CSO, CUNA MUTUAL GROUP, AND CHUBB TOP LIST OF MOST REPUTABLE INSURANCE COMPANIES

Health, Property and Casualty, and Life and Investment Insurance Sub-Sectors All Experience Year-over-Year Growth with Stronger Reputations in 2017

BOSTON, MASSACHUSETTS, Aug. 11, 2017 (GLOBE NEWSWIRE) -- CSO, Cuna Mutual Group, and Chubb top the 2017 list of the most reputable insurance companies in the United States, Reputation Institute announced today with the release of the 2017 US Insurance RepTrak®, the survey of insurance company reputations.
 

For an insurance company, having a strong reputation is important, because it ensures customers will do business with you, policymakers and regulators will give you license to operate, and potential employees will be more willing to work for you.

Speaking to factors influencing insurance sector reputation, Nicky McHugh, vice president and consulting director, US, for Reputation Institute said: “Volatile reputation results for the industry over the past decade clearly show how external economic and political events impact insurance sector reputation. From a reputation perspective the insurance sector is playing defense: there is an opportunity to be more proactive by addressing priority areas and aligning to factors that positively impact reputation.” McHugh added, “For an insurance company, having a strong reputation is important, because it ensures customers will do business with you, policymakers and regulators will give you license to operate, and potential employees will be more willing to work for you.”

The survey measures the US public’s perceptions of 44 major insurance companies brands. Reputation scores were based on 4,820 ratings drawn from the informed general public, with only people who were familiar with insurance organizations being qualified to answer.    

The Top 10 insurance companies in the 2017 survey are: 

1. Central States Health and Life Company of Omaha (CSO) 2. Cuna Mutual Group   3. Chubb 4. Centene Corporation     5. USAA

6. Liberty Mutual Insurance 7. The Hartford     8. Nationwide Insurance 9. Allstate 10. Aflac

The reputation of the Insurance sector has experienced significant improvement over the past two years, growing 4.8% between 2015 and 2017. The Insurance sector reputation score has increased from 64.2 in 2015, considered average, to a score of 70.7 in 2017, considered strong. Insurance sub-sectors during that time have grown stronger, including 10.4% reputation growth for Health Insurance, 5.8% growth for Property and Casualty, and 2.0% growth for Life and Investment Insurance.

“While the reputation of the Insurance sector has grown stronger in recent years, the double-digit gap in the reputations of the strongest and weakest performers indicates a wide range of possibility and increased need for individual company differentiation,” McHugh said. “The insurance sub-sectors — Health, Property and Casualty, and Life and Investment — each have unique opportunities to leverage reputation growth.”

The 2017 survey of insurance company reputations, scores, and rankings are based on more than ratings collected via an online questionnaire. They measure the general public’s perception where the company stands on seven key rational dimensions of reputation: products and services, innovation, workplace, governance, citizenship, leadership and performance. 

The full list of the most reputable insurance companies in the United States, including breakdowns of how insurance companies performed within sub-sectors, can be found online at https://www.reputationinstitute.com/US-Insurance-RepTrak  

 

About Reputation Institute

Reputation Institute’s RepTrak® methodology is the gold standard in the science of reputation. Reputation Institute helps global companies unlock the power of their reputations for competitive advantage. Reputation Institute has conducted research over the last 20 years on 7,000 companies across 40 countries developing the largest global normative database in the world on reputation management, KPI’s, benchmarks, metrics and best practices.

Learn more at: http://www.reputationinstitute.com

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