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  • 2013 U.S. Financial Advisor Satisfaction Study

    Positive Brand Image Increases Financial Advisor Satisfaction

    2013-04-11

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    WESTLAKE VILLAGE, Calif.: 11 April 2013 — As investor confidence grows and perceptions of wealth management firms improves, so do advisor perceptions of their firm—particularly among independent advisors—according to the JD Power and Associates 2013 U.S. Financial Advisor Satisfaction StudySM released today.

    Key Findings

    • Satisfaction among independent advisors has improved by 29 points since 2010, compared with a 12-point increase among employee advisors during the past two study cycles.
    • Highly satisfied advisors want their firm or broker-dealer to focus on customers, not just profits.
    • More than one-third (36%) of employee advisors and 23 percent of independent advisors (31% combined) are indifferent toward their firm or broker-dealer, making them at risk for changing firms.

    The study measures satisfaction among both employee advisors (those who are employed by their investment services firm) and independent advisors (those who are affiliated with a broker-dealer but operate independently). The study examines nine key drivers of employee advisor satisfaction (in order of importance): firm performance; compensation; contact; people; job duties; work environment; products and offerings to clients; technology; and services and support offered to financial advisors.  

    The study also examines eight key drivers of independent advisor satisfaction (in order of importance): firm performance; people; contact; job duties; compensation; technology; products and offerings to clients; and services and support offered to financial advisors.

    While overall satisfaction among employee advisors is relatively unchanged in 2013, compared with 2012, it is up 12 points (on a 1,000-point scale) since 2010, while overall satisfaction among independent advisors increases 20 points from 2012 and 29 points since 2010.

    “Generally speaking, individuals are happier when they are successful, and a financial advisor’s success is heavily dependent on the relationships they are able to develop with their clients,” said Craig Martin, director of investment services at JD Power and Associates. “The brand image of the firm an advisor works for or is affiliated with may have a direct impact on their client relationships and, as a result, may strongly influence advisor satisfaction. Advisor satisfaction is based on more than just firm brand image, but when client relationships are potentially harmed, it raises questions about the risks and rewards of being affiliated with a firm.”

    The study finds that the majority of advisors fall into one of two categories: those who have high satisfaction and are “dedicated” to their investment services firm or broker-dealer; and those who are less satisfied and are  “indifferent,” or those who lack a strong attachment that might otherwise impact their decision to remain with or leave a firm. 

    Dedicated advisors say they either “definitely will” or “probably will” remain with their current firm in the next year because they believe the firm is a good place to work; has strong cultural values and beliefs; and is focused on the customer rather than on the bottom line. Indifferent advisors, as a group, are not as satisfied with their firm or broker-dealer, but remain there because they have a financial incentive to stay; don’t have a good reason to leave; or are under contract and can’t leave.

    The study finds that 45 percent of employee advisors and 44 percent of independent advisors are dedicated (45% combined), while 36 percent of employee advisors and 23 percent of independent advisors are indifferent (31% combined). 

    “With indifferent advisors, because there is no strong connection to their firm, they are likely to be more open to discussions and opportunities with another firm or broker-dealer if the right offer comes along,” said Martin.  “Additionally, when an advisor leaves, they usually take a large percentage of their clients with them. That means the firm or broker-dealer not only loses an advisor, but also customers, and one of their competitors gains both. Given this combined effect, there’s potentially a substantial positive economic impact on the firms or broker-dealers that are able reduce their number of indifferent employee advisors and improve advisor retention.”

    So how can firms improve advisor satisfaction and increase loyalty? Findings from the study show that it begins with a positive corporate culture—being honest and focusing on customers–and providing advisors with the tools and support they need to effectively service their clients. One of the key areas of advisor support is problem prevention and resolution.

    “The study finds that more than 40 percent of advisors experienced a problem, such as a computer issue or paperwork error, in the past 12 months,” said Martin. “Limiting the number of problems and ensuring effective problem resolution processes are in place are key components of advisor satisfaction.”

    Advisor Satisfaction Rankings

    Edward Jones ranks highest in overall satisfaction among employee advisor firms, with a score of 907, and performs particularly well in the work environment, job duties and firm performance factors. Raymond James & Associates, Inc., ranks second overall (891), and performs well in the compensation and firm performance factors.

    Commonwealth Financial Network ranks highest in overall satisfaction among independent advisor firms with an overall score of 945. The firm also earns high scores in the firm performance, people and job duties factors. Cambridge Investment Research, Inc., ranks second (895) and Raymond James Financial Services ranks third (879).

    The 2013 U.S. Financial Advisor Satisfaction Study is based on responses of more than 2,500 financial advisors. Survey sample and industry weighting was provided by Qualified Media and Investment News. The study was conducted between October 2012 and February 2013.

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.

