ERIE, Pa. (Sept. 3, 2013) - Erie Insurance has ranked highest on J.D. Power's first Small Business Commercial Insurance Study, which evaluates small business owners' satisfaction with commercial insurance policies. To complete its study, J.D. Power analysts measured responses from more than 3,700 participants about 23 small business commercial insurance providers.
"Purchasing small business insurance can be complex, but having an insurance agent to guide you through the process makes it much easier and provides considerable peace of mind. Interaction - in our case, with our independent agents - was one of the major evaluative criteria for this study. It shows the important role agents play when it comes to shopping for, buying and owning commercial insurance," said Terry Cavanaugh, president and CEO of Erie Insurance. "Receiving this recognition, especially after being ranked 'Highest in Customer Satisfaction with the Auto Insurance Purchase Experience' by J.D. Power early this year, shows how ERIE's efforts to provide the best customer service experience in our industry pays off."
The 2013 Small Business Commercial Insurance Study measured five factors to determine overall satisfaction. Those factors were: price, payment/billing, policy offerings, claims and interaction (agent, broker, customer service representative and web). Erie Insurance ranked among the top three highest performers in all five factors, achieving the highest score for interaction and policy offerings - the two most important drivers of satisfaction.
To learn more about the J.D. Power 2013 Small Business Commercial Insurance Study, visit www.jdpower.com.
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 14th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 18th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has nearly 4.7 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 and Barron's 500 company. Erie Insurance is proud to have received the J.D. Power and Associates' award for "Highest in Customer Satisfaction with the Auto Insurance Purchase Experience" and to be a J.D. Power and Associates' 2012 Customer Service Champion. ERIE is one of only 50 U.S. companies so named. Erie Insurance is also recognized on the list of Ward's 50 Group of top performing insurance companies, which analyzes the financial performance of 3,000 property and casualty companies and recognizes the top performers for achieving outstanding results in safety, consistency and financial performance over a five-year period (2008-2012).
News releases and more information about Erie Insurance Group are available at www.erieinsurance.com.