PR - Metropolitan remains a market leader for c...
Metropolitan remains a market leader for customer satisfaction
The past two years haven’t been easy for South Africans, with the spike of COVID-19 contributing to a significant number of claims as per the Momentum Metropolitan Holdings (MMH) interim results. However, as a life insurer, Metropolitan strived to ensure their customers’ peace of mind by providing the support they need in difficult times through excellent service and product offering. This customer focus was underlined by the latest South African Customer Satisfaction Index (SA-csi) for Life Insurance results released by Consulta in the last quarter of 2021, which shows that Metropolitan once again took a market leader position for customer satisfaction with an increased score of 84,6 from 83,2 in 2020.
Peter Tshiguvho, Metropolitan CEO explains,
Since 2017, there has been a gradual increase in our performance, which speaks to our consistency as a brand that strives to provide the best possible service for our valued customers. These results also demonstrate our continuous commitment to deliver impeccable service and exceed customer expectations.
In a highly competitive industry, the perceived value, which measures the quality offered to customers relative to the price they pay for services and products, is regarded as one of the most critical drivers of overall customer satisfaction. The index results reveal that Metropolitan scored 86,4 in this category, taking the lead on Perceived Value from customers, along with Absa Life, FNB Life, and Old Mutual.
Customer Expectations and Perceived Quality
Metropolitan scored the highest among other insurers in meeting and exceeding customer expectations. “With the quality of our products and services, we always aim to exceed customer expectations. We have proved to do just that as our customers have scored us 87,9 in exceeding their expectations,” says Tshiguvho.
Treating Customers Fairly (TCF)
“We believe that every customer is part of the Metropolitan family and deserves to be treated fairly and with care,” says Tshiguvho. The life insurer scored high in treating customers fairly at 87,0, which is above the industry par.
“Over the years, we have listened to our customers and have considered their feedback to improve our services and product offerings. We will continue to work hard to ensure we provide the quality service they deserve. We want to give our customers peace of mind while helping them achieve their financial life goals,” concludes Tshiguvho.
The SA-csi for Life Insurance is the most comprehensive survey of customer satisfaction, and is a causal model that links customer expectations, perceived quality, and perceived value to customer satisfaction (the SA-csi score), which in turn is linked to customer complaints (and recovery), and customer loyalty intentions. As a strategic tool for gauging the competitiveness of individual firms and predicting future profitability, an organisation’s customer satisfaction performance, as measured by the SA-csi methodology, provides a predictive indication of how well the firm will perform in terms of future revenue and earnings growth.