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Africans are most satisfied with the customer service provided in the
insurance sector by Santam [JSE:SNT] and Sanlam [JSE:SLM], the South African consumer satisfaction index (Sacsi)
announced on Thursday.
Both companies emerged as industry leaders, with Santam rated as the top short-term insurer while Sanlam took the winning spot for life insurance.
Sacsi is a national economic indicator of customer satisfaction with the quality of products and services available to household consumers in South Africa.
It released its second set of customer satisfaction scores and named the most favoured products and services as rated by customers.
The survey covered short-term insurance, life insurance, mobile retail and gaming.
Short-term insurance
Short-term insurance selected by market share and measured by Sacsi include Santam and Mutual & Federal, Auto & General, Hollard and Outsurance.
Santam and Mutual & Federal were rated as industry leaders by South Africa’s short-term insurance customers.
Customers gave the short-term insurance industry an average satisfaction score of 77.5 out of 100, against which Santam scored 3.6% higher and Mutual & Federal scored 3.0% higher.
Life insurance
Life insurance companies measured according to the customer satisfaction index include Sanlam Life, Discovery Life, Liberty Life, Momentum and Old Mutual.
South African life insurance customers gave the life insurance industry a customer satisfaction score of 77.1 out of 100 on the South African Customer Satisfaction Index.
Sanlam was rated as the industry leader, with a score 2.9% higher than the industry average.
“As industry leader, Sanlam Life enjoys a position amongst the top five best scoring life insurance companies in the world,” said Sacsi founder and CEO Professor Adré Schreuder.
