NORWALK, Conn.--(BUSINESS WIRE)--HomeServe USA (HomeServe), a leading provider of home emergency repair solutions, today announced a record-breaking period of customer, partner and business growth in the 12 months ended March 31, 2017. As of March 31, 2017, HomeServe grew its customer base to 3 million households – a 28 percent increase from March 31, 2016, while the Company maintained a strong customer retention rate of 82 percent.
Over the past year, HomeServe established a record number of new partnerships, augmented by the acquisition of Utility Service Partners, Inc. (USP), and the consumer facing brands Service Line Warranties of America and Service Line Warranties of Canada, together leading the fastest period of growth in the Company’s history. USP is the program administrator of the National League of Cities (NLC) Service Line Warranty Program. HomeServe added a total of 98 new municipal and utility partners, growing its partnership base to over 450. The Company’s partner growth occurred through efforts tied to the NLC Service Line Warranty Program and via HomeServe’s organic expansion with electric, gas and water utilities around the U.S., adding 7.4 million new households that have access to the company’s service plans. Within this growth is the addition of nearly half a million households in Canada who now have access to HomeServe’s repair plans under Service Line Warranties of Canada. The rapid customer growth experienced by the Company has translated into over $300 million in repair savings for homeowners serviced over the last three years.
“Our continued momentum is reflective of the value our services are creating for municipal and utility partners and homeowners alike,” said Tom Rusin, CEO, HomeServe USA. “At a time when a significant number of Americans are living in homes built decades ago, our service plans are allowing homeowners to resolve problems such as water line breaks, sewer line blockages, HVAC system repairs, or repairs to electrical wiring. Simply put, we help homeowners avoid the costs and inconvenience of these kinds of repairs, while supporting the goal of maintaining and improving private infrastructure on a national level.”
Aiding Infrastructure Recovery & Delivering Cost-Savings to Homeowners
According to the U.S. Census Bureau, 30 percent of the homes in the U.S. were built over 50 years ago – meaning many service pipes connecting homes to city water or sewer systems are functioning on borrowed time. Furthermore, the Center for Neighborhood Technology (CNT) has found that nearly 6 billion gallons of water are lost per day in the U.S. as a result of leaks or breaks in old water pipes. With the increasing rate of pipe failure, proactive renewal of public water infrastructure combined with a program to support prompt reactive repair of private infrastructure is a prudent move, and in the best interests of both communities as well as homeowners.
Through HomeServe’s service plans, homeowners experiencing water and sewer/septic line issues for example can have these issues quickly addressed by a licensed contractor, who is ready and able to provide the necessary repairs or replacement. The need for such services continues to grow – from 2015 to 2016, the total number of water and sewer line repair jobs completed by HomeServe increased nearly 10 percent. The growth of HomeServe’s municipal and utility partner relationships and customer base is evidence as to how the issue of aging private water infrastructure is gaining awareness and understanding among local leaders and consumers alike.
Delivering Consistent, High Levels of Service Quality & Reliability
A strong dedication to customer service remains the strength behind HomeServe’s continuing success – both in its overall growth and customer retention, as well as its efforts to address broader infrastructure issues. The Company continues to maintain an A+ Better Business Bureau rating and receive recognition for its commitment to customer service. HomeServe won 17 awards at the 2017 Stevie Awards for Sales & Customer Service as well as recognition at industry events, including the CallMiner 2016 Listen Conference for demonstrating excellence in customer engagement efforts.
Recognizing that customer satisfaction is often the product of employee engagement, HomeServe consistently works towards creating a rewarding workplace environment for its team. In 2016, the Company was recognized for the third consecutive year as a Top Workplace in Connecticut by Hearst Media Services and was certified as a Fortune Magazine Great Place to Work.
Driving Industry Innovation & Thought Leadership
HomeServe is raising the bar in the service industry, leading the way in customer engagement to meet changing consumer expectations. In 2016, HomeServe introduced an online customer portal allowing customers to access their accounts, view their plans, update information, select communication preferences and go paperless, among other digital options.
