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Setting a solid foundation for doing better business

23 May 2017Jonathan Faurie
Frans Stander, GM Business Development, Consulta

Frans Stander, GM Business Development, Consulta

Mokaedi Dilotsotlhe, Executive Head of Brand and Marketing, Santam

Mokaedi Dilotsotlhe, Executive Head of Brand and Marketing, Santam

Antonia Oakes, Head of Customer Experience, Mutual & Federal

Antonia Oakes, Head of Customer Experience, Mutual & Federal

In uncertain times, most people want to have the peace of mind that the people that they do business with have their best interests at heart.

It is no news then that the public will read articles about the South African Consumer Satisfaction Index (SAcsi), which measures the Best and Worst Short Term Insurers, with great interest. FAnews spoke with the people involved in the research done to determine this list as well as two companies who performed well during 2016. 

Talking to the masses

The research done to determine the list on the best and worst insurers in the short term industry is done by consultation company Consulta. 

Frans Stander, GM Business Development at Consulta, says that the questionnaire is aligned to that used by the American Customer Satisfaction Industry, which is made up of six main sections. 

“This forms the main portion of the measure. We ask questions related to customer expectations – what is expected from a provider, actual experience – how does the provider life up to expectations, value – the perceptions of offering quality and price, overall satisfaction –  information which gives an overall indication of total satisfaction, complaints – information relating to the number of complaints and the handling thereof, loyalty – which relates to the likelihood of choosing the provider again and price tolerance; and finally, we also include perceptions of TCF,” said Stander. 

Improved processes

According to the SAcsi index, Santam was named the best short term insurer in the country. 

Mokaedi Dilotsotlhe, Santam Executive Head of Brand and Marketing, points out that a lot of work goes on behind the scenes to achieve this.  

“Santam has made considerable investments into improving its underwriting capabilities and claims processing model. We feel that this investment has started paying dividends resulting in an improved claims experience for customers. We have also made improvements to our claims processing model. The process has been streamlined making it easier for customers to lodge a claim and have these settled as quickly and efficiently as possible,” said Dilotsotlhe. 

She adds that Santam’s digital and social media platforms have enhanced client interaction and engagement. Clients can obtain information, request a quote or lodge a complaint. Santam also shares educational content that helps consumers better understand insurance risks. “This has been a key driver for engagement,” says Dilotsotlhe. 

A matter of pride

According to the SAcsi, Mutual & Federal was the second best short term insurer in the country. 

Antonia Oakes, Head of Customer Experience at Mutual & Federal, says that employees feel proud to be associated with a brand that is recognised as one of the industry’s top customer satisfaction brands. This encourages staff to serve both brokers and customers excellently. 

When compared with the 2015 SAcsi index, there was a slight drop in M&F’s score. Oakes points out that this gives the company a clear vision of what needs to be done and what contributed to the decrease score. 

“Customers place great value on their trust in a brand, the availability of service, communication and the ease of use. Should any of these elements be lacking, the customer’s expectation slides. Therefore, we need to deliver on service as if it were the last thing the company does. We need to set realistic expectations (service promises) which we are able to deliver on. The deterioration in the score this year was largely a result of a lack of good service delivery across key moment-of-truth touch points within the insurance lifecycle,” says Oaks. 

Surveys such as these puts the value placed on TCF into perspective and allows clients to have a peace of mind.

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