    Media Relations Contacts:

    Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; (818) 598-1115; [email protected]
    John Tews; Troy, Mich.; (248) 680-6218; [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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  • 2013 Utility Website Evaluation Study

    Mobile Online Experiences at Utility Websites Failing to Meet Customers’ Expectations

    2013-04-10

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    WESTLAKE VILLAGE, Calif.: 10 April 2013 — An increasing number of customers are using their mobile device to access their utility’s website, which is a less satisfying experience than their experience on a desktop computer, according to the JD Power and Associates 2013 Utility Website Evaluation StudySM (UWES) released today.

    Key Findings

    • Overall customer satisfaction with the usefulness of utility websites is 416 (on a 500-point scale).
    • Two key tasks driving overall satisfaction with utility websites are the ability to review account information and make a payment.
    • Satisfaction with the desktop experience for electric-only utilities is 424, outperforming gas-only utilities at 410.

    The study finds that 26 percent of customers visit their utility’s website via their smartphone, compared with 16 percent in 2012. Customer satisfaction with their mobile website experience averages 403 (on a 500-point scale). In comparison, overall satisfaction among customers using a desktop computer to visit their utility’s site is 416.

    Satisfaction is highest for the most-often-used, high-volume functions, such as logging in, reviewing account information and making a payment. However, satisfaction is lower for more complicated functions, such as setting up an online account, researching energy-saving information, finding gas leak information and updating utility service.  

    “Many utility companies are using sites developed as long as a decade ago, and some do not have the budget to update or upgrade their sites,” said Andrew Heath, senior director at JD Power and Associates. “As a result, the sites haven’t evolved to keep up with customer expectations.”

    The study, now in its second year, examines the usability of utility websites by examining 12 tasks: set up an online account; account log in; view consumption history; review account information; make a payment; research energy saving information; update service; report outages; view outages; locate contact information; perform account and profile maintenance; and locate gas leak info. The study provides utility companies with an objective assessment of the usability of their website; establishes performance benchmarks; provides improvement recommendations; and identifies best practices across the industry. In addition, the study compares customer satisfaction with utility websites to satisfaction with websites in other industries, such as insurance and credit card.

    Heath notes that customers’ expectations for their utility’s website are based on their experiences on other sites. The two most important tasks driving overall satisfaction with utility websites are reviewing account information and making a payment. Although customer satisfaction with the ability to review account information is higher than it is with most of the other tasks, it still falls short when compared to the same task on a credit card company’s website1.  

    “If customers struggle to use the website, then they often go to other channels, such as calling the utility company’s call center, which is a much more costly transaction for the utility,” said Heath. “Investing in the website may save utility companies money, as well as increase overall customer satisfaction.”

    One critical time when customers may need to access their utility’s website from a mobile device is during a power outage. “If they can’t use their computer or their phones are out, customers may not have any other means to report an outage or get information regarding when power will be restored,” said Heath. “During a power outage, communication with customers is critical for immediate and long-term satisfaction with the utility company. Customers know this, and satisfaction with outage tasks is highest when customers use a mobile app to complete these tasks.” 

    Among the 75 utility companies included in the study, AEP, OG& E and Southern Company perform particularly well in overall customer satisfaction with utility websites when viewed from a desktop computer. DTE Energy, FirstEnergy and Public Service of New Hampshire perform well in overall satisfaction among customers who view the website from a mobile device. 

    The 2013 Utility Website Evaluation Study (UWES) is based on evaluations from more than 11,000 electric and/or gas residential customers, with 2,819 providing feedback about their online experience using a mobile device. The 75 largest U.S. electric and/or gas companies are included in the study, which was fielded in February and March 2013.

    1JD Power and Associates 2012 U.S. Credit Card Satisfaction Study.SM  

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.

    Media Relations Contacts:

    Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; (818) 598-1115; [email protected]
    John Tews; Troy, Mich.; (248) 680-6218; [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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  • 2013 U.S. Kitchen Cabinet Satisfaction Study

    Ordering and Delivery Are as Important as the Cabinets Themselves In Satisfying Customers

    2013-04-09

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    WESTLAKE VILLAGE, Calif.: 9 April 2013 — While the ordering and delivery process has consistently been a leading driver of customer satisfaction with the overall cabinet experience, operational performance has increased in importance in 2013 to become equally impactful in satisfying customers, according to the JD Power and Associates 2013 U.S. Kitchen Cabinet Satisfaction StudySM released today.
    The study, now in its sixth year, measures customer satisfaction with kitchen cabinets by measuring five factors: ordering and delivery (including ease of ordering, condition of products at delivery and timeliness of delivery); price; design features (such as the variety of cabinet colors/finishes and range of sizes and shapes available); operational performance (including smoothness of drawer slides and sturdiness of cabinet joinery); and warranty.

