Survey Finds Membership Value Growing Despite “New Normal”

The CPCU Society first conducted research into member satisfaction with Society benefits and services in 2003. Since then, how has members’ assessment of the Society changed? In 2010, the answer is significant, across-the-board improvements in the value and importance members place on Society benefits and services, and their satisfaction with those benefits.

2010 Member Satisfaction Survey Tracks Member Attitudes
During January and February 2010, more than 2,000 CPCU Society members were randomly selected to participate in this web-based survey update. These members graciously contributed their time to answer the research questions, and their input will be invaluable in developing future Society benefits and services that continue “Insuring Your Success.”

The research, conducted by reed|group, a market research firm, asked about:

• Members’ awareness and usage of CPCU Society benefits and services

• The importance and value members place on these benefits and services

• CPCUs’ overall satisfaction with their CPCU Society membership

The 2010 survey was designed to mirror the questions asked of members in 2003, 2006, and 2008, so changes in member awareness, usage and satisfaction could be accurately tracked.

What Did the Survey Find?
How well does the array of benefits and services offered by the CPCU Society meet the professional development needs of its members? The following key findings from this year’s survey provide insights, and will help guide the CPCU Society’s strategic decisions about future member benefits and services:

• The CPCU Society’s effort to measure and respond to member needs continues to receive strong endorsement in 2010. Member’s overall satisfaction with, and the value they place on membership both held at the lofty levels measured in 2006 and 2008.

• The value and importance of, and members’ satisfaction with individual Society benefits increased significantly in 2010 over prior years’ results. This is despite being in a challenging, “new normal” environment, with much greater scrutiny of all expense items by employers and members.

• The ranking of individual benefits in terms of member awareness has held generally constant over the past seven years since this survey was first conducted. In 2010, the top five benefits of which members are aware include the Annual Meeting, the Society website, chapter activities, CPCU News, and continuing education (CE) credits.

• Frequently, surveys find that satisfaction ratings will dip with greater usage. This was not the case for the CPCU Society in 2010, which saw significant increases in both member usage and satisfaction ratings for individual benefits.

• Members’ reasons for joining and maintaining their CPCU Society membership are largely unchanged from prior surveys all the way back to 2003. Keeping up to date with the industry, employer support, access to networking opportunities, and the credibility or prestige of membership top the list again in 2010.

• Employers continue to be the primary source of funds for annual membership dues, paying for 86 percent of CPCUs in the Society. In addition, company support for CPCU Society activities, in terms of covering both the cost of the activities and providing paid time off, increased over prior year’s findings.

Insure Your Success with the CPCU Society’s Member Benefits and Services!
Are you making the most of your Society membership by taking advantage of all your member benefits and services? Check out the latest CPCU Society Member Benefits and start putting them to work for you today! To learn more, e-mail the Member Resource Center – one of the Society’s most important services – or call (800) 932-CPCU, option 4.