Category: United States

Satisfaction with Bank Facilities and Routine Interactions Offset Decreasing Satisfaction with Fees

1970-01-01

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WESTLAKE VILLAGE, Calif.: 19 April 2012 — While consumers are growing increasingly dissatisfied with fees, banks are able to offset it with higher satisfaction in other areas, such as banking facilities, account activities, and problem resolution, according to the JD Power and Associates 2012 U.S. Retail Banking Satisfaction Study^SM released today.  

The study, now in its seventh year, finds that overall retail banking customer satisfaction has improved by one index point in 2012 to an average of 753 (on a 1,000-point scale) from 2011. Customer satisfaction with the retail banking experience is measured in six factors: account activities; account information; facility; fees; problem resolution; and product offerings.  

Satisfaction with fees has declined to 609, down significantly from 625 in 2011 and from 656 in 2010. Monthly maintenance fees have the most significant negative impact on fees satisfaction this year–more so than in the 2011 and 2010 studies–while fees assessed for ATMs and debit cards have less negative impacts on fees satisfaction.

“The negative reaction to fees reflects customers’ irritation about paying for something they didn’t have to pay for in the past,” said Michael Beird, director of banking services at JD Power and Associates. “It also reflects a lack of their complete understanding about what they’re getting for those fees. Customers understand why they’re being charged for ATM and debit card use, but are not clear on what they’re getting for monthly maintenance fees, which drives the bigger drop in satisfaction with those fees.”

The study finds that despite the decline in fee satisfaction, banks, on average, are able to offset that negative impact on customer satisfaction in other areas, such as facilities and routine transactions.  Customer satisfaction with bank facilities–branch and ATM locations, appearance and hours of operation–has improved this year to 779, compared with 771 in 2011 and 765 in 2010.

One behavior helping increase satisfaction with the branch is that 76 percent of customers say they are greeted by a bank employee when they enter the bank, an increase from 68 percent in the 2010 study. In addition, customer satisfaction with the reliability and ease of using ATM machines has increased to 815 from 795 in 2011.

“Satisfaction with ATMs is driven by the increased reliability, user friendliness and functionality found in the newer generation of ATMs in which many banks have invested the past few years,” said Beird. “One of the most pertinent metrics is the percentage of customers who use ATMs to make deposits has more than doubled over the past four years, from 19 percent in 2008 to 40 percent in 2012.”

When looking at banks in aggregate by relative size, satisfaction with big banks  is 743, a two-point increase from 2011, while satisfaction with midsize banks is up four points to 781. Regional banks experience a slight dip in overall satisfaction, to 759 from 760 in 2011.

“Big banks continue to lag the other banks in overall satisfaction, but they have made significant improvements in reducing the number of problems customers experience and in problem resolution, specifically resolving problems on first contact,” said Beird.

The study also finds mobile banking, while still used by a relatively small proportion of customers, is increasing. Nearly one-fourth (16%) of customers cite using some mobile banking, compared with 10 percent in 2011. Among these customers, 11 percent use smartphone apps; five percent use texting for mobile interactions; and six percent use a mobile browser to access their bank. Smartphone apps are used most frequently to check account balances (74%) and transfer funds (47%). In addition, 18 percent of mobile banking customers use a smartphone to make deposits.

“Despite the progression in mobile banking, it still represents a small proportion of customers who regularly rely on the technology,” Beird said.  “What is interesting is that only one-half of customers using mobile banking report that they fully understand the capability of the technology. This represents an opportunity for banks to educate their customers, increase usage and potentially deepen customer share of wallet.”
According to Beird, customers who want to get the most out of the fees they pay their bank should consider a few simple steps:

• Ask questions at either the branch or over the phone to ensure you fully understand any fees or service charges that appear on statements. The bank should be prepared to offer a complete and satisfactory explanation.
• Examine how you bank to see if you can reduce or eliminate fees. For example, withdrawing money from other banks’ ATMs usually incurs fees from both banks.
• Talk to the bank representative to see if your current accounts offer the best features and services for how you do banking. You may be missing out on features or services available in new products.
• If you use mobile and online technology, learn all you can about those offerings, any costs associated with using those services, and whether the features meet your ongoing needs.

The study measures satisfaction among banks in 11 regions. Study results by region are:

California: Rabobank ranks highest in California with a score of 803, and performs particularly well in the fees and account activities factors. California Bank & Trust (783) and U.S. Bank (774) follow in the rankings.

Florida: PNC Bank ranks highest in Florida with a score of 794 and performs well in the in-person and online account activities factors. Chase (785) and Citibank (783) follow in the rankings.

Mid-Atlantic Region: With a score of 823, Northwest Savings Bank ranks highest in the region and performs well in fees and account activities. Huntington National Bank follows with a score of 801, and S&T Bank ranks third with 799.

