Unum is committed to treating customers fairly and providing them with the most appropriate protection solution for their needs. As part of this commitment, we have been members of the Association of British Insurers’ (ABI) Customer Impact scheme since its inception in 2006.
The scheme aims to increase the transparency of the pensions, protection and investment industry, improve the experience of customers and demonstrate the commitment of participating companies.
Unum takes steps each year to ensure the interests of our retail customers are at the heart of our business. We carry out an annual survey to monitor the perceptions of our customers as well as our progress against three specific Customer Commitments:
- Develop and promote products and services which meet the needs of our customers.
- Provide customers with clear information and good service when they buy our products.
- Maintain appropriate and effective relationships with customers, providing them with a good service after they have bought a product.
The Customer Commitments incorporate key focus areas for the insurance industry and have been developed around the factors that are most important to customers. Each year, we will produce a report based on our survey results, detailing how we are striving to meet these Commitments and deliver the best possible service to our customers.
Highlights from Unum’s 2008/2009 Customer Impact Report:
“At Unum, we faced the difficult economic conditions head on and brought our customers a range of product and service updates and innovative features. We continued to demonstrate our expertise in the individual income protection market by maintaining a range of income protection plans, each of which has been designed to meet different customer needs, including those in high risk occupations and the newly self-employed.” Susan Ring, Chief Executive Officer, Unum
The aim of the annual customer research that is carried out with our retail policyholders is to provide hard, relevant and verifiable data about our retail proposition in 4 areas:
- Aspects of Unum’s products
- The quality of customer service
- The clarity of communication
- Perception of long-term relationship with the insurance industry
- Customer Commitment 1 - Develop and promote products and services which meet the needs of our customers
The first Commitment companies make under the Customer Impact Scheme involves a promise to develop and promote products that meet customers’ needs.
86% of our customers rated the service as excellent/very good/good and we have maintained a quartile 2 position for three years running.
- Customer Commitment 2 - Provide customers with clear information and good service when they buy our products
This Commitment measures two aspects of the sale – the sales process and the sales person. As we market our products exclusively through the intermediary sales channel it is vital that we provide financial advisers with first-rate service and an effective sales process so that this can be passed on to the customer.
92% of our customers rated the service as excellent/very good/good. This score has moved Unum into the top quartile for the second Customer Commitment.
- Customer Commitment 3 - Maintain an appropriate and effective relationship with our customers, providing them with good service after they have bought a product
This Commitment provides measures of the customer’s experience with Unum’s written communications, customer service centre, claims and complaints.
83% of our customers rated the service as excellent/very good/good. This score places Unum in quartile 4, the same as in 2007/08.
For a full analysis of this year’s survey results and the actions that Unum is taking to improve our customers’ experience at every stage of the relationship, you can download this year’s Report by visiting our Literature section.
Further information on the Customer Impact scheme is also available on the Customer Impact website - http://www.customerimpact.org/