Category: United States

Some New Vehicle Technologies Risk Failing While Others Become “Must Have,” JD Power Finds

2020-08-18

jillian.breska

New-vehicle buyers are being offered an increasing number of advanced technology features, some of which are hits while others are currently missing the mark. The JD Power 2020 U.S. Tech Experience Index (TXI) Study,^SM released today, finds that automakers that innovate and are early to offer new technologies—so long as customers value them—stand to benefit most as those technologies enter the mainstream.

“The race never ends to develop ‘must have’ vehicle technologies,” said Kristin Kolodge, executive director of driver interaction & human machine interface research at JD Power. “New technology continues to be a primary factor in the vehicle purchase decision. However, it’s critical for automakers to offer features that owners find intuitive and reliable. The user experience plays a major role in whether an owner will use the technology on a regular basis or abandon it and feel like they wasted their money.”

The study, now in its fifth year, has been redesigned for 2020 and specifically focuses on the most advanced technologies when they are first introduced in the market.

The TXI Innovation Index measures how effectively each automotive brand brings these technologies to market, measured on a 1,000-point scale. The index combines the level of adoption of new technologies for each brand with the excellence in execution. The execution measurement examines how much owners like the technologies and how many problems they experience while using them.

Following are key findings of the 2020 study:

• Sights set on creative camera views: Owners think highly of technologies that provide an “extra set of eyes” to help them drive their vehicle. Notably, owners in the luxury segment rate such technologies highest in five of the six satisfaction attributes measured in the study. Camera rear-view mirror earns the highest Execution Index score (894) among luxury owners, followed by ground view camera (884). Among advanced camera/vision technologies, camera rear-view mirror receives the highest overall execution in the mass market segment (889), followed by transparent trailer view (874) and ground view camera (858). High percentages of owners who have these three features say they “definitely will” want these features on their next vehicle (73% for camera rear-view mirror, 62% for ground view mirror and 53% for transparent trailer view).
• Giving the finger to interior gesture controls: Among luxury owners, interior gesture controls—technology that allows the user to control various features in the vehicle using hand gestures instead of touching anything—is the lowest-rated technology by far across all satisfaction attributes. (The technology isn’t yet available in the mass market segment.) Owners who have this feature on their vehicle experience a high rate of problems (36 problems per 100 vehicles), which is more than twice the rate of the next closest technology. A high proportion (61%) of these owners use the technology less than half of the time they drive, with 14% having never tried it and 16% having tried it but no longer using it.
• Many owners don’t trust technologies necessary for more automated driving: Active driving assistance is designed so that the vehicle is able to perform functions such as acceleration, braking and steering, while the driver remains engaged in the driving task. Some drivers mention the positive experience they have from using the system (e.g., lower stress and arriving at their destination more refreshed), yet this necessary step to achieve higher levels of automated driving is failing to earn the trust of most drivers who consider it to be annoying or distracting. There is wide variation in the execution strategy across brands for how the technology works and when or why it engages. Training drivers on the proper usage of such systems is imperative to eliminate misunderstanding of the technology’s capabilities and, in many cases, this training is simply not happening.
• Tesla profiled for first time: Tesla receives an Innovation Index score of 593. The automaker is not officially ranked among other brands in the study because it doesn’t meet ranking criteria. Unlike other manufacturers, Tesla doesn’t grant JD Power permission to survey its owners in 15 states where it is required. However, Tesla’s score was calculated based on a sample of surveys from owners in the other 35 states.
   

Highest-Ranking Brands

Volvo ranks highest overall with an Innovation Index score of 617 and offers a high level of advanced technologies across its entire product lineup. In the luxury segment, BMW (583) ranks second, followed by Cadillac (577), Mercedes-Benz (567) and Genesis (559).

Hyundai ranks highest in the mass market segment with a score of 556. Hyundai offers an above average level of technologies and scores well for excellence in execution. Subaru (541) ranks second, followed by Kia (538), Nissan (534) and Ram (520).

Advanced Technology Award Recipients

The TXI Study analyzes 34 technologies, which are divided into four categories: convenience; emerging automation; energy and sustainability; and infotainment and connectivity. Only technologies classified as advanced are award eligible.

