1Life has been hailed as a leading life insurer with regards to customer satisfaction – with a score of 85.8/100, based on recent market research1 undertaken. Furthermore, based on annual research conducted by Swiss Re, the brand has once again maintained its position with the biggest market share by new business sold, year-on-year in the direct life insurance industry – a positon they have held every year since 20102.
“Treating customers fairly and creating life changing impact through our products and solutions is at the heart of what we do – it is about making sure that we offer simple and affordable solutions that positively impact client’s lives when they need it most and we believe that these accolades are certainly a testament to our ability to delivery just this,” says Laurence Hillman, MD for 1Life.
Customer satisfaction is only one of the top results the brand achieved through the research where they have been placed 7th out of 12 of South Africa’s best brands – alongside only one of their competitors. Furthermore, they have achieved a top 10% score out of more than 120 South African brands and currently lead the expectation vs. perception gap within the local market.
“To break through the clutter in a market such as ours you need to be innovative, willing to adapt and continuously improve to meet changing consumer demands,” says Hillman.
The research also indicates that 1Life witnessed the highest perceived value scoring based on price vs. quality.
“We have had to break the mould, year-on-year, making the underwriting process a less complicated one to really drive ease of uptake and consumer confidence that they will get their money’s worth – and I am very proud that over the past year we have again succeeded to do so,” continues Hillman.
Last year 1Life reported that the business had a 90% compliments rate on Hello Peter, compared to the industry’s 41% average and this year is no different. In fact, the brand has been recognised as having the lowest complaints index, with the second highest complaints handling score.
”It is results such as these that drive our business to do more, each and every day – placing customers at the centre of our operations and finding solutions that are tailored to meet the financial needs of each individual, that are underpinned by solid customer service and steady response times,” states Hillman.
“Treating customers fairly in every aspect is critical to us as a business and the above results, as well as the fact that we were placed 2nd in the industry for this area of focus, makes us a very proud business. We look forward to the remainder of the year and believe that we will continue to deliver solid solutions within the long-term insurance space – ones that are customer centric at every touch point,” concludes Hillman.
1 SAcsi Consumer Research Report 2016
2 Statistics Based on Swiss Re Individual Risk Market Business Volumes Survey Reports 2010-2015 (2015 report released in 2016)
* 1Life Insurance Ltd is an authorised financial services provider (FSP 24769)
About 1Life: 1Life, owned by Telesure Investment Holdings, is a registered Financial Services Provider. Launched in March 2006, the company provides long-term insurance solutions with products that are simple, convenient and tailored to every client’s individual needs and affordability. 1Life believe that financial solutions should change lives, not just the situation that clients find themselves in, and they have made Changing Lives the cornerstone of their business ethic. They pride themselves on being South Africa’s first truly direct life insurer and offer obligation-free advice to provide the right cover according to an individual’s needs and life stage, and are able to adjust this cover as significant life changes take place. 1Life is reinsured by Hannover Re and is committed to Black Economic Empowerment.
