MILWAUKEE, WI (February 27, 2008) – Northwestern Mutual again enjoys the highest customer satisfaction score among U.S. life insurers, according to the American Customer Satisfaction Index’s (ACSI) fourth quarter 2007 report. This is the fifth consecutive year that Northwestern Mutual has led its industry in the customer survey compiled by the American Society for Quality and the University of Michigan School of Business.
The ACSI’s Finance & Insurance Industry study focuses on insurance companies, retail trade, e-commerce, and banks. According to the study, customer satisfaction with the goods and services that Americans buy declined in the fourth quarter of 2007, falling to 74.9 on the ACSI’s 100-point scale, its lowest score of 2007. Northwestern Mutual, on the other hand, saw a positive 1.3 percent change over the prior year, rising to 79 out of 100.
“It’s important that we add value to every customer’s experience with us,” says Edward J. Zore, President and Chief Executive Officer. “We want them to be confident in the feeling of financial security we provide with every transaction, every phone call, and every handshake.”
Northwestern Mutual tied New York Life with an industry leading score of 79, making it the fifth straight year Northwestern Mutual has led the life insurance industry. The ACSI study tracks the attitudes of 75,000 customers of products from more than 200 companies on service, quality, value, expectations and loyalty. ACSI scores are determined by surveying a sample of each company’s insurance policyowners and clients of its investment products and services.
The ACSI is a national economic indicator of customer evaluations of the quality of products and services available to household consumers in the United States. Produced by the Ross School of Business at the University of Michigan, the American Society for Quality and CFI Group, an international consulting firm, it is updated each quarter with new measures for different sectors of the economy replacing data from the prior year. The overall ACSI score for a given quarter factors in scores from more than 200 companies in 43 industries and from government agencies over the previous four quarters. Company scores and other information about the ACSI can be found on the ACSI Website: http://www.theacsi.org/index.php?option=com_content&task=view&id=13&Itemid=31.
The Northwestern Mutual Life Insurance Company, Milwaukee, WI (Northwestern Mutual) has been helping policyowners and clients achieve financial security for more than 150 years. The company is an industry leader, with over $1 trillion of life insurance protection in force, maintains the highest available ratings for insurance financial strength from all four major rating agencies: Standard & Poor's, Fitch Ratings, A. M. Best and Moody’s.
For 24 years, a FORTUNE magazine survey has named Northwestern Mutual “America’s Most Admired” company in the life/health insurance industry. Further information on Northwestern Mutual, its subsidiaries and affiliates can be found at: www.nmfn.com.
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