A good reputation in the insurance industry is invaluable.
Reputation permeates and influences all aspects of a company and a good reputation is a must for any insurance business that wants to survive and grow.
Respect of peers
Many organizations consider their good name or reputation to be their greatest asset. It's no surprise that the trust and confidence of peers, as well as the consumer, can have a direct and profound effect on an organization's bottom line.
To create its annual list of the World's Most Admired Companies, Fortune magazine asked 3,800 executives, directors and analysts to select the 10 companies they admired most across nearly 50 industries. A total of 680 companies in 28 countries were considered.
“Having the respect of your peers and your competitors is absolutely crucial in business and almost everywhere else,” said Fortune's Assistant Managing Editor Nicholas Varchaver in a video that accompanied the list. “Fortune's World's Most-Admired Company's List is a list that embodies precisely that idea.”
Which companies are the 10 most admired overall?
1. Apple
2. Amazon.com
3. Starbucks
4. Berkshire Hathaway
5. Disney
6. Alphabet (Google)
7. General Electric
8. Southwest Airlines
9. (Tie) Facebook / Microsoft
Most admired P&C companies
Fortune lists overall top rankings (or All-Stars), as well as rankings by industry. Here are the eight property and casualty insurance most admired companies (by industry ranking), including two top ranked All-Stars:
8. Allianz
Location: Munich, Germany
Overall score: 5.44
Related: How to establish your professional brand and make a lasting first impression
7. Liberty Mutual Insurance Group
Location: Boston, Massachusettes
Overall score: 5.56
Related: Customer loyalty begins with the insurance sales process
6. Travelers Cos.
Location: New York City
Overall score: 5.61
Related: 3 key strategies for growing your insurance agency
4. Nationwide (tie)
Location: Columbus, Ohio
Overall score: 5.74
Related: How to: Over-the-top customer service
4. Swiss Re (tie)
Location: Zurich, Switzerland
Overall score: 5.74
Related: 11 do's and don'ts on how to handle your insurance competition
3. State Farm Insurance
Location: Bloomington, Illinois
Overall score: 5.97
Related: Among cavemen and geckos: How to stand out in the crowded insurance marketplace
2. USAA (No. 25 overall)
Location: San Antonio, Texas
Overall score: 6.5
Related: 5 trust builders for smarter insurance claim settlements
1. Berkshire Hathaway (No. 4 overall)
Location: Omaha, Nebraska
Overall score 6.86
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
