Old Mutual stands out in South African Customer Satisfaction Index

“Old Mutual Insure stands out in delivering consistent customer experience- whether dealing with a broker or directly with the insurer

Old Mutual Insure continues to invest in improving the customer experience and this can be seen by its recent performance in The South African Customer Satisfaction Index (SACSI), a national independent, benchmarked assessment of customer satisfaction. Conducted annually, the SACSI rates the opinion of customers on the quality of products and services available to household consumers across South Africa.

The 2020 survey differentiates between direct and intermediated (broker-driven) insurers and it shows unequivocally that customers satisfaction is better in the intermediated segment. “This points to the enduring value of advice and personal relationships even as we work to deploy technology to improve the customer experience,” says Christelle Colman, Insurance Expert at Old Mutual Insure. In short, customers prefer to be guided through the insurance process by sound advice.

The SACSI 2020 results show that, “Old Mutual Insure stands out in terms of delivering a consistent experience for customers - whether they deal with a broker or directly with the insurer,” observes Colman.

Some important takeaways from the 2020 SACSI Survey:

• Old Mutual Insure along with Virseker, OUTsurance and Santam all rated highly on perceptions of Quality.
• In the intermediated space, Old Mutual Insure lead the pack on Customer Satisfaction.
• Despite a tough economy, Old Mutual Insure, “returned strong and consistent improvements on overall satisfaction, perceived value and perceived quality measures,” said Colman.
• Amongst intermediated insurers, Old Mutual Insure, Momentum, Hollard and Auto & General all exceed expectations on perceived quality.
• Old Mutual Insure also leads on customer loyalty in the intermediated space.
• While Customer Expectations were generally high across the industry, Old Mutual Insure, Santam, Virseker and OUTsurance customers returned the highest expectation scores.
• 2020 SACSI data shows that customers rate Peace of mind, Keeps promises, Listens and Responds and Staff knowledge as key drivers of satisfaction. Amongst intermediated insurers, “Old Mutual Insure stood out as leader on all four key drivers,” says Colman.
• In the intermediated category, Old Mutual Insure also received the highest Net Promoter Score in 2020. Net Promotor Scores measure the likelihood of a person recommending a brand.
• Old Mutual Insure was placed second, after Virseker, for Treating Customers Fairly.

The SACSI survey is especially important to Old Mutual Insure as it records and benchmarks the views of the people who use Old Mutual Insure’s products and experience its service every day across South Africa.

“Appearing amongst the leaders in key categories of this critical customer satisfaction measure is testament, to our efforts to leverage technology to manage risk more effectively in the digital age without losing our ability to advise or the power of deep personal relationships,” concludes Colman.