The Standard Earns Numerous Honors from 2020 PLANSPONSOR Best in Class Provider Survey
April 20, 2021 by Standard Insurance Company
PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company, (The Standard) has been awarded multiple honors based on the results of the PLANSPONSOR 2020 Best in Class Provider Survey, an annual survey of approximately 3,000 DC, or defined contribution, plan sponsors across the country. The Standard received 48 Best in Class DC Provider awards and two top-five Net Promoter® Score placements in the Micro Market and $25 million to $50 million categories.
“The Standard is proud to receive such positive recognition from our clients and PLANSPONSOR. This would be an impressive accomplishment in any year, but achieving these results during a global pandemic truly showcases our strengths and reinforces our consistent, service-first culture,” says Maria Gonzalez, vice president of Retirement Plan Services at The Standard.
48 Best in Class Provider Awards in three market categories
PLANSPONSOR Best in Class Awards are based on client satisfaction within a given area of service. The three highest-scoring providers in each service category earned an annual Best in Class Award. The Standard received a total of 48 Best in Class awards in three market categories (under $5 million, between $5 million and $25 million and $25 million to $50 million) — a 55% increase in awards from 2019.
Top-five Net Promoter® Scores in two market categories
A provider’s NPS calculation is based on a single question that has become an industry standard in measuring and reporting client satisfaction and customer loyalty: “On a scale of 0 to 10, how likely are you to recommend the company to a friend or colleague?” Clients responding to the 2020 survey gave The Standard high marks, placing it in the top five NPS scores within two industry categories. In the Micro Market (under $5 million), The Standard received an NPS of 97%, taking second place. In the $25 million to $50 million category, The Standard scored 85%, landing in the top five.
For additional details and the full survey methodology, please visit PLANSPONSOR.
About The Standard
The Standard is a family of companies dedicated to helping customers achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management services, and retirement plans and annuities for employers and individuals. For more information about The Standard, visit standard.com or follow us on Facebook, Twitter or LinkedIn.
The Standard is the marketing name for StanCorp Financial Group, Inc., and its subsidiaries. StanCorp Equities, Inc., member FINRA, wholesales a group annuity contract issued by Standard Insurance Company and a mutual fund trust platform for retirement plans. Standard Retirement Services, Inc., provides financial recordkeeping and plan administrative services. Investment advisory services are provided by StanCorp Investment Advisers, Inc., a registered investment advisor. StanCorp Equities, Inc., Standard Insurance Company, Standard Retirement Services, Inc., and StanCorp Investment Advisers, Inc., are subsidiaries of StanCorp Financial Group, Inc., and all are Oregon corporations.