MILWAUKEE, WI (February 22, 2007) – Northwestern Mutual again enjoys the highest customer satisfaction score among U.S. life insurers, according to the American Customer Satisfaction Index’s (ACSI) report issued today. This is the fourth 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 fourth quarter 2006 study focuses on insurance companies, retail trade, e-commerce, and banks. The survey results were released just as Northwestern Mutual prepares to celebrate its 150th anniversary on March 2nd, the date the company was founded.
“Customer satisfaction has been a hallmark of our success for 150 years,” says Edward J. Zore, President and Chief Executive Officer. “Early in our history we set a goal to consistently provide excellent service and benefits to our policyowners. The survey results confirm that we are achieving our goal and doing what’s right for our customers.”
Northwestern Mutual tied MetLife with an industry leading score of 78, making it the fourth straight year Northwestern Mutual has received this score and led the life insurance industry. ACSI scores are determined by surveying a sample of each company’s insurance policyowners and clients of its investment products and services.
The ACSI study tracks the attitudes of 75,000 customers of products from more than 200 companies on service, quality, value, expectations and loyalty. Other industry leading companies in the survey are Berkshire Hathaway Inc. for property and casualty insurance, Charles Schwab for internet brokerage, Wachovia Corporation for the banking industry, Kohl’s Corporation for department stores, Barnes & Noble’s web site ‘barnesandnoble.com’ for retail e-commerce and eBay Inc. for auctions.
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.
The Northwestern Mutual Life Insurance Company, Milwaukee, WI (Northwestern Mutual) is the market share leader for total individual life insurance premiums of any company in the U.S. life insurance industry. Northwestern Mutual and Northwestern Long Term Care Insurance Company maintain the highest available insurance financial strength ratings from all four major rating agencies: Standard & Poor's, Fitch Ratings, A. M. Best and Moody’s.
For 23 years, a FORTUNE magazine survey has named Northwestern Mutual the “Most Admired” company in its industry and in 2006 the company was recognized as one of the “50 Best Companies to Sell For,” by Selling Power magazine.
The company, its subsidiaries and affiliates are providers of life insurance, long-term care insurance, disability insurance, annuities, mutual funds, and employee benefit services to the group employee and executive markets. These products and services are distributed through the representatives of the Northwestern Mutual Financial Network. Among Northwestern Mutual’s affiliated companies are those that comprise the Russell Investment Group, which provide investment management and advisory services; Northwestern Mutual Investment Services, LLC (NMIS), a wholly-owned company of Northwestern Mutual, broker-dealer and member NASD and SIPC; and Northwestern Mutual Wealth Management Company, a wholly-owned company of Northwestern Mutual, limited purpose federal savings bank and a registered investment adviser which provides financial planning, investment management and trust services. A subsidiary, Northwestern Long Term Care Insurance Company, offers long-term care insurance. Further information on Northwestern Mutual can be found at: www.northwesternmutualnews.com.
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