FANews
FANews
RELATED CATEGORIES

Fedgroup’s awards achievement shows bigger is not necessarily better

13 April 2018Grant Field, FedGroup
Grant Field, CEO of Fedgroup.

Grant Field, CEO of Fedgroup.

Fedgroup’s wins at the PMR.africa Awards indicate that independence, agility, and innovation result in excellence.

Fedgroup’s run of wins at the latest PMR.africa Awards shows that South African industry juggernauts are often not the experts’ first choice in delivering employee benefits. Fedgroup was named the best provider in the country in two subcategories, and achieved a gold award in the remaining subcategory, ahead of the larger institutions.

“What makes these wins so significant for us is that there is no way to motivate for or nominate ourselves. The outcome of the survey is purely based on feedback from the industry – from interactions with brokers, intermediaries and financial advisors. These industry experts deal across providers and are therefore perfectly positioned to compare like with like. For Fedgroup to be voted number one in the country ahead of all the big incumbents therefore speaks volumes,” says Grant Field, CEO of Fedgroup.

Only three awards are up for grabs in each PMR.africa subcategory, a Gold, Silver and Bronze arrow, for first, second and third place respectively. In exceptional circumstances, a Diamond Arrow can also be awarded if a first-placed finalist receives an outstanding score from industry experts. Fedgroup achieved this rare honour in both the Group/Life Risk Products and in the Group Pension and Provident Fund subcategories. In the remaining Employee Benefits subcategory, Investment Products, Fedgroup took home a Golden Arrow.

Fedgroup is the country’s leading independent financial services group. Field says that since inception 28 years ago, the goal has been “to combine traditional values with cutting-edge technology, putting people ahead of obscene profits.”

“As an independent provider, Fedgroup has the flexibility to improve year on year, based on the praise and criticisms of our customer base,” says Field. “We believe that best practice in our industry should be defined by the beneficial influence we can have on our clients’ lives. And these awards affirm for us that we’re getting that right.”

In an industry that is dominated by a mere handful of bloated providers, one can be forgiven for believing that there is a lack of choice. Field, however, believes that it is the mid-sized companies that are best positioned to make the greatest impact.

“Our high growth in recent years bears testament that the tide is turning against the profit-centric and sometimes arrogant approach of big business. Clients like to be treated as people first, and we believe that’s where independently-run organisations like our own can make a difference.”

Specifically, Fedgroup has in place an innovative management model that encourages improvements to service levels, and sophisticated technology supporting its staff.

“We support our staff – our people – with a management approach that encourages innovation, initiative and, naturally, great service. This approach, we believe, attracts staff that think the same way we do – and it is because of them that we are in a position to achieve these awards,” says Field.

This is essential at a time when clients are expecting increased levels of personalisation and responsiveness from their service providers, thanks to advances in technology, data analysis and social media. Consumers expect to be heard when they are unfairly treated – and are increasingly intolerant of organisational inefficiency.

Because Fedgroup has invested heavily in tech solutions, its workforce will never shirk the ethic of personal responsibility and efficacy, even as the company continues on its high-growth path. “We will never pursue profits at the expense of people because we don’t have to pay ever-increasing dividends to shareholders,” says Field. “Rather, we can reinvest in the business, hire the right people and work towards long-term relationships with clients, and a sustainable organisation. We are confident that our performance in the PMR.africa Awards will continue to bear this out in the years to come.”

Quick Polls

QUESTION

A few years ago, clients had to prove themselves to insurers. Things have changed. Do you believe the onus of proof lies with the insurer today?

ANSWER

Yes
No
It depends
AE fanews magazine
FAnews April 2018 EditionGet the latest issue of FAnews

This month's headlines

New draft premium collection legislation
Insurers… close to sleep deprivation
Disability cases are not for amateurs
A rethink of product strategies
Will retirement really last a lifetime?
Subscribe now