Erie Indemnity Company (NASDAQ:ERIE) Q4 2023 Earnings Call Transcript

These initial investments are adjacencies that have the potential to deliver value to Erie, our agents, and policyholders. In addition to capital, the startup companies also benefit from Erie’s industry expertise. We look forward to continuing to build our portfolio to support more visionary entrepreneurs and help bring innovative products and services to the market. As I mentioned earlier in the call, weather claims have been up and significantly over the prior year, which makes accolades like those we recently received from J.D. Power even more meaningful. In December, J.D. Power ranked Erie the best in home insurance customer satisfaction, coming in at number one for both homeowners and renters insurance. Erie’s score of 856 on J.D. Power’s 1,000-point scale was 37 points higher than the homeowners insurance segment average for 2023.

And both our ranking and score improved during a year when the study cited overall homeowner satisfaction is flat compared to the previous year. This recognition comes on the heels of two other first-place rankings from J.D. Power in 2023, one for property claims experience and another for independent agent satisfaction and personal lines. I would like to express my gratitude to our agents and frontline employees from claims, first notice of loss, and customer care operations for continuing to be above all in service, even in and especially in these demanding times. Thank you all for listening in today and for your continued interest in Erie.

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