Mutual & Federal achieves above industry-average rating in the 2013 South African Customer Satisfaction Index

26 November 2013 Raimund Snyders, Mutual & Federal
Raimund Snyders, Mutual & Federal Chief Executive.

Raimund Snyders, Mutual & Federal Chief Executive.

Customers indicate above industry-average satisfaction levels shortly after voting Mutual & Federal as their Most Trusted Brand.

Mutual & Federal, South Africa’s oldest short-term insurance company, has been rated above the industry average in the 2013 South African Customer Satisfaction Index (SAcsi). The results come shortly after the company was voted the Most Trusted Brand in this year’s inaugural Reader’s Digest Most Trusted Brands survey.

The SAcsi is a national economic indicator of customer satisfaction with the quality of products and services available to household consumers in South Africa - customers rated Mutual & Federal 79.8 (out of 100) in this year’s survey. "This places us 2.3% ahead of the industry average of 77.5 and leaves us in an admirable second position in terms of overall customer satisfaction in the short-term insurance industry,” says Raimund Snyders, Mutual & Federal Chief Executive.

"The vote of confidence from our consumers indicates that we are on the right track with our vision to put their interests first and build Mutual & Federal into Africa’s best short-term insurer,” Snyders says.

"More importantly, it means that our customers themselves acknowledge our efforts to re-organise our business priorities around them,” he adds. Snyders says that Mutual & Federal regards the SAcsi feedback "as valuable insights on the salient features that customers perceive as value from a short-term insurer”.

The SACsi customer satisfaction scores were based on the following criteria:

• Views of customers who have purchased short-term insurance products from Mutual & Federal.
• Customer’s cumulative experience of our brand, rather than a once-off, thereby reflecting our customers’ loyalty to the brand.
• Customer’s expectations, perceptions of quality and the value they derive from our products.
• Reviewed outcomes such as complaints (negative outcome), customer retention and price tolerance (positive outcomes).

Snyders indicates that as a customer-focused business, Mutual & Federal places significant emphasis on any customer satisfaction survey. "As such, we remain committed to continue going beyond insurance and owning the experience we provide to our customers in the endeavour to delight them and achieve our vision to become the best short-term insurer in Africa,” he concludes.
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