Midwest Region: Commerce Bank ranks highest in the region with a score of 801, and performs particularly well in the fees and facilities factors. UMB Bank follows with a score of 794, and AnchorBank ranks third with 783.

New England Region: Rockland Trust Co. ranks highest in the region with a score of 811 and performs well in the product offerings and fees factors. Eastern Bank follows with a score of 791, and TD Bank ranks third with 770.

North Central Region: Independent Bank ranks highest in the region with a score of 802. Community Trust Bank and Chemical Bank follow in the rankings with scores of 794 and 793, respectively.

Northwest Region: With a score of 821, Banner Bank ranks highest in the region and performs well in facilities and account activities. Umpqua Bank (807) ranks second, followed by Columbia State Bank and Sterling Savings Bank in a tie, each with 800.

South Central Region: Arvest Bank ranks highest in the region with a score of 826 and performs particularly well in the facilities and fees factors. Hancock Bank (802) and Whitney National Bank (795) follow in the rankings.

Southeast Region: First Federal ranks highest with a score of 830, performing particularly well in the facilities and product offerings factors. First Citizens Bancshares follows in the rankings with 817, and First Citizens Bancorp ranks third with 816.

Southwest Region: Arvest Bank ranks highest in the region with 827 and performs particularly well in facilities and product offerings. MidFirst Bank (813) and FirstBank (CO) (801) follow in the rankings.

Texas: With a score of 859, Frost National Bank ranks highest in Texas and performs well across all six factors, particularly in account activities and fees. Woodforest National Bank (817) and Prosperity Bank (802) follow in the rankings.

The 2012 U.S. Retail Banking Satisfaction Study is based on responses from nearly 52,000 retail banking customers regarding their experiences with their retail bank. The study was fielded in January and February 2012.

For more information, view retail banking satisfaction ratings at JDPower.com

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

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Among Specialty Coffee Retailers, a Courteous and Knowledgeable Staff Drives Customer Satisfaction

1970-01-01

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WESTLAKE VILLAGE, Calif.: 19 April 2012 — Staff, more than price or merchandise offerings, is key to driving higher satisfaction among specialty coffee customers, according to the JD Power and Associates 2012 Specialty Coffee Retailer Satisfaction Report^SM released today.

The inaugural report finds that a specialty coffee retailer’s staff is more than twice as important to customers compared with the importance for the other factors that measure satisfaction. Customer service attributes such as courtesy, knowledge of merchandise, speed of checkout and availability contribute to the overall staff factor. Other factors contributing to overall satisfaction are merchandise, cost, sales/promotion and facility.

“With staff having such a high importance to customers, specialty coffee retailers have a tremendous opportunity to differentiate themselves from competitors by focusing on customer-centric approaches and enhancing their customer service training,” said Sara Wong Hilton, senior director, strategy and product management. “Customers may even overlook other shortcomings if the staff is friendly, knowledgeable and helpful.”

Specialty Coffee Retailer Satisfaction

Dutch Bros. Coffee ranks highest in overall satisfaction with a score of 823 (on a 1,000-point scale) and performs particularly well in the staff, sales/promotion and cost factors.

Tully’s Coffee ranks second in overall satisfaction with a score of 812, followed by Caribou Coffee at 809.

Customer Loyalty

High customer satisfaction with a brand leads to customer loyalty, as well as to a high number of customers who will recommend the brand to others.  Among Dutch Bros. Coffee customers, 56 percent say they “definitely will” repurchase and 63 percent say they “definitely will” recommend the brand to family and friends, significantly higher than all other brands included in this report.

“We see a direct correlation between customer satisfaction and commitment and loyalty to these coffee brands included in this report,” says Wong Hilton. “Committed and loyal customers are often more-profitable as they typically bring in other customers by recommending the brand.”
 
The report finds that customers spend an average of $13 per visit at a specialty coffee retailer.

The 2012 Specialty Coffee Retailer Satisfaction Report is based on responses of more than 1,300 participants who purchased any product or beverage at a brick-and-mortar specialty coffee retailer in the 30 days prior to being surveyed. The report was fielded in December 2011 and January 2012. Brands included in this report have revenue that exceeds $35 million, have at least 100 locations, and are located in more than five states.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

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The Hartford Recognized for Providing an Outstanding Customer Service Experience For a Seventh Consecutive Year

2012-04-19

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WESTLAKE VILLAGE, Calif.: 5 April 2012 — The Hartford Financial Services Group Inc. has been recognized for call center operation customer satisfaction excellence for a seventh consecutive year under the JD Power and Associates Call Center Certification Program.SM The Call Center Certification Program distinction acknowledges a strong commitment by The Hartford’s call center operations to provide “An Outstanding Customer Service Experience.”