• Cadillac CT5 is the luxury model receiving the convenience award, for rear seat reminder technology. Subaru Ascent is the mass market model receiving the convenience award, for camera rear-view mirror technology.
• Cadillac Escalade and Genesis G70 both receive the luxury model emerging automation award (in a tie), for rear cross traffic warning technology. Chevrolet Camaro is the mass market model receiving the emerging automation award, also for rear cross traffic warning technology.
• Cadillac XT5 receives the infotainment and connectivity award in the luxury segment, for navigation live traffic technology. Kia Sportage receives the infotainment and connectivity award in the mass market segment, also for navigation live traffic technology.

The 2020 U.S. Tech Experience Index (TXI) Study is based on responses from 82,527 owners of new 2020 model-year vehicles who were surveyed after 90 days of ownership. The study was fielded February through May 2020.

The study, which complements the annual JD Power Initial Quality Study (IQS)^SM and the JD Power Automotive Performance, Execution and Layout (APEAL) Study,^SM is used extensively by automakers and suppliers worldwide to provide an overview of how vehicle owners perceive the advanced technology features and to help the industry address any problematic areas before the technologies are made widely available across automotive portfolios, thus improving the future owner experience.

For more information about the 2020 U.S. Tech Experience Index (TXI) Study, visit http://www.jdpower.com/resource/us-tech-experience-index-study.

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
Shane Smith; East Coast; 424-903-3665; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info

 

Vehicle Seat-Related Problems Should be Mitigated Early in Design Process, JD Power Finds

2020-08-20

jillian.breska

According to the JD Power 2020 U.S. Seat Quality and Satisfaction Study,^SM released today, vehicle owners say the leading issue with seat quality is their seats have insufficient range of adjustment—an issue that should be addressed early in the design process.

“In addition to insufficient range of adjustment, the vast majority of seat problems cited by vehicle owners are also design-related,” said Brent Gruber, senior director of global automotive quality at JD Power. “If seat manufacturers and car brands can incorporate customer feedback earlier in the design process, many of these issues can be mitigated prior to reaching the market. Specifically, brands like Chevy and BMW—which have multiple award-winning vehicles this year—have optimized relationships with their seat manufacturers to leverage quality and innovation coupled with a keen understanding of owner needs and expectations for seat comfort and adjustability.”

Seat quality is measured by the number of problems experienced per 100 vehicles during the first 90 days of ownership, with a lower score reflecting higher quality.

The 2020 U.S. Seat Quality and Satisfaction Study is based on responses from 87,282 purchasers and lessees of new 2020 model-year vehicles who were surveyed after 90 days of ownership. The study was fielded from February through May 2020.

For more information about the U.S. Seat Quality Satisfaction Study, visit https://www.jdpower.com/business/automotive/us-seat-quality-and-satisfaction-study

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler; JD Power; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: http://www.jdpower.com/business/about-us/press-release-info

 

JD Power Collaborates with Notarize to Enable Fully Digital Purchase Experience

2020-08-25

jillian.breska

As consumers search for more touchless options to complete legal transactions, JD Power and Notarize are collaborating to introduce JD Power Notarize Now, a product effectively streamlined to save time and money for auto dealers and insurers to conduct remote identity verification and transaction completion.

JD Power, a global leader in data analytics and consumer intelligence, and Notarize, the leading software platform provider for remote online notarization (RON), have identified automotive financing and insurance as key industries looking for better and cost-effective online transaction solutions.

Courtesy Chevrolet in Phoenix is using RON technology to replace timely and paper-based steps in its automotive sales process.

“Digitally closing transactions saves us a lot of time and money,” said Dora Herrmann, assistant finance manager of Courtesy Chevrolet. “Previously, it would take 4-6 days to complete a sale, with significant email back and forth and costs associated with sending paper documents for signatures. With JD Power Notarize Now we have our notarized paperwork back in about a half hour and we are saving substantial money by eliminating overnight fees.”

Even before the COVID-19 pandemic, online vehicle sales were small but growing, and more than half of shoppers surveyed said they would like to be able to buy a vehicle online.¹ Once stay-at-home mandates were instituted in March, online sales and shopper interest increased. Today, JD Power Notarize Now is an easy solution for shoppers—who want to avoid a visit to the dealership—and lenders to complete transactions requiring notarized forms.

“Consumers want an online purchase option for almost everything they buy these days,” said Chris Sutton, vice president of automotive retail at JD Power. “The digital car-buying experience has supported the shopping aspect but has fallen short on completing the transaction. This product will make the process quicker and easier for the buyer and the lender.”

