By: Old Mutual
Underscoring its commitment to becoming its customers’ most trusted financial partner, Old Mutual continues to shine bright in delighting customers with market-leading experiences, the 2019 South African Customer Satisfaction Index (SA-csi) for Life Insurance shows.
Customers who participated in the independent survey during the latter part of 2019 voted Old Mutual tops when it comes to meeting and exceeding their expectations (Customer Expectation score of 84,1), and delivering quality service (Perceived Quality score of 84,7).
In the Overall Index for Customer Satisfaction, Old Mutual is also the only traditional life insurer in the top 3, behind Absa Life and FNB Life. This performance is similar in other key categories:
- Customer Loyalty: Old Mutual, together with these two banks, have the highest percentage of loyal customers, and have shown a marked improvement on its 2018 results
- Net Promoter Score (NPS): At a score of 40.8, Old Mutual is the only traditional insurer in the top 3; improving on its previous year’s score and remaining well ahead of the industry standard (33.7)
- Perceived Value: Old Mutual, together with the two banks, leads with a score above 81 that reflects a very high perception of value for money. This is “a strong predictor of future take-up and company growth,” explains SA-csi.
“We want to thank our customers for this immense vote of confidence,” says Vuyo Lee, Chief Marketing Officer of Old Mutual. “As Old Mutual marks its 175-year anniversary this year, the latest SA-csi results bear testimony to the fact that our brand continues to grow because customers trust us and they rate the reliability of our offerings. This remains the bedrock of our brand.”
Lee says the financial services leader continues to make great strides to be more operationally efficient and remain relevant to its customers of the future. “Since our listing as Old Mutual Limited in 2018, we have focused on making essential culture shifts to champion positive futures for our customers every day and build a truly customer-led organisation.
“This means that we continuously listen to customers so that our solutions and servicing delight them and they know they are dealing with a company that understands them,” she explains.
“With ever-changing consumer needs, we have also been working relentlessly to become a digitally enabled business. We are transforming our business to be more agile and we continue to invest in innovation so that our solutions and services remain relevant in today’s high-tech world where flexibility, simplicity and speed are so important.
These include the development of new customer-centric websites, upgraded e-commerce services, a new app for customers to view their portfolios and the launch of new mobile services. For example, Old Mutual customers can now use their mobile device to submit a funeral claim or access certain savings and investment products via WhatsApp or by using a USSD code, which is now free to dial. No airtime or data costs apply.
“We exist because of our customers. Therefore, we know that our brand will only continue to grow when we are consistent in our purpose, keep our service promise and excel in our delivery to satisfy the needs of our customers. Through the latest SA-csi results customers are telling us we remain on the right track,” Lee concludes.