ERIE, Pa., April 25, 2014 /PRNewswire/ -- For the second year in a row, Erie Insurance received top honors on the J.D. Power's Insurance Shopping StudySM. The annual study evaluates the experience of customers buying a new car insurance policy. This is the eighth year J.D. Power has produced its auto insurance shopping study and the fifth time ERIE has ranked highest. The other years were 2008, 2009, 2010 and 2013.
"To sit atop J.D. Power's Insurance Shopping Study two years in a row makes clear the importance of an insurance agent in the shopping experience. In a world dominated by online transactions, nothing trumps the impact of real people helping real people with real problems," said Terry Cavanaugh, president and CEO of Erie Insurance. "We're honored to have received this distinction two years in a row."
The 2014 Insurance Shopping Study examines the purchasing behaviors and overall satisfaction of people who shop for car insurance. Three factors are measured to determine overall satisfaction. They are, in order of importance: price, distribution channel and policy offerings.
"Our agents and employees are our greatest strength," said Cavanaugh. "They are the face of Erie Insurance in the local community. Our strong relationship with them is what helps us continue to grow our brand and earn our reputation for quality products and superior customer service. In fact we have gained market share in each of our major property and casualty product lines in each of our states over the past five years. That tells me that not only is the shopping experience outstanding, but that the consumer understands that being an ERIE customer is an unparalleled experience."
To learn more about the J.D. Power 2014 Insurance Shopping 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 4.8 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 award for "Highest in Customer Satisfaction with the Auto Insurance Purchase Experience" in 2014 and is proud to be 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).