“The automotive industry is the latest to embrace RON to modernize a critical element of the legal process that has not been updated to keep pace with consumer preferences,” said Pat Kinsel, founder and CEO of Notarize. “Collaborating with JD Power—the gold standard for automotive insights—brings a first-of-its-kind solution to market, and streamlines and standardizes the process for lenders, insurers and dealers. It delivers on the expectations of consumers for a fully digital experience.”

After leading a five-year campaign to build awareness for RON, Notarize is in use nationally by many of the country’s leading companies. This progress has spurred 28 states to adopt, enabling their notaries to meet and provide notarizations to consumers online. Notarize’s platform enables legal, secure notarization of transactions of vital documents using two-way audio-visual communications. It is in use by leading legal, real estate, financial and healthcare organizations to notarize documents.

Notarize is the first platform to empower thousands of people each day to sign and notarize documents online. From adopting a child to buying a home, Notarize builds trusted products and services that support life’s most important moments. As the first company in the country to enable fully online real estate closings, Notarize is used by more than 3,000 title agents, the fastest-growing national lenders, and has helped people buy and sell more than $30 billion in real estate—entirely online. For more information on our mission, visit www.notarize.com.

JD Power is a global leader in consumer intelligence, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

For more information on JD Power Notarize Now, visit www.jdpowernotarizenow.com.

Media Relations Contacts
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
Kerry Walker, Notarize; Boston, Mass.; 617-201-7494; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info

¹JD Power 2019 New Autoshopper Study

 

Inventory Constraints Impede August Vehicle Sales; Average Vehicle Prices Reach All-Time High

2020-08-27

jillian.breska

The Retail Sales Forecast

New-vehicle retail sales in August are expected to be down from a year ago, according to a joint forecast developed jointly by JD Power and LMC Automotive. Retail sales are projected to reach 1,174,100 units, a 3.7% decrease compared with the JD Power pre-virus forecast and a 10.4% decrease compared with August 2019. Reporting the same numbers without controlling for the number of selling days translates to a decrease of 16.8% from a year ago. While the decline vs. August 2019 is substantial, it’s important to recognize that it is primarily due to the industry sales reporting calendar. August 2020 contains two fewer selling days than August 2019 and has reduced benefit from promotional activity related to the Labor Day weekend, which is after the August sales close.

The Total Sales Forecast

Total sales in August are projected to reach 1,316,000 units, a 13.7% decrease from August 2019. Reporting the same numbers without controlling for the number of selling days translates to a decrease of 19.9% from August 2019. The seasonally adjusted annualized rate (SAAR) for total sales is expected to be 15.1 million units, down 2.0 million units from a year ago.

The Takeaway
Thomas King, president of the data and analytics division at JD Power:

“Given the ongoing disruption that COVID-19 has on the industry, the fact that retail sales of new vehicles are only 4% below the pre-virus forecast is evidence of strong consumer demand for vehicles. The modest decline also is a result of significant inventory constraints. These constraints are directly curtailing sales where vehicles are not simply available and are creating follow-on effects that are affecting overall volumes. Specifically, the constraints mean that manufacturers are reducing vehicle incentives while dealerships are reducing the discounts off MSRP that they have historically needed to offer.”

While inventory levels are low, newly produced vehicles are arriving at dealerships daily and are selling quickly with lower discounts. Nearly 45% of all vehicles sold in August will spend fewer than 20 days on dealer lots, up from 35% last year. This is helping retailers to post significant growth in margins on new-vehicle sales. Total grosses per unit, inclusive of finance and insurance incomes, are on pace to reach $2,064, an increase of $759 from last year.

Incentive spending is also expected to fall to the lowest level since July 2019. Spending is on pace to reach $4,105, a decrease of $49 from last year and a decrease of $848 from the peak spending levels in April 2020. This month also represents the first time the industry will post a year-over-year decline in 16 months. Spending on cars is expected to be up $22 to $3,709, with trucks and SUVs down $99 to $4,226. Reporting spending expressed as a percentage of the average vehicle MSRP is 10%, down 0.5 percentage points from last year.