To become certified, The Hartford’s call center operations successfully passed a detailed audit of more than 100 practices that encompass the call center’s customer satisfaction measurement and analysis strategies, recruiting, training, employee incentives, quality assurance capabilities, and management roles and responsibilities. As part of its evaluation, JD Power and Associates also conducted a random survey of The Hartford customers who recently contacted its call centers, located in Connecticut; Pennsylvania; Oklahoma; and California.

“For a seventh consecutive year, The Hartford has achieved call center certification, which demonstrates their consistent focus on their customers,” said Mark Miller, senior director of the global contact center practice at JD Power and Associates.  “Our research has shown that The Hartford’s customers value the courtesy and concern demonstrated by the representatives, which is particularly important in the industry in which they operate.”

For certification status, a call center must also perform within the top 20 percent of customer service scores, which are based on benchmarks established in JD Power and Associates’ cross-industry customer satisfaction research. The evaluation criteria include the customer service representative’s courtesy, knowledge and concern for the customer; promptness in speaking to a person; and timely resolution of the problem or request. Additionally, the experience with the automated phone system is evaluated based on the clarity of the information provided, the ease of navigating the phone menu prompts and the ease of understanding the phone menu instructions.

“We are honored to receive the JD Power Call Center Certification award for a seventh consecutive year,” said Greg Brown, senior vice president of enterprise operations at The Hartford. “It represents The Hartford’s commitment to consistently deliver the highest-quality service to our customers. Congratulations to our call centers for helping to make a difference on each call that comes into The Hartford–this award is a reflection of their continued passion and dedication to providing an outstanding customer experience each and every day.”

The Call Center Certification Program was launched by JD Power and Associates in 2004 to evaluate overall customer satisfaction with call centers and to help call centers in various industries increase their efficiency and effectiveness by establishing and continually updating leading practices for handling service calls.

For more information on the Call Center Certification Program, please visit JDPower.com.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Debora Raymond, The Hartford; (860) 843-1984; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

Auto Insurance Claims Satisfaction Declines Following Increases in Two Consecutive Quarters

1970-01-01

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WESTLAKE VILLAGE, Calif.: 18 April 2012 — Customer satisfaction with the auto claims experience declined for the first time in three calendar quarters, according to the JD Power and Associates 2012 U.S. Auto Claims Satisfaction Study^SM–Wave 2 released today.

Overall customer satisfaction has declined 13 points to 842, the lowest satisfaction level in the past three calendar quarters. The largest driver of lower satisfaction scores is a 19-point decline in first notice of loss–when the customer first notifies the insurance provider of damage to their vehicle. Other key factors with significant declines are service interaction (-16 points); appraisal (-16 points); and the repair process (-15 points).

“Forty-seven percent of claimants delayed dropping off their vehicle at the body shop to wait for a more convenient time, and 20 percent indicated waiting for weekends or holidays,” said Jeremy Bowler, senior director of the insurance practice at JD Power and Associates. “However, these customers tend to also have lower satisfaction as a result of having to wait an extra day and a half, on average, to get their vehicle to the shop compared to results from the prior quarter.  This suggests insurers need to do a better job of managing customer expectations for claims processing and vehicle repair times.”

Overall, the claims repair cycle time has increased nearly one full day to 15.8 days in the first quarter of 2012 from 15.0 days in the fourth quarter of 2011. Nearly one-half of the increase is attributed to customers waiting approximately one-half day longer to bring their vehicle to the body shop once the appraisal has been conducted.

“Repair times have also increased slightly from the last quarter,” said Bowler. “This, in addition to customers waiting longer for a more convenient time, or the weekend, to bring their vehicle to the repair shop, has contributed to the overall lower satisfaction scores.”

The study measures customer satisfaction with the claims experience for auto physical damage loss. Depending on the complexity of the claim, a claimant may experience some or all of the following, which are measured in the study: first notice of loss; service interaction; appraisal; repair process; rental experience; and settlement. Settlement is the most important factor in overall satisfaction among repair claimants as well as total loss claimants.

The 2012 U.S. Auto Claims Satisfaction Study–Wave 2 is based on responses from more than 3,700 auto insurance customers who filed a claim within the past 6 months. The study excludes claimants whose vehicle only incurred glass/windshield damage or was stolen, or who only filed roadside assistance claims. Data for Wave 2 of the study was fielded between January and February 2012.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

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Manufacturers and Retailers Are Making It Easier for Do-It-Yourself Painters to Succeed

1970-01-01

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WESTLAKE VILLAGE, Calif.: 18 April 2012 — Customer satisfaction with interior paint continues to increase as manufacturers and paint retailers focus on paint application, which is the most important aspect of the customer experience, according to the JD Power and Associates 2012 U.S. Interior Paint Satisfaction Study^SM released today.

