2018 ACSI 13 WWW.THEACSI.ORG | INFOTHEACSI.ORG 2018 ACSI LLC. ALL RIGHTS RESERVED. INTERNET INVESTMENT SERVICES Customer satisfaction with internet investment services is unchanged at an ACSI score of 79 despite the strength of the financial market. A 1% gain lifts Edward Jones to first place at 81. The firm is popular with new investors because it does not have an investment minimum. According to users, the Edward Jones website is easy to navigate and custom