—–

For the fifth consecutive month, trucks/SUVs are on pace to account for more than three-fourths of retail sales. The continued shift towards more expensive trucks/SUVs continues to support record transaction prices in August. Transaction prices are expected to rise 7.0% to $35,420, the highest level ever for any month. Lower interest rates are helping to mitigate some of the increases in overall prices, as the average interest rate for loans in August is 4.5%, down 100 basis points from a year ago. Over the same time, the average monthly finance payment is up only $19 to $584, while the average finance term length is up only one month to 70 months.

Consumers are expected to spend $41.6 billion on new vehicles in August, a decline from a year ago but the highest level since December 2019. This represents a decline of $5.1 billion or 10.9%.

—–

Looking ahead to September, a quirk in the calendar may provide some additional benefit to sales for the month. The Labor Day weekend, a period with heavy sales promotion activity, occurs one week later than it typically falls in the month. “The unusual gap between the August close and Labor Day weekend means there is the potential for higher-than-average promotional activity and, therefore, stronger sales,” King said. “Consumer demand coupled with any inventory improvement could help the industry take another step forward in the recovery.”

Sales & SAAR Comparison
JD Power U.S. Sales and SAAR Comparison

	August 20201	July 2020	August 2019
New-Vehicle Retail Sales	1,174,100 units (-10.4% lower than August 2019)2	1,102,713 units	1,411,247 units
Total Vehicle Sales	1,316,000 units (-13.7% lower than August 2019)2	1,237,839 units	1,642,499 units
Retail SAAR	12.6 million units	12.6 million units	13.7 million units
Total SAAR	15.1 million units	14.6 million units	17.1 million units

¹Figures cited for August 2020 are forecasted based on the first 19 selling days of the month.

²August 2020 has 26 selling days, two less than August 2019.

The Details

• The average new-vehicle retail transaction price in August is expected to reach a record $35,420. The previous high for any month, $35,220, was set in July 2020.
• Average incentive spending per unit in August is expected to reach $4,105, down from the previous record for the month of $4,154, set in August 2019. Spending as a percentage of the average MSRP is 10.0%, down 0.5 percentage points from a year ago.
• Incentive spending on cars is expected to be up $22 to $3,709, while spending on trucks/SUVs is down $99 to $4,226.
• Consumers are on pace to spend $41.6 billion on new vehicles, down $5.1 billion from August 2019.
• Truck/SUVs on pace to account for 76.2% of new-vehicle retail sales, the highest level ever for the month of August.
• Fleet sales are expected to total 141,900 units, down 34% from August 2019. Fleet volume is expected to account for 11% of total light-vehicle sales, down from 14% a year ago.

Global Outlook for August 2020
Jeff Schuster, president, Americas operations and global vehicle forecasts, LMC Automotive:

“The global auto sales recovery is accelerating. Strong wholesale demand in China—up 13.4% from July 2019—is leading the way. Overall, light-vehicle demand was down just 4.6%, helped further by a nearly flat European market that was down just 0.3%. The United States, Canada, Japan and India showed marked improvement, remaining well off the April trough. Wild cards for the remainder of the year include the U.S. presidential election, financial stimulus programs and any specific vehicle purchase incentives, so uncertainty is still at an elevated level.

“Global light-vehicle sales YTD through July are down 24% from the same period in 2019, an improvement of 3 percentage points from last month. Given the stronger-than-expected performance in July and mounting widespread recovery prospects, the global outlook for 2020 has again been increased to nearly 75 million units. This brings the decline from 2019 to just 17% compared with an expected 26% decline that was projected back in April.”

Media Relations Contacts
Geno Effler; JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
Emmie Littlejohn; LMC Automotive; Troy, Mich.; 248-817-2100; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info

About LMC Automotive www.lmc-auto.com

 

Gas Utility Residential Satisfaction at All-Time High Despite Pandemic, JD Power Finds

2020-08-31

jillian.breska

TROY, Mich.: 2 Sept. 2020 — In the face of natural disasters and the COVID-19 pandemic, gas utility companies and their workers function as perceived first responders and helpers, contributing to higher customer satisfaction, according to the JD Power 2020 Gas Utility Residential Customer Satisfaction Study,^SM released today.

“Natural gas utility companies have put forth enormous effort to assist their customers, especially during this challenging time, by way of proactive communications on topics such as financial assistance to help educate customers,” said Carl Lepper, director of the utility practice at JD Power. “The biggest change in satisfaction is seen in brand image, which means the assistance efforts have not gone unnoticed by customers, despite increased use, therefore costs.”