The study, now in its sixth year, measures customer satisfaction among those who have purchased and applied interior paint during the past year and examines six key factors of the painting experience: application; product offerings; durability; price; design guides, and warranty/guarantee.

Overall satisfaction with interior paint brands in 2012 has increased to an average of 776 on a 1,000-point scale from 770 in 2011.  Satisfaction has also increased in four of the six factors included in the study.  The most notable improvements have occurred in the application, durability, and warranty factors.

Benjamin Moore ranks highest in customer satisfaction with interior paint for a second consecutive year with a score of 790 and performs particularly well in three of the six factors: application, offerings, and durability. Following Benjamin Moore in the rankings are Sherman-Williams (788), BEHR Paints (785), and Dunn-Edwards (782), each of which improved by at least 10 points during the past year.

The study finds that satisfaction with the paint application process continues to be important, as 82 percent of customers apply the paint themselves, rather than hiring someone to do it for them.  One contributor to the increase in overall satisfaction, and specifically to the application experience, is that more brands are offering paint that includes primer.  Slightly more than one-fifth (21%) of customers surveyed say they purchased an interior paint that included primer mixed in with the final color, an increase of 4 percentage points from 2011 and 9 percentage points from 2010.  Satisfaction is higher among customers who purchased and applied an interior paint that includes primer.  

The study also finds an additional contributor to increased satisfaction is customers’ experience with paint retailers.  More than one-half of customers who purchased paint received guidance on their painting project from the retailer and more than one-third received color selection advice.  Interestingly, satisfaction is higher among customers who purchased their paint directly from a manufacturer’s specialty store (e.g., Sherwin-Williams, Dunn-Edwards) than among those customers who purchased from a home improvement retailer.  

“Customers purchase, on average, four gallons of paint per project at about $30 per gallon.  The combination of a helpful and knowledgeable retailer and high-quality, easy-to-apply paint is essential to delighting customers,” said Christina Cooley, senior manager of the home improvement industries practice at JD Power and Associates.  “A positive experience will result in customers recommending and reusing the highest-performing brands for their next painting project.”

According to Cooley, customers beginning a painting project should consider the following when purchasing interior paint:

• Research high-performing paint brands beforehand and solicit recommendations from family and friends.
• Ask the retailer for advice regarding the type of paint you should purchase for your specific project, the tools you need, how to best apply the paint, and how much paint will be needed to complete the project.
• As you consider price, keep in mind that purchasing high-quality paint will likely reduce the number of coats needed and therefore require fewer gallons.  In addition, purchasing paint that already includes primer may also save time and money.  

The 2012 U.S. Interior Paint Satisfaction Study is based on responses from more than 8,000 customers who purchased and applied interior paint within the previous 12 months. The study was fielded in February 2012.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

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Utility Customers Most Satisfied with High-Volume Website Functions, but Other Online Tools Create Challenges

1970-01-01

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WESTLAKE VILLAGE, Calif.: 12 April 2012 — Utility websites do particularly well in providing their customers with a satisfying online experience for reviewing account information online and scheduling payments, but new or more complex functions, such as setting up an account or finding information on how to save energy, are among the most difficult for customers to understand, according to the JD Power and Associates 2012 Utility Website Evaluation Study^SM (UWES) released today.

The inaugural study examines the usefulness of utility websites by examining five key factors: appearance; clarity of information; navigation; range of services; and speed.  The study is designed to provide utility companies with an objective assessment of customers’ satisfaction with their website; establish performance benchmarks; provide improvement recommendations; and identify best practices across the industry.

Among the 48 utility companies included in the study, AEP, Alabama Power and PPL Electric Utilities perform particularly well in overall customer satisfaction with electric utility websites, providing customers with sufficient information to easily self-service their accounts.

Overall customer satisfaction with the usefulness of utility company websites is 828 on a 1,000-point scale.  Satisfaction is highest for the most often used, high-volume functions that are easiest to locate and use, such as logging in, reviewing accounts and making payments.  However, satisfaction is lower for more complicated functions, such as setting up an online account, researching energy-saving information and updating utility service.

Customers who experienced difficulty locating the area on the website for their recent energy usage indicate that links are not clear or require multiple clicks to other areas of the site. Additionally, many customers say they expected energy usage information to be more easily accessible on their utility’s website and they did not expect to have to access this information by opening a copy of their current bill.

“Customers’ expectations for locating information online may be set by their experiences with other sites such as for their bank, television or mobile phone company where they can review their historical information and likely have access to real-time data,” said Andrew Heath, senior director at JD Power and Associates.  “Illustrating online how much energy a customer uses and making it easy for them to access such information presents utilities with an opportunity to improve overall customer satisfaction.”

