NMG wins PMR Diamond Arrow Award

NMG has won several of the highly acclaimed PMR (Professional Management Review) Awards over the past few years and has again won top honours in its category in the 2010 National Survey on Pension Fund Administrators, Consultants, Product Providers and Insurers in South Africa by being awarded highest award, the PMR Diamond Arrow Award!

PMR.africa has again conducted its annual, national survey assessing Pension Fund Administrators, Consultants, Product Providers and Insurers in South Africa.

The respondents were asked to rate the Pension Fund Administrators, Consultants, Product Providers and Insurers they deal with across a range of 19 attributes, namely:

· Accessibility to appropriate administrative personnel
· Accuracy of member benefit statements
· Administration/IT systems
· Communication of benefit options
· Communication of general issues and problems
· Efficiency in dealing with member’s changes in benefit options
· Efficiency/accuracy of benefit payments
· Efficiency/changes of membership
· Flexibility/adaptability
· Knowledge of staff
· Power of staff to make decisions and solve problems
· Quality of problem resolutions
· Simplicity and clarity of member benefit statements
· Speed of problem solving
· Speed/ease of claim settlements
· Timeousness and accuracy of pension fund account
· Value added initiatives
· Value for money
· Website accessibility for members and employers.

The results are split into the following categories:

· Large Pension Fund Administrators and Consultants (administering more than 100,000 members)
· Large Pension Fund Administrators (administering more than 100,000 members) and Product Providers: Insurers
· Medium-sized Pension Fund Administrators and Consultants (administering between 20,000 and 100,000 members).

The ratings are based on the perceptions of the respondents.

Research process:

Universe: Listed and large companies in South Africa.

Timing: Interviews were conducted during June, July, August and September 2010.

Methodology: Interviews were carried out telephonically utilising semi-structured questionnaires. Back-checks were conducted at all stages of the fieldwork. 100% checked on input quality and completeness.

AWARD STATUS CRITERIA

Diamond Arrow: Ranked 1st overall and rated at least 4,10 out of 5,00 (outstanding)

Gold: 1st or 2nd overall and rated at least 3,75 (excellent)

Silver/Bronze: 1st, 2nd or 3rd and rated at least 3,40 (very good)

NMG Consultants and Actuaries Administrators were the highest rated of all participants on a mean score of 4.40 out of a possible 5.00, and therefore receives the Diamond Arrow Award for highest overall score.