Study Results

• East Large Segment: New Jersey Natural Gas (for sixth consecutive year)
• East Midsize Segment: Elizabethtown Gas (for sixth consecutive year)
• Midwest Large Segment: DTE Energy
• Midwest Midsize Segment: Atmos Energy
• South Large Segment: Oklahoma Natural Gas
• South Midsize Segment: TECO Peoples Gas (for eighth consecutive year)
• West Large Segment: Southwest Gas
• West Midsize Segment: Intermountain Gas Company

The 2020 Gas Utility Residential Customer Satisfaction Study is based on responses from 60,096 online interviews conducted from September 2019 through July 2020 among residential customers of the 83 largest gas utility brands across the United States, which represent more than 62.9 million households.

For more information about the Gas Utility Residential Customer Satisfaction Study, visit https://www.jdpower.com/business/resource/us-gas-utility-residential-customer-satisfaction-study.

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: http://www.jdpower.com/business/about-us/press-release-info

 

Top 10 Problems Affecting Automotive Multimedia Experience are Design-Related, JD Power Finds

2020-09-10

jillian.breska

TROY, Mich.: 10 Sept. 2020 [Rank charts updated 14 Sept. 2020] — With the top 10 problems with automotive multimedia systems being design-related, owner satisfaction with such systems is among the least satisfying aspects of the vehicle experience, according to the JD Power 2020 U.S. Multimedia Quality and Satisfaction Study,^SM released today.

“The majority of frequently occurring problems with multimedia and infotainment systems are design-related issues, many of which could be addressed through software updates to work out the bugs,” said Brent Gruber, senior director of global automotive quality at JD Power.

While upgradeability and software updates can keep multimedia systems relevant and problem free, the study finds that over-the-air (OTA) updates can create more problems and be a big source of dissatisfaction. Study data shows that owner satisfaction drops by 173 index points (on a 1,000-point scale) when OTA problems are experienced.

“This is very concerning considering the rapid growth of remote update capabilities for multimedia and infotainment systems,” Gruber said. “In theory, the added convenience of fixing notable industry problems on the fly sounds great, but manufacturers need to ensure that the solution isn’t creating more headaches for owners in an area that is already highly problematic.”

Top-performing vehicles in each segment are as follows:

• Midsize/Large: Dodge Challenger
• Midsize/Large Premium: BMW X6
• Small/Compact: Nissan Sentra
• Small/Compact Premium: Genesis G70

The 2020 U.S. Multimedia Quality and Satisfaction Study is based on responses from 87,282 purchasers and lessees of new 2020 model-year vehicles who were surveyed after 90 days of ownership. The study was fielded from February through May 2020.

For more information about the U.S. Multimedia Quality and Satisfaction Study, visit: https://www.jdpower.com/business/automotive/us-multimedia-quality-and-satisfaction-study.

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; 714-621-6224; [email protected]
Shane Smith; East Coast; 424-903-3665; [email protected]

About JD Power and Advertising/Promotional Rules: http://www.jdpower.com/business/about-us/press-release-info

 

Home Insurance Customer Service and Reputation—Not Price—Drive Lifetime Customer Value, JD Power Finds

2020-09-16

jillian.breska

The median age of first-time home buyers has increased to 33 years, the oldest age on record since the National Association of Realtors began tracking this data in 1981. What’s that mean for home insurers? The battle to drive lifetime value in home insurance customer relationships now hinges on the ability to capture new customers as early as possible by converting renter insureds to homeowner insureds. According to the JD Power 2020 U.S. Home Insurance Study,^SM released today, the key to building that long-term relationship with homeowners has less to do with low price and more to do with great service and reputation.

“Homeowners insurance customers are the single-most-valuable group of personal lines customers for P&C insurers,” said Robert M. Lajdziak, senior consultant of insurance intelligence at JD Power. “They have a significantly higher bundling rate, 38% higher product penetration beyond home and auto, and their tenure is twice the length of a monoline auto customer. The potential ‘lifetime customer value’ of homeowners makes meeting their needs and motivations to renew a critical task for the industry. This dynamic will be important to watch as insurtech start-ups—which have recently gained traction in the renters insurance marketplace by offering low prices—gear up with unique value propositions that will challenge traditional insurers that are more focused on building relationships and delivering strong customer service.”

