PIC’s success in being chosen by our customers for buy-in and buyout transactions reflects not only our ability to competitively price and structure innovative insurance policies, but also reflects the excellence of our administration and transition teams.
Valuing our customers is at the heart of PIC’s Values and customer service is one of four Key Performance Indicators that the company uses to ensure that it is operating to the highest standards. This means that:
- We differentiate ourselves in the market as the leader in customer service.
- We are clear about our promises and make sure we deliver against them.
- We have the expertise and capability to be able to transact complex deals that other insurers would not take on.
We were looking for an insurer that would really value the members and take care of the members going forward….so a lot of our questioning when people came in for the evaluation was around that ‘member care’, as I would call it. There was no doubt that PIC scored very, very highly, because we drew up a matrix of things that we were going to measure. As I said, price was just one of those, but on the member care the others just couldn’t touch PIC…. If PIC had been slightly more expensive than our competitors but we had still felt they were the only ones who had demonstrated that to us, I think we would have still gone with them."Teresa Maclagan Trustee, NCR Pension Plan
Policyholder satisfaction is measured in a number of ways and is a key part of PIC’s ongoing commitment to improving customer service:
Monitoring of complaint levels and analysis of complaint root cause.
Stringent oversight of administrators such as:
- Monthly file and call review.
- Regular site visits.
- Weekly operational catch ups and formal monthly service review:
- Face-to-face feedback at Policyholder Events.
- Institute of Customer Service ServiceMark survey.
- All complaints reviewed by senior management and the Board.
- 99.1% of policyholders expressed overall satisfaction with our service in 2019.
- 83.9% gave us the maximum score.
- Complaints per thousand policyholders of 1.58 for the first half of 2016, and 1.45 for the second half of the year.