March 2017 Case Study. The Health Insurance Group achieves a 3-star Exceptional accreditation for customer experience

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1 March 2017 Case Study The Health Insurance Group achieves a 3-star Exceptional accreditation for customer experience

2 IIC is now widely recognised as the benchmark to articulate the delivery of customer satisfaction Anon IIC Customer About IIC Investor in Customers (IIC) provides an independent assessment of excellence in the field of customer service and customer relationships. The assessment is based on internal and external perceptions of the customer experience. Customer Perception Staff Perception IIC Assessment We truly value the in-depth feedback the IIC survey provides us each year, giving an excellent insight into how our clients view our service Anon IIC Customer IIC Perception Managers Perception

3 Introduction The Investor in Customers model tests the extent to which businesses: 1) Understand the needs of their customer 2) Meet those needs through their products and services 3) Delight their customers through the delivery of those products and services; and 4) Create loyalty amongst customers and staff Understand Customer Needs Know your customers Meet Customer Needs Product/service quality Delight Customers Treating customers fairly Engender Loyalty Repeat purchases Understand needs Match to customer needs Right first time Willing to recommend Anticipate needs Customer feedback Customer always right Quality relationships Communication Easy to do business with Post-sales service Customer experience Data is collected by online questionnaire with the assessment questions all scored out of 10. IIC will then award a star rating to those companies that have met the required standard either 1, 2 or 3 stars, depending on the overall score achieved. Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld For more information visit investorincustomers.com

4 Background Key findings from The Health Insurance Group The Health Insurance Group is one of the largest independent healthcare intermediaries in the UK. They have the ambition to be the UK healthcare intermediary of choice, and that ambition can only be realised if they listen to their clients and work hard throughout the business to improve and maintain their service offering. The Health Insurance Group first went through the Investor in Customers (IIC) process in 2014, and achieved a strong 2-star Outstanding IIC score. They underwent a second assessment in November 2016 and through putting in a lot of work internally, have achieved a 3-star Exceptional rating. The below chart shows their huge improvements: Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld 65% of customers scored the NPS question 9 or 10 out of 10

5 All but one of the scores fall into the 3-star category, showing an enviable degree of consistency. Their highest customer score was Delight Customers reflecting a very strong customer service ethic. The company achieved a good, positive Net Promoter Score which was in line with the customer assessment scores, 65% of customers scored the NPS question 9 or 10 out of 10. Two customer quotes sum it up well: Comments include: They are extremely professional, courteous, efficient, pay attention to detail and generally go the extra mile Good prompt service from the company and I would not hesitate to recommend to other companies or individuals that I deal with. Very efficient and professional people who listen to what I require and do their utmost to match my needs. Although we are only small in terms of our needs for their service, they always treat us as though we are a key customer and offer us an excellent service. The top customer theme scores were: Quality Relationship Customer Feedback Right first time Treating customers fairly Easy to do business with Because the staff consistently go out of their way to assist in any queries/problems. They make you feel like a valued client which results in an excellent business relationship. I believe a business is only as good as their staff, that is why THIG are our automatic choice for health insurance advice. Just some of the comments The Health Insurance Group s customers used to describe them. Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld For more information visit investorincustomers.com

6 Staff Feedback The highest score from staff came in response to the statement Willing to recommend which scored a high 9.18 out of 10. This is an indicator that the staff truly believe in the service and products that they are offering. Senior management s highest score came from Treating Customers Fairly which, of course, is an essential requirement for financial services companies. The close alignment in scores between staff and customers, clearly shows that The Health Insurance Group are working in the right direction to maintain and improve their scores. They don t intend to rest on their laurels though and are striving for improvements across the company which will be based on some of the comments received from customers and staff during the process. Senior management and staff relationships are very strong. Communication, honesty and engagement between staff and senior management team is excellent. Great service delivery starts with creating a strong culture and positive working environment where our staff live our values every day. We re proud that our people are focusing on meeting the needs of our customers and in many cases, surpassing those expectations. Brett Hill, Managing Director, The Health Insurance Group

7 Summary The Health Insurance Group is committed to delivering an exceptional customer experience across all areas of their business. In the 3 years we have been working with them, they have introduced a number of initiatives to empower staff to put the best interests of their customers first. We congratulate them on the award of a 3-star Exceptional accreditation. Tony Barritt Managing Director, Investor in Customers Ltd. Achieving the top IIC rating is a massive achievement and demonstrates that our people, and their commitment to our customers, are at the heart of everything we do, delivering a great experience every time. As a business that exists to provide independent impartial advice it has been incredibly rewarding to see that our clients score us so highly on our ability to meet their needs. We are determined to build on this to provide an even better customer experience in the future. Brett Hill, Managing Director, The Health Insurance Group For more information visit investorincustomers.com

8 Be Remarkable. If your goal is to deliver a remarkable customer experience, contact Investor in Customers today. We ll help you to build a better business. T: E: enquiry@investorincustomers.com 17, Ensign House, Admirals Way, Canary Wharf LONDON E14 9XQ investorincustomers.com