Further demonstrating its commitment to evolve its customer engagement channels to meet customer’s needs, HomeServe launched a new mobile platform in 2016. Through this platform’s suite of mobile and web-based tools, HomeServe customers can easily track and manage their own service experience, from instant notifications of a technician’s estimated time of arrival, to communicating with the Company and providing ratings on their experience. The platform also enhances the technician experience, streamlining administrative tasks to allow the technician to focus on serving their customers.
HomeServe continues to lead the industry in the conversation about private infrastructure via thought leadership and educational efforts. For the third year, the Company led an informative session at the 2016 American Water Works Association’s (AWWA) Annual Conference & Exposition, exploring the issue and impact of non-revenue water (NRW) for utilities, municipalities and their customers. In January 2017, HomeServe released “What Lies Beneath the Surface,” a white paper bringing attention to the challenges created by NRW and providing solutions for utilities and municipalities to counteract the negative impact of NRW on water conservation and infrastructure. In February, USP as program administrator of the NLC Service Line Warranty Program presented “Getting the Lead Out,” an informative webinar discussing the issues cities are facing with lead lines in their residents homes. According to the Environmental Protection Agency, roughly 10 million American homes and buildings receive water from service lines that are at least partially lead. The NLC-hosted webinar discussed the breadth of this issue while presenting solutions that cities can use to combat it.
Additionally, the company is helping cultivate a strong next generation of technicians. During the last year, HomeServe launched a pilot program with Lincoln Technical Institute (Lincoln Tech) in Union, NJ to provide students with real-world on the job experience in the HVAC field, by providing them with the opportunity to work alongside HomeServe certified technicians in the metro New York area.
Giving Back to Communities
In line with its mission to serve as an advocate for homeowners, HomeServe has instilled a company culture that appreciates the importance of serving the communities where it operates through philanthropy. The Company has initiated several charitable initiatives, on behalf of employees, as an organization and for its partners around the country, supporting local and national charities that give back to the communities where its employees work and live. Among the Company’s efforts is an employee charity pitch program, modelled after a popular reality TV show, allowing employees to advocate for the charities they believe in, in an effort to win funds for the causes that matter to them most. This program serves as part of HomeServe’s People Promise, an internal mission to bring together both the company and its employees by creating a mutual commitment to support organizations important to them.
HomeServe has also maintained its HomeServe Cares program, designed to serve qualifying low-income homeowners that are in need of repair assistance. Like its core business, HomeServe Cares helps people in need, alleviating them from the inconvenience, worry and financial burden often associated with emergency home repairs. For its efforts, HomeServe was recognized by the Connecticut Better Business Bureau 2016 Marketplace Excellence Awards, as an Honorable Mention in the Community Care category.
“We are very pleased with what we’ve been able to accomplish over the past year, and recognize that with our growth also comes a responsibility to expand our efforts in support of the communities we serve. In line with our mission, we look forward to delivering peace of mind to homeowners who face home repair emergencies for years to come,” added Rusin.
About HomeServe
HomeServe USA Corp (HomeServe) is a leading provider of home repair solutions serving 3 million customers across the US and Canada under the HomeServe, Home Emergency Insurance Solutions, Service Line Warranties of America (SLWA) and Service Line Warranties of Canada (SLWC) names. Since 2003, HomeServe has been protecting homeowners against the expense and inconvenience of water, sewer, electrical, HVAC and other home repair emergencies by providing affordable repair coverage and quality local service. As an A+ rated Better Business Bureau Accredited Business, HomeServe is dedicated to being a customer-focused company supplying best-in-class repair plans and other services to consumers directly and through over 400 leading municipal, utility and association partners. For more information about HomeServe, a 2016 Connecticut Top Workplace winner and recipient of seventeen 2017 Stevie Awards for Sales & Customer Service, please go to www.homeserveusa.com. For information on SLWA visit www.slwofa.com and for SLWC visit www.slwofc.ca. To connect with HomeServe on Twitter and Facebook, please visit www.twitter.com/homeserveusa and www.facebook.com/HomeServeUSA.
