Nationwide, one of the strongest, diversified, Fortune 100 insurance and financial services companies, announced that Nationwide annuities ranked No. 1 in the J.D. Power 2020 U.S. Life Insurance Study. Nationwide ranked No. 3 for its Individual Life products.
"Nationwide has a deep commitment to protecting people, businesses and futures with extraordinary care, so we take great pride in ranking No. 1 for overall satisfaction in the J.D. Power 2020 Study," said Eric Henderson, president of Nationwide's Annuity business. "Nationwide exists to serve our customers, and their satisfaction remains the greatest measure of our success."
Nationwide annuities tied for first place out of 15 competitors and ranked first or second across three out of five factors. Nationwide demonstrated strength and scored significantly above the industry average in every category, including product offerings, interaction, statements, price and communication. The company earned an overall satisfaction score of 802 on a 1,000-point scale.
"Right now, Americans face intense volatility impacting their retirement security, and we are focused on the right priorities to help them feel more confident about achieving their long-term retirement income goals," Henderson continued. "Confronting the outsized challenges of the pandemic, we made strategic product changes that helped us balance growth with customer value, enhance our self-service capabilities and optimize for a virtual environment."
Nationwide's No. 3 ranking for Individual Life was an improvement from the No. 6 position in 2019, driven by improved scores in practically every category.
"Our top quartile position reflects some of the investments we've made in transforming our Life business, always keeping the customer at the center of our thinking and ensuring we continue to deliver extraordinary care," said Holly Snyder, President of Nationwide's Life business. "Additionally, process and technology improvements enabled us to respond quickly with customer focused solutions, especially during these challenging times."
This year's J.D. Power U.S. Life Insurance study was fielded between June and August 2020. The official J.D. Power 2020 Individual Annuity Study press release can be viewed here.
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.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.
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