“We have more to do!” is the bold statement made by Insurance market leaders, Sagicor Life Jamaica Limited (SLJ) in the release to the Jamaica Stock Exchange on their financial year end results. Sagicor reported a 6% increase in net profits over prior year to $4.7 Billion and a growth of over 5% in assets to $143 Billion. Yet the main focus of the release was on improving Customer Service.
In a joint statement, Mr. Richard Byles, President and CEO of SLJ and The Hon R. Danny Williams, Chairman, noted several new initiatives that will significantly impact service quality levels in 2011. Mr. Byles explained “We understand the vital importance of customer satisfaction and loyalty and charged our Team with creating an environment where the customer feels well served. Out of this, we developed a model for a world-class Contact Centre, which was rolled out late 2010.” This new Contact Centre is expected to improve call handling rates to 98%, with an additional target of 80% of all calls answered resulting in immediate service. “It’s not good enough for us to simply answer the calls, we are challenging the team to meet our clients’ information needs on the first call,” Byles said.
In addition to the contact centre, Sagicor is looking to convert more of it’s health care providers and clients to electronic funds transfer for claim settlement, via the new Sagicor Direct service. “To serve our customers best, we are promoting the technology already available to our providers and clients. By using Sagicor Direct, our providers and clients will get faster access to funds," said Byles. He further noted that by using this service, the turnaround time for health claims will be cut in half, from 10 days to 5 days.
Another key area of focus for SLJ is to give clients more options for payment, access to information, and communication through electronic means. "We aim to have more of our clients served at their own convenience, either through web portals where they can access information on policies, claims and pension benefits or by way of the contact centre,” said Byles. He also noted that greater emphasis will be placed on electronic notifications, using both SMS messaging and emails to alert clients to changes in their policy status. "Improved service levels is hinged on improved communication. We want to hear from our customers, whether they had a good experience, a bad experience or a suggestion for us. Feedback is very important to us and we have opened an additional channel for our customers to share, using MyExperience@sagicor.com , a new email address which I will personally monitor."
In 2010 SLJ delivered over $8.5 billion of benefits to customers, including $1.8 billion in death and critical illness benefits, $4.4 billion in health benefits and $1.3 billion in annuity payments.