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January 9, 2012updated 13 Apr 2017 8:46am

Smaller US life insurers win in the customer satisfaction stakes

Smaller is better, or at least that is the broad opinion of Americans when it comes to their level of satisfaction with life insurers reveals the latest American Customer Satisfaction Index (ACSI) compiled by the University of Michigans 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

By LII editorial

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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