    Key Findings
    • On average, customers spend approximately $4,160 on their new kitchen cabinets (down by 4.8% from 2012).
    • More customers recognize their cabinets as being certified by a green accreditation program than in 2012 (16% vs. 6%, respectively).
    • Nearly two-thirds (63%) of customers indicate hiring a professional to install their cabinets, while 37 percent install their cabinets themselves.

     

    Operational performance has increased in importance by 5 percentage points from 2012, becoming equally important to satisfaction among cabinet customers as the ordering and delivery factor. 
    The study also finds that the manufacturer-distributor/retailer relationship is critical to providing an outstanding experience to cabinet purchasers.
    “Manufacturers must rely on distributors and contractors for the ordering and delivery process—and in many cases the installation process as well—but must provide the necessary level of support and training so that everyone involved is able to properly set customer expectations and deliver on them throughout the process,” said Christina Cooley, director of the home improvement practice at JD Power and Associates. 
    Thomasville ranks highest in overall customer satisfaction among cabinet brands for the first time in the study, with a score of 800 on a 1,000-point scale. Thomasville, which has the largest year-over-year improvement among the brands included in the study, performs particularly well in four of the five factors: design features; ordering and delivery; operational performance; and warranty. Following Thomasville in the rankings are KraftMaid (772) and IKEA and Merillat in a tie (761 each). 
    Overall customer satisfaction among all brands averages 756, unchanged from 2012.
    Cabinet customers in 2013 are less likely to commit to a specific brand for future purchases and recommendations than in 2012, with 17 percent of customers saying they “definitely will” repurchase their brand this year, compared with 27 percent in 2012.  In addition, 25 percent of customers in 2013 say they “definitely will” recommend their brand, compared with 34 percent in 2012.  The most influential sources used by customers while shopping for cabinets are the distributor’s in-store display (24%) and recommendations from professionals (16%).  
    For consumers who are shopping for kitchen cabinets, JD Power and Associates offers the following tips:
    • Given the sizeable investment, customers should ask the necessary questions to understand the entire process, from ordering to installation to the warranty repair process.
    • Look for a salesperson who will take the time to explain not only all the processes listed above, but also all the features and benefits of the cabinets so you truly recognize the value of the investment you are making.
    • Make sure the installer is qualified to work with your specific brand of cabinets, even if it means paying more money. Otherwise, you may ultimately be less satisfied and pay more in the long run if you cut corners during this step of the process.
    The 2013 U.S. Kitchen Cabinet Satisfaction Study is based on responses from more than 1,800 customers who purchased kitchen cabinets within the previous 12 months. The study was fielded in January and February 2013. 
     

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at 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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  • 2013 Specialty Coffee Retailer Satisfaction Report

    Friendly and Knowledgeable Staff Remains the Most Significant Driver of Satisfaction Among Specialty Coffee Retailer Customers

    2013-04-04

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    WESTLAKE VILLAGE, Calif.: 4 April 2013 — For a second consecutive year, friendly and knowledgeable staff continues to be the key driver to achieve higher satisfaction among customers of specialty coffee retailers, according to the JD Power and Associates 2013 Specialty Coffee Retailer Satisfaction ReportSM released today.

    Key Findings
    • The average checkout time at specialty coffee retailers is 6.3 minutes.
    • Customers spend an average of $7.31 per visit to a specialty coffee retailer.
    • Slightly more than half (52%) of customers say they “definitely will” recommend their specialty coffee retailer brand to family and friends.
    Now in its second year, the report measures overall customer satisfaction with specialty coffee retailers by examining five key factors (in order of importance): staff (34%), merchandise (23%), cost (18%), facility (14%) and sales/promotions (11%). Staff continues to be the most important factor in determining overall satisfaction.  
    In 2013, overall satisfaction with specialty coffee retailers averages 810 points (on a 1,000-point scale), an increase of four points from 806 in 2012.
    “Staff friendliness and positive interaction with the customer are keys to achieving high levels of satisfaction,” said Sally Lombardo, director of research operations at JD Power and Associates. “A specialty coffee retailer whose staff learns to master these skills may not only achieve high customer satisfaction, but also benefit from positive recommendations, customer loyalty and attachment to the brand.”
    The report finds that customers spend an average of $7.31 per visit to a specialty coffee retailer. The average amount of time customers spend in the checkout line is 6.3 minutes. 
    Specialty Coffee Retailer Customer Satisfaction
    Among the seven brands included in the report, Dutch Bros. Coffee ranks highest in overall satisfaction for a second year, with a score of 824. Dutch Bros. also performs particularly well in the staff, sales/promotions and cost factors.
    Following Dutch Bros. Coffee in the rankings are Seattle’s Best Coffee (812) and Starbucks Coffee (811), both outperforming the industry average (810).
    Customer Loyalty
    Customer satisfaction with specialty coffee retailers may equate to customer loyalty, as 52 percent of highly satisfied customers say they “definitely will” recommend and “definitely will” repurchase their brand. In addition, 34 percent of highly satisfied customers indicate they are “highly” committed to their specialty coffee retailer brand.
    Among Dutch Bros. Coffee customers, 56 percent say they “definitely will” repurchase and 58 percent “definitely will” recommend the brand to family and friends, both significantly higher than the industry averages (52%) and are the highest among brands ranked in the report.
     