The study finds that a utility company’s ability to utilize its website to answer customers questions or efficiently manage their utility account increases the likelihood of customers returning to the website and recommending it to others.  Among highly satisfied customers, 73 percent say they “definitely will” return to the website for future account transactions and 57 percent say they “definitely will” recommend the site to friends and family.  Conversely, just 37 percent of dissatisfied customers say they “definitely will” return to the website and only 13 percent “definitely will” recommend it.

“Being unable to perform simple tasks on their utility’s website may be frustrating for many customers and discourage them from returning, so it is vital to create processes that are easy to understand and navigate,” said Heath.  “As satisfaction increases, the likelihood for customers to return to the website and to recommend it also increase, which may potentially reduce operational costs and reduce the amount of traffic to call centers when customers have questions.”

The 2012 Utility Website Evaluation Study also finds the following usage trends among utility companies and their customers:

• Just 9 percent of customers have accessed their utility’s website using a smartphone and 5 percent have done so using a tablet.
• Among smartphone users, 35 percent are interested in using their device to report power outages and 33 percent are interested in reviewing account information.
• Of the 48 utilities evaluated in the study, 85 percent include some form of social media, such as Facebook, Twitter, or YouTube, directly on the home page.
• More than 70 percent of utility companies currently use Facebook to post company updates and respond to customer comments, and more than 60 percent use YouTube to provide videos on a number of topics, such as safety and saving energy.

The 2012 Utility Website Evaluation Study (UWES) is based on evaluations from more than 5,000 electric utility residential customers.  Forty-eight electric utility companies with at least 500,000 residential customers were included in the study. The study was fielded in February 2012.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

Double-Digit Year-over-Year Growth in New-Vehicle Retail Sales Expected in June

1970-01-01

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WESTLAKE VILLAGE, Calif.: 21 June 2012 — June’s new-vehicle retail sales rate is approaching a
12 million-unit pace, the strongest level since February, according to a monthly sales forecast developed by JD Power and Associates’ Power Information Network(R) (PIN) and LMC Automotive.

Retail Light-Vehicle Sales

June new-vehicle retail sales are projected to come in at 994,800 units, which represent a seasonally adjusted annualized rate (SAAR) of 11.9 million units. Volume is expected to increase 15 percent, compared with June 2011, after adjusting for one additional selling day this month. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles.

“We’re seeing healthy retail sales growth as we head into the summer selling season and as automakers change over to the 2013 model-year vehicles,” said John Humphrey, senior vice president of global automotive operations at JD Power and Associates. “Many major manufacturers are posting year-over-year retail sales gains this month, while maintaining strong new-vehicle prices.  Average incentive levels, while up 9 percent versus a year ago, are down 5 percent from May. All indicators point toward an industry that continues to get healthy.”

U.S. Retail SAAR-June 2011 to June 2012
(in millions of units)

Total Light-Vehicle Sales

Total light-vehicle sales in June are expected to come in at 1,265,900 units, which is a 16 percent increase from June 2011. Fleet volume as a percentage of total light-vehicle volume is expected to reach 21 percent in June, after falling below 20 percent in May.

Gas prices in the United States have fallen steadily since April, which has changed demand for hybrid and electric vehicles. As gas prices increased from $3.33 per gallon in November 2011 to $3.84 per gallon in April 2012, the combined share of retail sales of hybrid and electric vehicle sales increased from 1.7 percent to 4.6 percent during the same period.  However, as gas prices have dropped since April, so has the market share for hybrid and electric vehicles, which has been trending downward during the past two months and is now at 3.4 percent.

 “The hybrid and electric vehicle market closely follows gas prices, which demonstrates that while there is consumer interest in hybrid and electric vehicles, demand is heavily influenced by the economic environment, rather than pure interest in the technology,” said Humphrey. “Until we see alternative powertrain growth without rising gas prices, we won’t see the market share growth that many automakers are hoping for.”

LMC Automotive expects hybrid and electric vehicle sales to account for 3.2 percent of total light-vehicle in 2012.

Sales Outlook

After two months of upward revisions to the 2012 forecast, LMC Automotive is maintaining its light-vehicle sales forecast for 2012. Total light-vehicle sales are forecasted at 14.5 million units with retail sales at 11.6 million units.

“Despite a rising level of uncertainty with the economic recovery, consumers remain resilient in their willingness to purchase new vehicles,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive. “Concerns regarding the macro-economic environment and another potential summer slowdown have increased, but we expect the sales pace to remain strong and stable throughout the second half of the year.”

North American Production

Throughout May 2012, North American light-vehicle production is well ahead of the increase in U.S. sales, with volume up nearly 23 percent, compared with the same period in 2011. More than 1.2 million additional vehicles have been built in the first five months of 2012, compared with the same period in 2011, as inventory rebuilding has driven the volume increase. U.S. manufacturing growth continues to lead the overall North America region with a 26 percent year-to-date increase. Production in Mexico is up 14 percent, and Canadian manufacturing is 19 percent higher.

