Absa Life earns top spot on customer satisfaction index
Absa Life has been named South Africa’s leading life insurance provider in the Consulta South African Customer Satisfaction Index (SA-csi).
The life, disability and critical illness insurer led the market on all index metrics and boasted an overall customer satisfaction index of 84.9 – which positions the business far ahead of the industry average of 81.1.
“We are passionate about service and this magnificent achievement validates one of our foremost goals of prioritising customer needs in pursuit of our closer-to-customer strategy,” said Eugene Strauss, Managing Executive at Absa Life.
“The past year continued to challenge many individuals and families as a result of the pandemic. We prioritised payment of claims, to provide our customers with the peace of mind that possibilities for their future generations are enabled.”
Strauss highlighted that over the past year, it paid out significantly higher volumes of claims than previously – helping its customers in their greatest hour of need.
“We introduced premium payment relief to assist our customers when they needed it most,” said Strauss.
“We place value on engaging our customers – we integrated human interaction into our digital offerings as part of our closer to customer strategy,” Strauss added
Index insights
Consulta, who conducted the SA-csi survey, noted an increase in the complaint incident rate across the life insurance industry in 2021. However, it noted that Absa Life actually incurred fewer complaint incidences over the past year.
Consulta also found that Absa Life customers feel they are being treated more fairly than customers from any other life insurer.
Absa Life led on all other aspects under evaluation, and Strauss thanked the insurer’s customers for their continued support and loyalty.
“We are focused on continuing to delight customers with a superior product experience – whether they opt for our life insurance, disability, critical illness, credit life and loss of income products or funeral insurance cover,” said Strauss.
“In our continued efforts to become the leading bancassurance ecosystem, we leverage an integrated bank offering to better service customer requirements,” Strauss added.
About SA-csi
The SA-csi is an independent national benchmark that measures customer satisfaction with the quality of products and services available to household consumers in South Africa.
It uses a combination of weighted indices across perceived quality, perceived value and customer expectations, in addition to tracking customer complaints and indications of likelihood to repurchase in future.
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