    “Dutch Bros. Coffee is exceptional at creating an experience that resonates with their high-intensity customer base, which results in their very high loyalty and satisfaction ranking,” said Lombardo. “Being able to provide a hip, fun experience to customers with a local and unique feel helps Dutch Bros. Coffee continue to differentiate itself from its competitors year over year.”
    The 2013 Specialty Coffee Retailer Satisfaction Report is based on responses of more than 3,100 customers 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 2012 – January 2, 2013. Brands included in this report have revenue that exceeds $35 million and have at least 100 locations.

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at 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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  • Distinguished Hospital Program—The Valley Hospital

    The Valley Hospital Recognized for Providing an Outstanding Inpatient Experience for a 10th Consecutive Year

    2013-04-04

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    WESTLAKE VILLAGE, Calif.: 4 April 2013 — The Valley Hospital has once again been recognized for service excellence under the JD Power and Associates Distinguished Hospital Program.SM This distinction acknowledges a strong commitment by the hospital to provide “An Outstanding Inpatient Experience.” This is the 10th consecutive year the hospital has been recognized for its inpatient services.

     

    “In achieving certification of the inpatient unit for a 10th consecutive year, The Valley Hospital demonstrates its ability to provide consistent, outstanding service to its patients,” said John Clark, director of the healthcare practice at JD Power and Associates.

     

    The service excellence distinction is determined by surveying recently discharged patients regarding their perceptions of their hospital visit and comparing the results with the national benchmarks established in the annual JD Power and Associates National Hospital Service Performance Study.SM

     

    The telephone-based research conducted among The Valley Hospital patients focuses on the five key drivers of patient satisfaction with their overall experience. These drivers, which were identified in the national study, are speed and efficiency; dignity and respect; comfort; information and communication; and emotional support.

     

    The Valley Hospital exceeds the national benchmark study score for inpatient satisfaction and receives notably high ratings from inpatients for the care they received from their doctors and nurses during their stay. 
     

    More than three-fourths (77%) of inpatients indicate they feel loyal to the hospital, while 80 percent say they “definitely will” recommend The Valley Hospital to a friend, relative or colleague. 

     

    “We are committed to clinical quality and patient satisfaction,” said Audrey Meyers, president and chief executive officer of The Valley Hospital. “These outstanding recognitions are a demonstration of the priority Valley staff and physicians place on achieving the highest-quality clinical outcomes, while delivering the most compassionate care.”


    Nongovernmental, acute-care hospitals throughout the nation are eligible for the Distinguished Hospital recognition for inpatient, maternity, cardiovascular, emergency and outpatient services. Distinction is valid for one year, after which time the hospital may reapply for this recognition.

     

    About JD Power and Associates


    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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


    The McGraw-Hill Companies (NYSE: MHP), a financial intelligence and education company, signed an agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC in November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company’s leading brands will include: Standard & Poor’s, S&P Capital IQ, S&P Dow Jones Indices, Platts, Crisil, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries.  Additional information is available at www.mcgraw-hill.com.


    About The Valley Hospital


    The Valley Hospital, a 451-bed, acute care, not-for-profit hospital located in Ridgewood, NJ, is part of Valley Health System, which also includes Valley Home Care and Valley Medical Group. Valley is an affiliate of NewYork-Presbyterian Healthcare System and the recipient of numerous awards and recognitions. These include recognition for service excellence by JD Power and Associates for inpatient and emergency department care, and two major awards for patient safety and quality care from the Leapfrog Group, which ranked Valley among the top hospitals in the nation. Valley is ranked No. 1 in NJ by Healthgrades for overall cardiac services, cardiac surgery, and coronary interventional procedures. Valley has also been honored twice with “Magnet” designation–the nursing profession’s highest honor. Key services include cardiology, oncology, women’s and children’s services, emergency care, orthopedics and neurosciences. For more information, please visit www.valleyhealth.com. 


    Media Relations Contacts:


    Maureen Curran Kleinman; The Valley Hospital; (201) 291-6310; [email protected]
    John Tews; JD Power and Associates; Troy, Mich.; (248) 312 4119 [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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  • 2013 India Original Equipment Tire Customer Satisfaction Index (TCSI) Study

    Satisfaction with Original Equipment Tires Continues to Increase in India in 2013

    2013-04-04

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    SINGAPORE: 4 April 2013 — Satisfaction with original equipment tires—those selected by the automaker and sold with new vehicles—continues to increase in India year over year, according to the JD Power Asia Pacific 2013 India Original Equipment Tire Customer Satisfaction Index (TCSI) StudySM.