Vehicle inventory at the beginning of June declined slightly to a 52-days supply (compared with a 55-days supply in May). Car inventory remains at a below-normal level, with a 43-days supply in early June, down from 45 days in early May, as demand for cars has increased due to lower fuel prices. Truck inventory levels are at normal levels with a 61-days supply, down from a 67-days supply in May.

LMC Automotive’s production forecast for North American in 2012 stands at 14.9 million units and represents a 14 percent increase from the 13.1 million units built in 2011. LMC Automotive expects 2013 North American production to exceed the 15 million-unit threshold, to 15.3 million units.

“Despite the significant increase in production levels this year, vehicle inventory has remained at a level that is below the typical 60- to 65-days supply,” said Schuster. “As we look to the future, volume remains robust, as increases in exports, as well as imported volume resourced to North America, drive higher levels of North American production.”

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

About LMC Automotive LMC Automotive, formerly JD Power Automotive Forecasting, is the premier supplier of automotive forecasts and intelligence to an extensive client base of automotive manufacturer, component supplier, logistics and distribution companies, as well as financial and government institutions around the world. LMC’s global forecasting services encompass automotive sales, production and powertrain expertise, as well as advisory capability. LMC Automotive has offices in the United States, the UK, Germany, China and Thailand and is part of the Oxford, UK-based LMC group, the global leader in economic and business consultancy for the agribusiness sector. For more information please visit www.lmc-auto.com

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Jeff Schuster; LMC Automotive; Troy, Mich.; (248) 817-2100; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates or LMC Automotive. www.jdpower.com/corporate and www.lmc-auto.com

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While Viewing of Paid Video via Tablets and Wireless Phones Increases, Viewing via Computers Declines

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WESTLAKE VILLAGE, Calif.: 21 June 2012 — As paid video content becomes more available via different distribution channels, tablet and wireless phone-viewing usage has increased, while PC/Mac-viewing usage has decreased from 2011, according to the JD Power and Associates 2012 U.S. Residential Pay-to-View Study^SM released today.

The study, now in its second year, provides unique insights concerning attitudes, viewing preferences, behavior patterns, awareness and experiences among pay-to-view customers of the major home television and video service providers in the United States.

The study finds that 18 percent of customers use tablets for viewing paid video content, making them the most-often-used handheld device, up from 11 percent in 2011. Usage by wireless phone customers increases to 16 percent, up from 14 percent in 2011. Overall, 29 percent of video service customers watch paid content on a handheld device. PC/Mac viewing of paid content has declined to 39 percent from 48 percent in 2011.
 
“Customers are becoming more comfortable viewing their paid content on a smaller screen, such as a tablet or mobile phone,” said Frank Perazzini, director of telecommunications at JD Power and Associates. “The convenience of the device, as well as the availability of the content, has made it much easier to experience video on a variety of devices. However, the desire to watch events and video content as it happens is still prevalent, as more than 50 percent of viewers watch live television programming.”

The study measures customer satisfaction with the pay-to-view service experience across seven factors: performance and reliability; variety of videos/programming provided; ease of use; cost of service; customer service; billing; and offerings and promotions. Overall satisfaction with pay-to-view video service providers averages 750 (on a 1,000-point scale), up from 743 in 2011.

Generation Gap

The study finds a stark difference in the usage and viewing practices of paid content by Gen Y and Baby Boomer¹ customers, yet finds a minor difference in their satisfaction levels. For instance, satisfaction with video service providers among Gen Y customers has declined to 752, down 18 points from 2011, while satisfaction among Baby Boomer customers is 748, an increase of 19 points from 2011. Among Gen Y customers, satisfaction has declined in part due to lower ratings for cost of service and customer service, while satisfaction among Baby Boomer customers has increased due to higher ratings for billing, ease of use and variety of videos/programming provided.

“Baby Boomers are more becoming more comfortable with paid video technology and, as a result, are becoming more satisfied with the services available,” said Perazzini. “Conversely, Gen Y customers are already familiar with the technology and not only demand a high level of service from video service providers, but also are quick to seek alternatives when they believe they could have a better experience elsewhere.”

The study also finds that when selecting a video service provider, 21 percent of Gen Y customers consider mobility a factor, compared with only 9 percent of Baby Boomer customers, further highlighting the different needs of these two generations.

Customers Spend More Time with Gaming Consoles

Nearly one-fourth (23%) of customers view paid content via gaming consoles, compared to those who view paid content via handheld devices (29%). However, customers who view content on a gaming console watch 6.3 hours per week, compared with 5.3 hours on a PC/Mac; 4.9 hours on a wireless phone; 4.5 hours on a music player; and 4.4 hours on a tablet.

