The Association of British Insurers has put together a benchmarking survey to determine whether insurers and the distribution channels they use satisfy customers. The Association of British Insurers recently met with providers to explain the benchmarking survey that it hopes will measure customer views of the life and long-term savings industry. So far, participating companies, which represent 80% of the industry, have each agreed to commission an annual telephone survey of 750 customers who have bought a product in the last six months.
Once the survey, which is expected to cost each company a five-figure sum, is completed in the autumn of this year, the ABI will collate the responses and produce an annual report in 2006 on the performance of the industry.
Our view
Anything that sets a standard that providers can be judged upon has to be a good thing.