Allianz Nigeria, local operating entity of global insurance giant, Allianz appears to be getting it right with the retail segment of the market. Head of Customer Experience at Allianz Nigeria, Uti Ellu recently disclosed that they now score an 80 percent satisfaction level based on ratings by over 1,000 retail customers.
“We launched an API that integrates to our insurance suite and generates a link to rate the company following any consumer interaction such as policy inception or claims settlement” explains Uti.
She continued: “the customer receives an email prompting them to follow a link and rate their satisfaction level on a 1-5 scale. The aggregated score from over 1,000 customer respondents as at end of H1 2019 places the company at 4 star or 80 percent pass mark”.
Commenting on their key source of competitive advantage, Owolabi Salami, executive at Allianz Nigeria clarifies: “We ensure that all of our people always talk straight. Then, we make certain that we walk the talk. If we say we will pay your claim, we pay it. We try to avoid resorting to evasion tactics like requesting supporting documents that were never in the picture from the start. This is crucial in building trust.” Owolabi believes that once you can create the trust connection with customers, they simply keep coming back.
The company has consistently been paying 15 percent premium cashback bonus to clients who do not have a claim after insuring for 24 months in a row. Uti explains that this is yet another way the company endeavors to talk straight and walk the talk. “We don’t offer the 15% bonus as a renewal discount; we don’t insist you have to stay. We simply write you a check or transfer the cash direct to your bank account – there is zero obligations”, she adds emphatically.
In the first half of 2019 alone, the company has paid cashback bonus of N3m to nearly 100 customers.
The Allianz Group is one of the world’s leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from Property, Life and Health insurance to Assistance services to Credit insurance and Global Business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers – while their asset managers PIMCO and Allianz Global Investors – manage an additional 1.4 trillion euros of third-party assets. Thanks to a systematic integration of ecological and social criteria in their business processes and investment decisions, the Allianz Group holds the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 70 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the Group.
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