FANews
FANews
RELATED CATEGORIES

Metropolitan remains a market leader for customer satisfaction

22 March 2022 Metropolitan

The past two years haven’t been easy for South Africans, with the spike of COVID-19 contributing to a significant number of claims as per the Momentum Metropolitan Holdings (MMH) interim results.

However, as a life insurer, Metropolitan strived to ensure their customers’ peace of mind by providing the support they need in difficult times through excellent service and product offering. This customer focus was underlined by the latest South African Customer Satisfaction Index (SA-csi) for Life Insurance results released by Consulta in the last quarter of 2021, which shows that Metropolitan once again took a market leader position for customer satisfaction with an increased score of 84,6 from 83,2 in 2020.

“Since 2017, there has been a gradual increase in our performance, which speaks to our consistency as a brand that strives to provide the best possible service for our valued customers. These results also demonstrate our continuous commitment to deliver impeccable service and exceed customer expectations”, says Peter Tshiguvho, Metropolitan CEO.

Perceived Value
In a highly competitive industry, the perceived value, which measures the quality offered to customers relative to the price they pay for services and products, is regarded as one of the most critical drivers of overall customer satisfaction. The index results reveal that Metropolitan scored 86,4 in this category, taking the lead on Perceived Value from customers, along with Absa Life, FNB Life, and Old Mutual.

Customer Expectations and Perceived Quality
Metropolitan scored the highest among other insurers in meeting and exceeding customer expectations. “With the quality of our products and services, we always aim to exceed customer expectations. We have proved to do just that as our customers have scored us 87,9 in exceeding their expectations,” says Tshiguvho.

Treating Customers Fairly (TCF)
“We believe that every customer is part of the Metropolitan family and deserves to be treated fairly and with care,” says Tshiguvho. The life insurer scored high in treating customers fairly at 87,0, which is above the industry par.

“Over the years, we have listened to our customers and have considered their feedback to improve our services and product offerings. We will continue to work hard to ensure we provide the quality service they deserve. We want to give our customers peace of mind while helping them achieve their financial life goals,” concludes Tshiguvho.

Quick Polls

QUESTION

How confident are you that insurers treat policyholders fairly, according to the Treating Customers Fairly (TCF) principles?

ANSWER

Very confident, insurers prioritise fair treatment
Somewhat confident, but improvements are needed
Not confident, there are significant issues with fair treatment
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now