A few months back, we published a blog talking about the upcoming launch of our Net Promotor Score (NPS) program.
Companies that value customer service have been using different ways to monitor and gauge customer satisfaction for years. From surveys in emails, written forms and even point of sale data gathering on iPads at places like service stations!
One thing is a certainty, the success of most companies in the world depends very heavily on you – the customer. As consumers we all undertake a process when choosing purchases. We shop for a product, we see a brand, we research the product then we decide to hand over our hard earned money in the process. Depending on the product, you may get instant gratification by using it for its purpose. Interestingly with an insurance product, you truly hope never to use it and when you do you expect it to fulfil your expectations. These are all important touch-points from a customer perspective.
In April, we launched our NPS program to everyone who had ever bought a policy or had a claim with Club 4X4 since the first day we started trading. This was important to give us a baseline of our performance-to-date to compare with.
Specifically in the insurance space, most insurers will have a customer service survey or metric, with most also conducting an NPS. Literature on industry level performance is readily available online, but the most recent we found can be viewed here. It would seem that the mainstream players want to measure either only at a sales level, or roll up the entire experience, with claims and sales combined. In our opinion this may skew results and truthfully, it’s just not transparent enough. We will be measuring and reporting NPS result for Sales AND Claims separately.
So how does an NPS measurement work?
The opportunity to participate in the NPS survey is via an email you will receive once you take a policy out with us, or once your claim has been finalised. The first question in the email asks you to rank the likelihood of you recommending Club 4X4. The results fall into the following groups:
9-10 – Promoters
7-8 – Neutrals
0-6 – Detractors
So to get to the overall NPS score, you subtract the proportion of “Detractors” from the proportion of “Promoters” – it’s that simple.
So how did we go??
A whopping score of 88 for our inaugural NPS sales survey. 90.4 respondents were happy to promote the Club 4X4 brand and product. 7% scored in the “Neutral” category, but most importantly only 2.6% had real issues with us and stated that they would not recommend us to their friends. As little as that number is, we have spoken to those who requested to be contacted regarding their issues.
Our score from a claims perspective is slightly lower, coming in at 66. 77% of claimants were happy to recommend us, but 11.3% were unhappy with the service. As with sales survey, where a phone call has been requested, we’ve contacted the claimant to talk through the issues and identify future improvements.
We couldn’t be prouder of these results. To those who didn’t read the link we posted earlier, our results are significantly higher than the market. It’s difficult to think the record high in the mainstream market is a single digit figure!
So with a baseline figure of activity for the last 18 months of activity, we move onwards and upwards for the next 6 months.
Until next time, Happy Touring!