Source: Central Bank of the Russian Federation in English
At the first conference on ‘Customer-centric practices for long-term firm growth’, held by the Bank of Russia on 24 September 2019, insurance market participants discussed the methodologies for the assessment of customer satisfaction with the quality of service or financial products as well as main drivers behind these indicators. Representatives of 65 insurance companies took part in the discussion.
The conference was aimed at developing recommendations to improve customer experience and satisfaction with the quality of insurance services.
According to the regulator’s data, the index of customer satisfaction with services of various financial institutions shows that the share of the adult population that fully trust or somewhat trust insurance entities is 26.3%
Insurance companies’ representatives told conference participants that the firm’s capability to correctly assess its own customer centricity and identify drawbacks in their front-office operations is one of the critical competitive advantages that affect growth. The discussion covered such topics as net promoter score, its effectiveness and estimation methods, as well as the competitive advantage of customer centricity for digital companies.
‘The path to customer satisfaction begins with the corporate culture, and it is important for us to know what companies do to change their culture to make the understanding of customer value one of the key self assessment parameters of the financial institution’, said Mikhail Mamuta, Head of the Service for Consumer Protection and Financial Inclusion of the Bank of Russia.
Conference participants suggested that such forums be held on a regular basis.
25 September 2019