British Assoc. Reveals Customer Survey

The ABI (Association of British Insurers) has published the results of the Customer Impact Survey 2007-08. The Survey, which measures customer satisfaction with and experience of the life insurance, pensions and investment industry, is now in its second full year, with 32 companies and almost 20,000 customers taking part. The latest results show that overall satisfaction with the long-term insurance industry remains high, with 85 percent of consumers stating that their provider ‘treats customers fairly.’ A majority of people, 53 percent, agreed that the industry has an excellent reputation, up from 48 percent last year. But room for improvement remains, in particular on complaints handling. While only 3 percent had cause to complain to their provider, 57 percent of these felt that their complaint had been handled poorly. “Despite the fact that this year’s Customer Impact Survey was carried out at a time of economic uncertainty, when consumer confidence overall had dipped, the results show that the insurance industry is making some progress in improving customer experiences. The industry recognises that Customer Impact Scheme is a long-term undertaking and that it will take time for the full effect of the industry’s work to be seen," said Maggie Craig, ABI director of Life and Savings.