    The study, now in its 13th year, measures satisfaction among original equipment tire owners during the first 12 to 24 months of ownership across four factors (listed in order of importance): appearance, durability, traction/handling, and ride. In 2013, overall satisfaction with original tires averages 834 points (on a 1,000-point scale), an increase of 7 points from 2012. Among the four factors, satisfaction is highest for appearance of tires (836). Conversely, satisfaction with durability of original equipment tires is lowest (831).

    MRF ranks highest in overall customer satisfaction for a fourth consecutive year, with a score of 840 points. JK Tyres ranks second with 839 points, while Bridgestone, which improves the most among tire companies included in the study, ranks third with a score of 836, a 26-point increase year over year. 

    “Perception of high quality and reliability, aided by a positive reputation for brand image, continues to drive high customer satisfaction with MRF tires,” said Mohit Arora, executive director, JD Power Asia Pacific Singapore. 

    The percentage of customers reporting problems with their original equipment tires in 2013 remains consistent with the 2012 study at 12 percent. Again this year, customers experiencing a tire-related problem prefer to have their tires repaired at an authorized retail outlet. More than a one-half (52%) of customers experiencing any problem with their tires had them repaired at an authorized tire retail outlet, a 14 percent increase from 2012.

    “The propensity of customers to have their tires serviced at an authorized retail outlet is a trend that we note has increased during the past two years,” said Arora. “Authorized tire retail outlets continue to upgrade their services, in terms of processes, facilities, and type of services offered. As observed in other markets, this retail segment, if managed well, is likely to be one of the key drivers of a vibrant aftermarket in India.”

    The study also analyzes the consumer-reported share of business each tire manufacturer has with the automakers in India. The study finds that the top three ranked tire brands are also the ones which have a balanced portfolio of engagement with automotive makes. 

    “Both MRF and Bridgestone continues to draw consistent share of business from the automakers in India,” said Arora, “JK Tyres sees a positive trend through an increase in its share of business in 2012.”

    The study also finds that tire brands that achieve high levels of customer satisfaction benefit from higher levels of customer loyalty and advocacy. Among customers who are highly satisfied (901 points and higher), 76 percent say they “definitely would” recommend their tires to family and friends, while 70 percent say they “definitely would” repurchase the same brand. Conversely, among highly dissatisfied customers 31 percent say they would recommend and 27 percent say they would repurchase the same brand.

    The 2013 India Original Equipment Tire Customer Satisfaction Index Study is based on 4,568 responses from new vehicle owners who purchased their vehicle between May 2010 and August 2011. The study was fielded between May and August 2012.

    Special Video—Tire Tips for the Consumers
    Watch now to get advice and tips on:
    • How to optimize fuel economy from tire usage
    • The importance of tire rotation and the frequency required
    • How often should one check tire pressure
    • Run-flat tires – what are they and do you need them?

    About JD Power Asia Pacific

    JD Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide consulting services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan and Thailand. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at www.jdpower.com. Media e-mail contact: [email protected]

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.

    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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  • Call Center Certification Program—Aetna One®

    Aetna One Premier Health Concierge Call Centers Recognized for Providing an Outstanding Customer Service Experience for a Fourth Consecutive Year

    2013-04-03

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    WESTLAKE VILLAGE, Calif.: 3 April 2013 — Aetna’s Aetna One® Premier Health Concierge customer service model call center once again has been recognized for call center customer satisfaction excellence under the JD Power and Associates Call Center Certification Program.SM The Call Center Certification Program distinction acknowledges a strong commitment by Aetna’s concierge service call center operations to provide “An Outstanding Customer Service Experience.”


    To become certified, the call center operations successfully passed a detailed audit of more than 100 practices that encompass their recruiting, training, employee incentives, quality assurance capabilities and management roles and responsibilities. As part of its evaluation, JD Power and Associates conducted a random survey of Aetna customers who recently contacted its concierge call centers located in High Point, North Carolina, and New Albany, Ohio.


    “The confluence of health reform and rising member expectations for great customer service from their health plan make it imperative that health insurers raise the service bar—something Aetna achieves through its innovative Aetna One Premier Health Concierge program,” said John Clark, director of the healthcare practice at JD Power and Associates. “Certification is an outward, visible sign of Aetna’s commitment to drive a members-first experience.”


    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.

     

    “Aetna designed the Health Concierge model as a unique component of Aetna One Premier, which offers the most advanced integrated program experts in health, dental, disability, behavioral health, EAP, wellness counseling and disease management that collaborate to coordinate care and maximize health and productivity outcomes for Aetna members,” said Meg McCarthy, executive vice president of innovation, technology and service operations for Aetna. “Aetna aims to achieve the absolute highest standards of customer service for more than 1 million of our Aetna One Premier Health Concierge members, and takes pride in being recognized by the JD Power and Associates certification for the fourth consecutive year.”


