News: Customer Service/Care
Poor customer service poll an 'eye-opener' for financial services industry
08 July 2008
Financial services providers are reportedly compromising on customer care skills, suggesting a need for tailored training provision.
According to a new YouGov survey commissioned by financial services firm The Hartford, two in five British adults switch provider because of poor customer service.
In addition to the 38 per cent of people polled who admitted they would stop doing business with a financial firm as a consequence of poor service, just over three quarters (76 per cent) revealed that good customer relations are key criteria when choosing a provider.
"The survey results clearly show that customer service has become a key differentiator in the financial services industry," Alistair Murray, The Hartford's director of customer service, remarked to IFAonline.
He continued: "The fact that two out of five people have ended relationships with financial services firms because of poor service is a real eye-opener for the industry and will no doubt prompt a number of providers to review their current customer service capabilities."
Around 19 per cent of the 2,000 respondents to the survey told YouGov they would rate financial services providers they have used in the past as 'good' or 'very good' at supplying customer care.
