ABI Publishes Results Of Customer Impact Survey
This week the Association of British Insurers published the results of the Customer Impact Survey 2007/08. The survey records customer satisfaction and personal experience with all aspects of life insurance, pensions and investment industries. Introduced two years ago, the survey deals with 32 companies and has some 20,000 customers taking part.
Overall, the results revealed positive feedback from customers with 85% more than satisfied with the way insurance companies 'treat' their customers. The industry's reputation is up on last year's figures from 48% to 53% with only a mere 3% expressing negativity for poor handling of customer complaints. In this area, the insurance industry requires a little more work in order to make room for improvement.
ABI Director of Life and Savings Maggie Craig said, "Despite the fact that this year's Customer Impact Survey was carried out at a time of economic uncertainty, when consumer confidence overall had dipped, the results show that the insurance industry is making some progress in improving customer experiences. The industry recognises that Customer Impact Scheme is a long-term undertaking and that it will take time for the full effect of the industry's work to be seen."
She added, "Individual companies are already learning from their survey results, and are changing practices and procedures. Industry guidance for companies has been rolled out, including on product design, management information and complaint handling. Companies are working to improve their written communications with customers. And the ABI has worked with the AIFA (Association of Independent Financial Advisers), to clarify and reinforce the roles of providers and advisers throughout the sales process. Over time, these and other initiatives will further improve customer service across the life and pensions industry."
If you need affordable insurance one of the best practices is to compare online. Visit our Insurance page to easily compare home, life, car, travel insurance and more with just one-click.
Published on February 21, 2008
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