“These findings illustrate that while customers appreciate the convenience and value that gaming consoles provide, the TV screen is still a preferred viewing media,” said Perazzini. “On the other hand, average viewing times for mobile devices and computers are likely impacted by battery life and screen .”

The 2012 U.S. Residential Pay-to-View Study is based on responses from 4,097 U.S. households that evaluated video service providers, including Amazon, Apple TV, Blockbuster/Blockbuster Express, Google TV, Hulu/Hulu Plus, Local Video Stores, Netflix and Redbox. The study was fielded in April 2012.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; (818) 598-1115; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

Despite Continuing Challenges with In-Vehicle Technology, Automakers Post a Strong Improvement in Initial Quality

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UPDATE:

View the results of the 2013 Initial Quality Study

WESTLAKE VILLAGE, Calif.: 20 June 2012 — As the U.S. automotive industry continues to recover, vehicle manufacturers post the strongest improvement in initial quality since 2009 and are producing higher-quality vehicles than ever before, according to the JD Power and Associates 2012 U.S. Initial Quality Study^SM (IQS) released today.

Overall initial quality for the industry improves by 5 problems per 100 vehicles (PP100) to average 102 PP100 in 2012–an improvement of 5 percent from 2011.  There are year-over-year gains in most areas of initial quality, with one notable exception–audio, entertainment, and navigation problems have increased by 8 percent from 2011. This continues a recent trend, as problems in this category have increased by 45 percent since 2006 while other categories have improved by 24 percent, on average.

As manufacturers introduce increasingly sophisticated multimedia systems designed to enhance the ownership experience, owners more frequently cite these systems as a source of quality problems. For the first time in the 26-year history of the study, owners report more problems related to audio, entertainment, and navigation systems than in any other vehicle area.  This is driven in part by a rapid increase in the fitment of new technology, such as voice recognition on mainstream models.

“Until recently, this type of sophisticated technology was found primarily on high-end models” said David Sargent, vice president of global automotive at JD Power and Associates. “However, over the past few years it has rapidly found its way into the automotive mainstream. For example, in 2012, more than 80 percent of owners indicate that their new vehicle has some form of hands-free technology.”

Specifically, the number of owner-reported problems with factory-installed hands-free communication devices has increased 137 percent during the past four years. In fact, hands-free devices not recognizing commands has become the most-often-reported problem in the industry.

“As smartphones become ubiquitous in the lives of consumers and are ever-more sophisticated, expectations about the complementary technologies being offered in new models will only get higher,” said Sargent. “Automakers and suppliers are working hard to meet those expectations with systems intended to make the driving experience safer, more convenient and more entertaining. However, the most innovative technology in the world will quickly create dissatisfaction if owners can’t get it to work.”

Other key findings from the study include:

• Of the 34 brands ranked in the 2012 IQS, 26 have improved from 2011, five have declined, one scores the same as in 2011 and two were not included in the 2011 study.
• Of the 185 models ranked in both the 2012 and 2011 IQS, 65 percent have improved.
• The average quality of all-new or redesigned models improves 12 percent compared with 2011, with eleven all-new or redesigned models performing better than their segment average.

The Initial Quality Study, now in its 26th year, serves as the industry benchmark for new-vehicle quality measured at 90 days of ownership. The study is used extensively by manufacturers worldwide to help them design and build better models and by consumers to help them in their vehicle purchase decisions. Initial quality has been shown throughout the years to be an excellent initial indicator of long-term durability, which directly impacts consumer purchase decisions. The study captures problems experienced by owners in two distinct categories: design-related problems and defects and malfunctions.

2012 IQS Ranking Highlights

Lexus is the highest-ranked nameplate in the industry for a second consecutive year, averaging 73 PP100. With 75 PP100 each, Jaguar and Porsche follow Lexus in a tie to rank second. Jaguar posts the largest improvement in the study–reducing problems by 39 PP100 and vaulting from the 20th rank position in 2011. Cadillac (80 PP100) and Honda (83 PP100) round out the top five rank positions.

Among the 21 model-level segment awards, Ford and Lexus receive three each. Ford earns awards for the Expedition, Mustang and Taurus, and Lexus garners awards for the ES 350, LS and RX. Receiving two segment awards each are Infiniti (EX-Series, M-Series); Nissan (Frontier, Quest); and Toyota (Corolla, Yaris). The Porsche 911 ranks highest in the premium sporty segment and achieves 44 PP100, the lowest PP100 score since the study was redesigned in 2006.

Also receiving segment awards are the Buick Enclave; Cadillac Escalade; Chevrolet Malibu; GMC Sierra LD; Honda CR-V; Kia Soul; Mazda MX-5 Miata; and Volvo C70.

