Wiring the organization with customer feedback drives customer retention and revenue
Farmers was founded in 1928 to provide a quality insurance product at a reasonable price. Today, they continue to have an unwavering commitment to uphold their founding ideals to provide industry-leading products and first-rate services to their customers. Farmers is proud to serve more than six million households with more than 15 million individual policies across all 50 states through the efforts of over 48,000 exclusive and independent agents and nearly 21,000 employees.
Farmers’ relationship with Medallia began in 2014, and the experience program they developed has grown to include both customer and employee feedback, and real-time actionable insights shared with nearly every employee, from the frontline to the C-suite.
In the first three years with Medallia, Farmers achieved a 20% increase in overall customer experience scores. This increase is a result of improvements made to key customer touchpoints across the end-to-end experience and was associated with a meaningful improvement in customer retention. Additionally, employee feedback enabled actions that have led to employee engagement.
“Medallia provided real feedback about our customers and the data is available for everybody to look at every day. The Net Promoter score data has allowed the customers to create the roadmap that works for them. We have seen a 60 percent improvement in our Net Promoter Score. As the NPS has gone up, the retention in our business has gone up.It has gone up 3 points in 3 years which is about 500 million dollars in annual revenue. I am most proud that our company has rallied behind customer experience as our core operating philosophy.”
— Jeff Dailey, CEO, Farmers Insurance Group