American Equity Ranks in J.D. Power’s Top 3 for Customer Satisfaction
-Fixed index annuity carrier improves score and ranking for third place spot-
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Insurance Company, a leader in the sale of fixed index annuities, earned a third-place distinction for customer satisfaction in the J.D. Power 2020 U.S. Life Insurance Study. The carrier’s satisfaction index score outpaced the annuity industry average. Last year, American Equity ranked 4th in J.D. Power’s first “Overall Customer Satisfaction Index Ranking” in the annuity provider category for the U.S. Life Insurance Study.
The overall satisfaction industry average index score for annuity providers was 778 (on a 1,000-point scale). American Equity earned a score of 801, a 14-point uptick from last year, and one-point shy of the top score where there was a tie for first. Overall, all touch points led to overall good customer experience.
“American Equity was founded on the idea of great people providing great service,” said American Equity chief executive officer Anant Bhalla. “Our focus on this value has not wavered over the last 25 years in the annuity market. We are excited to see J.D. Power shine a light on this vital industry metric, and we are proud of our consistent performance here.”
To measure customer satisfaction, critical-to-customer experience factors are examined using an index model. The model identifies the dominant factors that impact customer satisfaction and behavior and provides a benchmark of excellence for each. The U.S. Life Insurance Study measures overall customer satisfaction based on performance in five factors (in alphabetical order): communication; interaction; price; product offerings; and statements.
About American Equity
American Equity Investment Life Insurance Company® is a full-service underwriter of fixed annuity products, with a primary emphasis on the sale of fixed index annuities. Headquartered in West Des Moines, Iowa, American Equity Investment Life Insurance Company is committed to providing products with integrity, as well as superior service to the agents it partners with and their policyholders. For more information, please visit www.american-equity.com.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
Vice President – Communications
American Equity Investment Life Insurance Company®