“While in past years a handful of brands tended to collect numerous segment awards, 14 different brands receive segment awards in 2012–this is only the second time in the history of the study that so many different brands achieved award status,” said Sargent. “This is a positive indication of how widespread high quality is among automakers, with most brands producing a number of models with exceptional quality levels.”

Plant Assembly Line Quality Awards

Honda Motor Company’s Suzuka 3, Mie (Sss) plant in Japan, which produces the Honda CR-Z and Fit, receives the Platinum Plant Assembly Line Quality Award for producing models yielding the fewest defects or malfunctions. Plant awards are based solely on average levels of defects and malfunctions and exclude design-related problems.

Among plants in the North/South America region, the Toyota Motor Corporation Cambridge South, Ontario, plant, which produces the Lexus RX, receives a Gold Plant Assembly Line Quality Award.

In the Europe and Africa region, Volvo receives a Gold Plant Assembly Line Quality Award for the Uddevalla, Sweden, plant, which produces the Volvo C70 in a joint venture with Pininfarina.

The 2012 U.S. Initial Quality Study is based on responses from more than 74,000 purchasers and lessees of new 2012 model-year cars, trucks and multi-activity vehicles surveyed after 90 days of ownership. The study is based on a 228-question battery designed to provide manufacturers with information to facilitate identification of problems and drive product improvement. The study was fielded between February and May 2012.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate

Download PDF:
Press Release (U.S. Version)
Press Release (Japanese Version)
Press Release (German Version)

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Amid Uncertainty, a Large Proportion of Employers Prepare to Pursue Alternate Health Coverage Offerings for Their Employees

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NOTE: A previous version of this press release incorrectly stated the index scores for the health plans. An error in the index calculation was discovered that affected the “carrier representative” factor score for 1,102 of the more than 6,500 respondents in the study. After correcting the calculation, there were minor changes of between two and five index points in the overall index scores for each health plan included in the study. Those changes are reflected in the updated figures below. JD Power and Associates sincerely apologizes for any problems these changes may have caused.

WESTLAKE VILLAGE, Calif.: 18 June 2012 — Amid uncertainty surrounding the future of employer-sponsored coverage, employers are preparing to pursue alternate methods of offering healthcare options to their employees–such as defined contributions, vouchers, exchange purchasing–or cutting coverage altogether, according to the JD Power and Associates 2012 Employer Health Plan Study^SM released today.

The study, now in its third year, measures six key factors that affect employer satisfaction with health insurance carriers: employee plan service experience; account servicing; program offerings; benefit design; problem resolution; and cost. Health plans are ranked in two segments: fully insured plans (health plan assumes the risk of providing health coverage for insured events) and self-funded plans (employers bear the risk associated with offering health benefits).

The study finds that 47 percent of employers say they “definitely will” or “probably will” switch to a defined contribution model within a private exchange, allowing employees to select the coverage that best fits their needs, while also potentially saving the employer costs.  In the JD Power and Associates 2012 Member Health Plan Study,SM published earlier this year, 42 percent of respondents with employer-sponsored coverage expressed interest in the defined contribution model as well.

As other options become available, some employers may consider eliminating coverage altogether. Despite uncertainty regarding future costs and methods of covering healthcare, only 13 percent of fully insured employers and 14 percent of self-funded employers say  they “definitely will not” or “probably will not” continue to sponsor employee coverage at all.

“As the landscape of healthcare changes, employers face many choices in how to best serve their employees with competitive coverage at affordable costs,” said Rick Millard, senior director of the healthcare practice at JD Power and Associates. “While some reports have predicted that a large number of employers might stop offering coverage, study findings indicate that a large majority won’t walk away from offering coverage to their employees.”

Cost is still a primary concern for both employers and employees, and has a greater impact on choosing a health plan than on the actual service experience. The perceived reasons for high healthcare costs vary among employers and employees. Employers view fees charged by doctors and hospitals as the top reason for high healthcare costs, while employees most frequently view health insurance companies’ marketing or administrative costs as the primary reason for high costs.

Employer Health Plan Results

Among fully insured plans, Kaiser ranks highest in employer satisfaction with a score of 718 (on a 1,000-point scale). Kaiser performs particularly well in account servicing, problem resolution, program offerings, cost and employee plan service experience.   

Among self-funded plans, Aetna ranks highest in employer satisfaction, achieving a score of 682 and performs particularly well in account servicing.

The 2012 Employer Health Plan Study is based on responses from 6,579 employers, with quotas to assure an adequate distribution of small, medium and large companies. The study was fielded between April and May 2012.

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company’s quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

Media Relations Contacts:

Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; (818) 317-3070; [email protected]
Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; [email protected]

Follow us on Twitter: @JDPower

No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power and Associates. www.jdpower.com/corporate
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