    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 providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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


    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available atwww.mcgraw-hill.com.


    About Aetna


    Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 37.3 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services and health information technology services. Aetna customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.


    Media Relations Contacts:


    Tim Willeford; Aetna; (860) 273-3633;[email protected]
    John Tews; JD Power and Associates; Troy, Mich.; (248) 312 -4119; [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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  • 2013 Property Claims Satisfaction Study

    Overall Customer Satisfaction with Property Claims Experience Remains High, Despite A Second Consecutive Year of Historic Number of Settlements

    2013-04-01

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    WESTLAKE VILLAGE, Calif.: 1 April 2013 — Following two of the worst years of natural catastrophic event property claim settlements in  the history in the United States, overall customer satisfaction with the property claims experience remains high, according to the JD Power and Associates 2013 Property Claims Satisfaction StudySM released today.
    The study, now in its sixth year, measures satisfaction with the property claims experience among insurance customers who filed a claim for damages covered under their homeowners’ policy by examining five factors: settlement; first notice of loss; estimation process; service interaction; and repair process.
    Following 2011 and 2012, when insurance companies faced historic levels of catastrophic event claims settlements, customer satisfaction remains high and stable. Overall satisfaction in the 2013 study is 832 (on a 1,000-point scale), decreasing by one point year over year, but significantly increasing from 823 in 2011 and 818 in 2010. 
    Key Findings
    • Overall customer satisfaction with the insurance claims experience remains high and stable year over year
    • The percentage of customers filing through direct channels continues to increase
    • Satisfaction among claimants who file through an agent is 50 points higher than those who file a claim directly

    In the 2013 study, among the approximately 8 percent of homeowners in the United States who filed a property claim, the average settlement amount is $8,517, up from $7,937 in 2012. While the amount of the settlement to cover contents increases by nearly $250 year over year, the amount to cover the cost of repairs increases to $7,844 in 2013 from $7,151 in 2012. The average out-of-pocket expenses paid by homeowners nearly doubles to $3,888 in 2013 from $1,945 in 2012.

    “Despite increases in both the frequency and average severity of property damage in the U.S. during the past two years, the fact that customer satisfaction remains high is a testament to how diligently the personal insurance industry has responded to its customers,” said Jeremy Bowler, senior director of the insurance practice at JD Power and Associates.
    While overall satisfaction remains relatively stable year over year, satisfaction with the service interaction process declines by nine points in 2013, compared with 2012. Much of that drop in satisfaction likely is due to the continuing trend of homeowners filing their claim via direct channels—typically online or by calling a call center—rather than through an agent. 
    The study finds that 68 percent of customers file their recent homeowners claim through direct channels, a significant increase from 57 percent in 2012. Satisfaction is 50 points higher among customers who file a claim through their agent, than among those who file a claim through direct channels.
    “For the industry average, the call center experience fails to deliver the same level of service as an agent,” said Bowler. “Especially during times of hardship when someone’s house has been destroyed or their valuable possessions have been lost, it’s difficult for a call center representative to replicate the personal relationship customers get with an agent. However, a select few direct insurance companies buck this trend, achieving call center service scores that compete favorably with the best agency writers.”
    Among customers surveyed for the 2013 study, 72 percent who filed with an agent say their agent helped put them at ease, while just 56 percent who filed direct say their call center representative did the same.
    “The industry is definitely shifting toward direct channels,” said Bowler. “As that shift continues, the key for insurance companies is to ensure their call center representatives are fully trained to provide the claims experience their customers have come to expect. High customer satisfaction can be achieved through call centers, because some of the insurance companies that have the highest overall satisfaction in the study are direct providers, including Amica Mutual, this year’s highest-ranked insurer.” 
    Highest-Ranked Insurance Companies
    Amica Mutual ranks highest in overall satisfaction with the homeowners insurance claims experience for the second consecutive year, achieving a score of 907. Amica Mutual also performs particularly well in all five factors. CHUBB follows in the rankings with a score of 902, also performing particularly well across all five factors, while Encompass ranks third with a score of 867. USAA also achieves high levels of customer satisfaction, although it is not included in the rankings due to the closed nature of its membership. 
    JD Power and Associates offers the following tips for homeowners insurance customers: 
    • Be sure your homeowners policy provides sufficient coverage for your property. Consider not just the replacement value of your home, but of its contents, including jewelry, art, collectibles, electronics and other expensive items. 
    • Have your valuables appraised, photographed and declared on your policy. Keep a record of what you have done to protect them from theft or damage. This could include a home security system, storage in a safe, or secure storage off-premises.
    • Keep an inventory of your personal property, include model and serial numbers, at least of your most expensive items. Keep a copy of this document in a safety deposit box at your bank, and give a copy to your insurer. If you’ve suffered property damage, photograph the situation as soon as possible, before cleanup or restoration has begun. Be at home when the adjuster arrives, so that you can provide explanations of the value of the lost/damaged property. 
    The 2013 Property Claims Satisfaction Study is based on more than 5,500 responses from homeowners insurance customers who filed a property claim between May 2011 and January 2013.

