Smaller US life insurers win in the customer satisfaction stakes

Smaller is better, or at
least that is the broad opinion of American’s when it comes to
their level of satisfaction with life insurers reveals the latest
American Customer Satisfaction Index (ACSI) compiled by the
University of Michigan’s Ross School of Business (RSB).

In its study the RSB found
that life insurers achieved an overall score of 80 out of a
potential 100 on the ACSI while smaller insurers scored an average
of 82.

The RSB noted that the
“perennial leader” among large life insurers, Northwestern Mutual,
was close behind its smaller rivals with a score of 81.

Among major life insurers New
York Life followed in second place with a score of 80, up from 77
in 2010. In third place was Prudential Financial which improved its
score from 76 in 2010 to 79. MetLife was the only major life
insurer to register a lower score, falling from 78 in 2010 to
77.

In the insurance industry,
health insurers fared worst, achieving an average score of
72.

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