Following are some key findings of the 2020 study:

• Customer experience is key to lifetime value: Good customer service is the single factor driving the highest level of intent to renew with an existing carrier. Two-thirds (67%) of homeowners insurance customers who’ve selected a brand based on good service experience say they “definitely will” renew with that insurer. Reputation (64%) and convenience (64%) follow as top drivers of intent to renew. Price as a reason for initial insurer selection is one of the lowest-ranked motivators driving homeowners customer retention.
• Renters more focused on price: In the renters insurance marketplace, price is a bigger motivator. The primary reason for selecting a renters insurance provider is price, according to 52% of renters insurance customers. Price is an even greater driver of provider selection among Lemonade customers, with 71% of this insurtech’s customers indicating that price influenced their carrier selection.
• Millennials heavily influenced by good service: Millennial¹customers are significantly more likely to select their homeowners insurer due to good service experience than are Boomers. Overall, 38% of Millennials say they selected their homeowners insurance carrier based on good service experience, compared with 34% among Boomers.
• Smart home technologies create opportunity: Nearly two-thirds (63%) of Millennial homeowners have smart home products, and this age group is more than twice as likely as Boomers to use insurer-provided tools to inventory their possessions. Customers who use these tools say they have a significantly higher level of engagement with their insurer, thereby creating additional opportunities to add value through good customer service.

Study Rankings

COUNTRY Financial ranks highest in the homeowners insurance segment, with a score of 855 (on a 1,000-point scale), performing particularly well in customer relationship-related factors. Amica Mutual (853) ranks second and Auto-Owners Insurance (843) ranks third.

Lemonade ranks highest in the renters insurance segment with a score of 866, marking the first time an insurtech brand ranks highest in a JD Power insurance study. Erie Insurance (865) ranks second and Allstate (841) ranks third.

The U.S. Home Insurance Study examines overall customer satisfaction with two distinct personal insurance product lines: homeowners and renters. Satisfaction in the homeowners and renters insurance segments is measured by examining five factors: interaction; policy offerings; price; billing process and policy information; and claims. The study is based on responses from 11,942 homeowners and renters via online interviews conducted in June-July 2020.

For more information about the 2020 U.S. Home Insurance Study, visit https://www.jdpower.com/business/resource/jd-power-us-household-insurance-study.

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

¹JD Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2004). Millennials (1982-1994) are a subset of Gen Y.

 

UnityWorks Announces New Suite Of Dynamic Inventory Video Ad Solutions

2020-09-18

UnityWorks, an Autodata Solutions company, has unveiled its latest in cutting-edge technology for the automotive industry – Dynamic Inventory Video Ads that pull VINs directly from dealer inventory into various ad units on multiple media platforms. Trusted by over 7,000 dealers, UnityWorks is the industry’s leader in micro-targeted, data-driven video marketing.

These new dynamic VIN video ads complement the tried-and-true custom model video ads used daily by thousands of dealers across the country. The suite of Dynamic Inventory Video Ads is ideal for near-term, in-market buyers and for retargeting auto shoppers who have shown interest in particular models or visited the dealer’s website.

Dynamic Inventory Video Ads are available today on Google’s Display & Video 360 platform (featured on thousands of quality websites), YouTube, Facebook and Instagram. On one core media platform, these dynamic ads have demonstrated a 200+% improvement in click-through performance versus ad units that do not include VIN images or offers.

“Dealers need to move their inventory and adding this suite of VIN-level dynamic advertising to a dealer’s video strategy provides a powerful tool to drive engagement, store traffic and new car sales today,” said Tim Copacia, Executive Vice President of Strategic Development at UnityWorks. “Although click-through metrics in video advertising are a nice bonus and not the primary value of the channel, we have seen dramatic improvements in click-through performance by adding dynamic VIN images into our video ad units.”

Dynamic Inventory Video Ads on YouTube and Google start off with a model and dealer-selected offer followed by VINs directly from the dealer’s inventory. As VINs featured in the ad sell, they are automatically replaced by other new or used inventory units. Multiple exterior and interior images are presented for each VIN, and AI image recognition adjusts the photos to optimally merchandise each VIN.

Facebook VIN Carousel ads from UnityWorks are another hyper-targeted option for dealers. These 15-second dealer-branded video ads with an offer are followed by clickable images of specific VINs in stock. In-market auto shoppers can quickly swipe to view the dealer’s vehicles and click to go straight to the dealer’s VDPs. The No. 1 ad format to influence a purchase, online video prompts an impressive 75% of auto shoppers to buy, according to Google.