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.

    Media Relations Contacts:

    Jeff Perlman; Brandware Public Relations; Woodland Hills, Calif.; (818) 598-1115; [email protected]
    John Tews; JD Power and Associates; Troy, Mich.; (248) 680-6218; [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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  • 2013 U.S. Original Equipment Tire Customer Satisfaction Study

    Automakers Turn to Tires to Help Reach CAFE Standards for Fuel Efficiency, Despite Customer Concerns with Run-Flat and Low-Rolling-Resistance Tires

    2013-03-28

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    WESTLAKE VILLAGE, Calif.: 28 March 2013 — Satisfaction is declining among customers whose vehicles are equipped with run-flat or low-rolling resistance tires as part of automakers’ efforts to improve fuel efficiency, according to the JD Power and Associates 2013 U.S. Original Equipment Tire Customer Satisfaction Study,SM released today.
    As automakers explore all options to meet the Corporate Average Fuel Economy (CAFE) standards, they are increasingly looking at the effect of tires on fuel consumption. Two key tire-related actions automakers are taking to improve fuel efficiency are equipping vehicles with run-flat tires in lieu of a spare tire and using low-rolling resistance tires. While potentially improving fuel efficiency, both products are falling short of customer expectations in terms of satisfaction with their tires.
    Run-flat tires are primarily being used on luxury and performance sports vehicles. In both instances, overall satisfaction with tires is lower when vehicles are equipped with run-flat tires, compared with when they are equipped with standard tires.  

    Key Findings

    • In 2013, customers report fewer problems with their original equipment tires for the fourth consecutive year.
    • Customers with run-flat tires are twice as likely to have to replace their tires as are those with standard tires.
    • Customer satisfaction with their original equipment tires averages 686, unchanged from the 2012 study. Satisfaction is highest (738) in the luxury vehicle segment.
     
    Overall satisfaction among owners of luxury vehicles with run-flat tires is 728 (on a 1,000-point scale), compared with 739 among those who own luxury vehicles with standard tires. The gap is even more pronounced among owners of performance sports vehicles, among whom overall satisfaction is 665 with run-flat tires vs. 732 with standard tires. 
    Part of the gap in satisfaction is due to the necessity of having to replace run-flat tires more frequently, compared with standard tires. Nearly one-third (31%) of customers whose vehicle is equipped with run-flat tires have had to replace at least one tire, compared with just 19 percent of those whose vehicle is equipped with standard tires. In addition, customers with vehicles equipped with standard tires replace their tires after an average of 22,559 miles, more than 6,000 miles beyond the average life of run-flat tires.
    “Automakers are trying to reach the next level of fuel economy, and are looking to their suppliers—in this case, tire manufacturers—to help them get there,” said Brent Gruber, director, global automotive division at JD Power and Associates. “The challenge is doing this while finding tires that meet customers’ expectations. Run-flat tires are not currently meeting those expectations.”
    Customers with vehicles equipped with run-flat tires are nearly twice as likely as those with vehicles equipped with standard tires to have to replace a tire due to a flat or blowout. Run-flat tires cannot be repaired and often need to be replaced in pairs rather than as a single tire.
    “Owners of performance sports cars with run-flat tires say they ‘definitely will’ recommend their tire brand to friends and family only half as often as those whose car is equipped with standard tires (14% vs. 28%, respectively),” said Gruber. “That has a potentially tremendous financial impact on tire manufacturers.”
    Consumer Insights and Social Media Research
    The study also finds that customers often express apprehension regarding low-rolling resistance tires. Research conducted by JD Power’s Consumer Insights and Strategy Group to track social media activity surrounding these tires finds that many consumers are concerned that equipping low-rolling resistance tires on their vehicle means compromising traction and durability in exchange for better gas mileage. Additionally, these consumers perceive that automakers select the best type of tires for their vehicle and, thus, they are apprehensive about straying too far from the original selection. While consumers ultimately conclude that low-rolling resistance tires may improve fuel efficiency, they are confused and concerned regarding the associated sacrifices.
    “While the marketing of low-rolling resistance tires has primarily focused on fuel efficiency, tire manufacturers may also benefit from advertisements that help educate consumers about the traction and dependability of the tires,” said Gruber. “Consumers don’t fully understand the benefit of low-rolling resistant tires. They believe they are forfeiting important aspects of tire performance by opting for low-rolling resistant tires, yet don’t know how much improvement in fuel efficiency they should expect in return.”
    Overall Satisfaction and Quality
    The study measures tire owner satisfaction in four vehicle segments: luxury, passenger car, performance sport and truck/utility. Satisfaction is examined in four factors: tire wearability; tire appearance; tire traction/handling; and tire ride. Rankings are based on owner experiences with their tires after 2 years of vehicle ownership.
    Overall satisfaction with original equipment tires is 686, unchanged from 2012. Satisfaction increases in three of the factors, while tire ride satisfaction decreases by six index points year over year. Overall satisfaction is highest in the luxury segment, with an average score of 738, followed by the performance sports segment at 728 and the passenger car and truck/utility segments tied at 676. 
    For a fourth consecutive year, customers are experiencing fewer problems with their tires. On average, customers report 74 problems per 100 (PP100) vehicles, an improvement from 76 PP100 in 2012 and 84 PP100 in 2011. The most frequently reported problems are road hazard/punctures, slow leaks, excessive road noise and fast tread wear. Overall satisfaction is 135 points lower among customers who experience a specific tire problem than among those who do not experience any problems (748 vs. 613, respectively).  
    Highest-Ranked Tire Manufacturers
    Michelin ranks highest in three of the four segments: luxury (775); passenger car (729); and performance sport (751). Pirelli ranks highest in the truck/utility segment (737).
    The 2013 U.S. Original Equipment Tire Customer Satisfaction Study is based on responses from more than 30,835 new-vehicle owners who purchased a 2011 or 2012 model-year vehicle. The study was fielded between October and December 2012.
     

