Page 2: Customer focus
As the financial services market has evolved, customers have become increasingly sophisticated in their purchasing decisions and are more knowledgeable about financial products than ever before. Most newspapers, for example, have personal finance sections offering advice and guidance. As a result, customers have become selective in their choice of provider and will readily switch providers if they are unhappy with the service they receive. Financial service providers have recognised this change and have responded by becoming even more customer orientated.
Whilst CIS has always been close to its customers through face-to-face contact, it is continually looking at new ways of improving levels of customer service. A primary example is its investment in the latest computer technology to improve the service it offers in customers’ homes. Many agents now use state-of-the-art laptops which enable them to better analyse and understand their customers’ needs. The laptops also help customers get a clear understanding of what they can expect from a CIS product so that, in turn, they can make a more informed investment decision. For example, the computers can be used to illustrate how an investment product has performed over a given period for a given premium rate. They also allow agents to record customer information while in the customer’s home, greatly reducing the paperwork involved. And, because the laptops are to be electronically linked to the mainframe system at CIS chief office, the whole administrative process is becoming streamlined, so that customers receive a more efficient service.