“For a dealership to stay on the leading edge, a comprehensive video strategy is essential for converting auto shoppers into buyers,” said Copacia. “We will continue to deliver and innovate with high-quality video content and targeted campaigns that deliver results for our dealers.”

About UnityWorks
UnityWorks, an Autodata Solutions brand, is the automotive industry’s premier provider of video marketing. Having pioneered the use of data-driven video at scale for automotive dealers, UnityWorks is widely known for creating vehicle-specific video campaigns and content that drives engagement, search lift and more sales. Learn more about Dynamic Inventory Video ads.

 

Frontline Staff Key to Top Performance in Inaugural JD Power Third-Party Hotel Management Guest Satisfaction Benchmark

2020-09-22

jillian.breska

Even in the age of digitally enabled, contactless hotel bookings and hand-sanitized check-ins, a key element driving hotel guest satisfaction with third-party management companies is staff service. That’s the central finding of the new JD Power 2020 Third-Party Hotel Management Guest Satisfaction Benchmark,^SM released today.

For the first time, JD Power evaluates guest satisfaction for the largest third-party management companies. JD Power does so by analyzing guest responses to more than 150 questions about hotel experiences and benchmarks the performance of the top 11 third-party management companies with at least 14,000 rooms under management.

“Now, more than ever, when travelers have heightened concerns about health, safety, cleanliness and availability of amenities, it’s clear that a well-trained, courteous hotel staff can define a guest experience,” said Andrea Stokes, hospitality practice lead at JD Power. “Third-party operators that employ great talent are best-equipped to provide excellent guest experiences across limited-service and full-service hotels alike. During this period when guest volume is lower than usual, hotel management companies have an opportunity to focus on staff education, review guest feedback and incorporate that feedback into training programs.”

Benchmark Rankings

Crestline Hotels & Resorts ranks highest in overall guest satisfaction, with a score of 861 (on a 1,000-point scale), performing particularly well for staff service upon guest arrival and departure and for hotel facilities (safety/security, grounds, exterior maintenance, parking, etc.). Atrium Hospitality (860) and Pyramid Hotel Group (860) rank second in a tie.

For more information about the 2020 Third-Party Hotel Management Guest Satisfaction Benchmark, visit https://www.jdpower.com/business/travel-and-hospitality/third-party-hotel-management-guest-satisfaction-benchmark.

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

 

TV and Internet Providers Hold Strong with Performance and Reliability, JD Power Finds

2020-09-23

jillian.breska

During a time when working safer at home and television binge-watching has been at an all-time high, TV and internet providers see satisfaction improvements for performance and reliability, according to the JD Power 2020 U.S. Residential Television Service Provider Satisfaction Study^SM and JD Power 2020 U.S. Residential Internet Service Provider Satisfaction Study,^SM released today.

“With the country quarantining at home, internet and television services were under enormous pressure to continue performing reliably,” said Ian Greenblatt, managing director at JD Power. “True to form, providers did not succumb to the additional demand. Instead, they kept America connected: working, informed and entertained, thereby retaining their customers’ satisfaction.”

Study Rankings

Residential Internet Service Provider Satisfaction Study
Verizon ranks highest in the East region (769). AT&T/DIRECTV ranks highest in the North Central (742), South (769) and West (742) regions.

Residential Television Service Provider Satisfaction Study
AT&T/DIRECTV and DISH Network rank highest nationally in a tie with a score of 763. This is the third year in a row that DISH Network has ranked highest nationally. AT&T/DIRECTV ranks highest in the East (793). DISH Network ranks highest in the North Central (749) and South (781). Both AT&T/DIRECTV (752) and DISH Network (752) rank highest in a tie in the West region.

The 2020 U.S. wireline studies are based on responses from 26,554 customers in the Internet Service Provider Study and 20,675 customers in the Television Service Provider Study who evaluated their cable/satellite TV and high-speed internet service providers. The studies were fielded from October 2019 through July 2020.

For more information about the U.S. Residential Wireline studies, visit https://www.jdpower.com/business/resource/us-residential-television-customer-satisfaction-study.

JD 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, JD 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 JD Power to guide their customer-facing strategies.

JD 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 JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

 

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info