    About JD Power and Associates

    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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

    The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.

    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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  • 2013 Third-Party Automotive Website Evaluation Study

    Providing a More Satisfying Experience on Third-Party Automotive Websites Yields More Loyal Shoppers and Website Advocates

    2013-03-26

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    WESTLAKE VILLAGE, Calif.: 26 March 2013 — Third-party automotive websites have an opportunity to create loyal and outspoken advocates by providing a satisfying website experience, whether consumers are shopping for a new or used vehicle, according to the JD Power and Associates 2013 Third-Party Automotive Website Evaluation StudySM  released today.


    The inaugural study measures the usefulness of third-party automotive websites during the new- and used-vehicle shopping process by examining four key measures (in order of importance): information/content; navigation; appearance; and speed. Overall satisfaction with third-party automotive websites averages 725 (on a 1,000-point scale).


    The study finds a high correlation between overall satisfaction with a third-party automotive website and the likelihood to recommend and return to the site. 


    “The websites with the highest overall satisfaction also have the highest advocacy and loyalty rates in the study,” said Arianne Walker, senior director of media and marketing solutions at JD Power and Associates. “A more satisfying experience will keep shoppers coming back, positively impacting site analytics and increasing exposure to the revenue-generating advertising on the sites.”


    Providing a satisfying experience on third-party automotive websites comes with certain challenges that manufacturer sites do not have. For instance, third-party sites need to strike a balance between the content provided and the revenue-generating advertising content. In addition, shoppers expect third-party sites to have information and images on all makes and model years. 


    “The large amount of information required for third-party automotive sites to be useful presents a unique challenge, as the information must be organized in a user-friendly way, weighing heavily on strong navigation and good user experience principles,” said Walker.


    New- vs. Used-Vehicle Shoppers

    Additionally, the study finds that satisfaction is higher among new-vehicle shoppers than among used-vehicle shoppers (735 vs. 715, respectively). One of the contributing factors to this difference in satisfaction is the disparate experiences shoppers often have when trying to locate vehicle information for new vs. used vehicles. 


     A key contributing factor to a less satisfying experience when shopping for used vehicles, compared with new vehicles on a third-party site, is that shoppers have to make very specific decisions regarding a vehicle model—such as model year or trim level—in order to explore available content. In contrast, when shopping for new vehicles, shoppers are able to obtain vehicle content more quickly and without requiring decisions regarding vehicle details before exploring the model, creating a more seamless experience as they view multiple vehicles.


    “With most third-party automotive sites, the shopping experience is different among new- and used-vehicle shoppers,” said Walker. “Websites that perform particularly well in the study provide a consistent shopping experience, including much of the same content, for both groups of shoppers.”


    Study Rankings

    Cars.com ranks highest in the inaugural study with a score of 782. Following Cars.com in the rankings is Kelley Blue Book (777) and AOL Autos (753).


    The 2013 Third-Party Automotive Website Evaluation Study is based on evaluations from more than 4,200 new and used-vehicle shoppers who indicate they will be in the market for a new vehicle within the next 24 months. The study was fielded in January and February 2013.

     

    About JD Power and Associates


    Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. 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


    The McGraw-Hill Companies (NYSE: MHP), a financial intelligence and education company, signed an agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC in November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company’s leading brands will include: Standard & Poor’s, S&P Capital IQ, S&P Dow Jones Indices, Platts, Crisil, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries.  Additional information is available at 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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