Sumary of Metropolitan tops in satisfying policyholders – index:
- The model links customer expectations, perceived quality and perceived value to customer satisfaction, which, in turn, is linked to customer complaints, and recovery, as well as customer loyalty intentions.
- MORE ON THISAlthough FNB Life did well in the index, the report found that the insurer had a three-year marginal decline in its overall customer satisfaction score, which required it to identify and address the root cause of the decline.
- 1Life Insurance, Metropolitan and Standard Bank all showed a significant improvement from their 2019 overall customer satisfaction scores, with at least a three-point improvement from their previous scores to put them in leading positions.
- Discovery Life at 73.8 points and Liberty at 72.1 points were significantly below the 78.8-point par in overall customer satisfaction scores.
- Discovery showed a three-year consecutive decline on its customer satisfaction score, while Liberty slipped back with an almost three-point decline after showing some improvement in its 2019 score.
- Both insurers have dropped to their lowest customer satisfaction scores since 2016.Ineke Prinsloo, the head of customer insights at Consulta, said the Covid-19 pandemic had brought life insurance into the mainstream of consumer dialogue.
- “The pandemic seemed to have narrowed the degrees of separation as the rising Covid death toll is reported daily.
- She said it was clear that the customer expectations of 2019 were not the same as those in the current environment, and fundamental shifts had taken place, both perceptually and in practice.