Insurance and pension operators were set as Siamese twins that need to raise the bar of their customer services and bring it to the level it will be adjudged as ‘prioritising excellent customer service.’
Management and economic consultant, Dr. Biodun Adedipe, who is the chief consultant, B. Adedipe Associates Limited, while delivering the keynote address at the 6th BusinessToday Conference in Lagos at Radisson Blu Hotel Ikeja today (April 5th) said businesses thrives when profit making entities get, keep and cover the cost of doing both, with something left to show for the efforts.
As he sails through the topic, ‘Prioritising Excellent Customer Services In Insurance And Pension Business’ Adedipe said the customer should not be labelled as the buyer of insurance promise for loss recovery for the risk-vulnerable, or another retiree receiving benefits after active service life, but one that insurer and pension benefits providers offer the customer service that earns patronage repeated over and over again.
He said services offered by both industries should get to the point where the customer “perceives that the value in your product/service is greater than or equal to what s/he pays for it.” He explained that this proven mantra should impress any wise insurance and pension services provider “to work hard to build and sustain customer loyalty which begins at creating an awareness of your brand and product offerings.”
He urged the attendees from across the two industries to project excellent customer service and sustain the focus that guarantees with ease that claims will paid when risk happens and the retiree gets preferred benefit at the end of service without qualms from the PFA. To get this going well, Adedipe said they should have a clear understanding of who the customer is, the problems the customer wants solved, how, where and when customers want those problems solved. Besides , he said existing excellent customer service should include what customers are willing to pay happily for solution offered and, how much customers value your your relationship with them.
Urging the operators to have a change mind-set that emphasises the customer at all points, bearing in mind that “The customer has a choice, he can choose you or somebody else.”
Adedipe stated that people are central to insurance companies and pension fund administrators existence, survival and sustenance. Therefore, he said “Managing their perceptions will make or mar the practice, as such perceptions determine the choices and decisions that those customers make. ” Amplifying this narration, he said, “People are important to every entity, whether public or private. They are our contact point, they are the ones we market, and they are the real buyers.”