We just released the third annual Temkin Trust Ratings of 246 companies across 19 industries (see full list).
Download entire dataset for $295
Company Results
For the third straight year, USAA‘s insurance business earned the top ranking in the Temkin Trust Ratings. Here are additional highlights:
- Two of USAA’s business areas —insurance and banking—topped the list of companies. USAA’s credit card business also ranked sixth.
- The other companies in the top 10 of the ratings are credit unions, Publix, H.E.B., Amazon.com, Trader Joe’s, Charles Schwab, and Sam’s Club.
- HSBC earned two of the bottom three spots for its credit card and banking businesses.
- TV service providers and Internet service providers dominate the bottom of the ratings, collectively taking 10 of the bottom 15 spots. The other companies in the bottom 15 are US Airways, CareFirst, and T-Mobile.
We also examined year-over-year results for 204 companies that were also in the 2012 Temkin Trust Ratings. Here are some highlights of that analysis:
- Citigroup in credit cards and Hyundai earned the largest jump (21 points) over their 2012 Temkin Trust Ratings. The other largest gainers are Alaska Airlines, Bank of America in credit cards and banking, Continental Airlines, Avis, and EarthLink.
- Cox Communications in TV service and Fifth Third in banking lost the most ground (17 points) since last year. The other largest decliners are HSBC in banking, PNC in banking, JCPenney, Bright House Networks, and eMachines in computers.
Industry Results
Here are the highlights of the 19 industries in the 2013 Temkin Trust Ratings:
- Grocery chains earn the most trust while TV service providers earn the least trust from their customers.
- Six companies earned Temkin Trust Ratings that are 20 percentage points or more above their industry average: USAA (banking, credit cards, insurance carriers), credit unions (banking), TriCare (health plans), and Kaiser Permanente (health plans).
- Four companies earned Temkin Trust Ratings that are 20 percentage points or more below their industry average: HSBC (banking and credit cards), US Airways (airlines), 21st Century (insurance carriers).
- Led by credit card issuers and rental car agencies, 14 of the 18 industries in the 2012 and 2013 Temkin Trust Ratings improved over last year’s scores. The only four industries with declining ratings are TV service providers, retailers, appliance makers, and insurance carriers.
Calculating the Temkin Trust Ratings
During January 2013, Temkin Group asked consumers to identify companies that they have interacted with during the previous 60 days. For a random subset of those companies, consumers are asked to rate companies as follows:
To what degree do you TRUST that these companies will take care of your needs?
Responses from 1= “do not trust at all” to 7= “completely trust”
For all companies with 100 or more consumer responses, we calculated the “net trust” score. The Temkin Trust Ratings are calculated by taking the percentage of consumers that selected either “6” or “7” and subtracting the percentage of consumers that selected either “1,” “2,” or “3.”
Download entire dataset for $295
To see all of the companies in the Temkin Trust Ratings as ell as all of our other Temkin Ratings and sort through the results, visit the Temkin Ratings website
The bottom line: Without a customer’s trust, it’s hard to expect her loyalty.
