We strive to create exceptional customer experiences by always acting in the customers’ best interests. To do this, it is important that we understand their needs and respond to them in a way which builds loyalty and helps our business to grow. Our relationship with our customers is continually monitored across our businesses.
UK financial services
We remain committed to building strong customer and adviser relationships. We consider this to be the keystone of our drive to provide all customers with exceptional experiences when dealing with Standard Life. Our relationship with our customers is continually monitored and our constant focus on these areas of business has been recognised during the year with these awards:
Life and pensions
- People’s Choice Award from Pensions Management Administration and Service Awards
- Money Marketing Awards:
- – Company of the Year (ninth consecutive year)
- – Best Pension Provider (fifth consecutive year)
- Financial Adviser Life & Pensions Awards:
- – Best Group Pensions Provider
- – Best SIPP and/or Small Self Administered Pension Scheme Provider of the Year (third consecutive year)
- – Best Income Drawdown Provider (second consecutive year)
- – Best Alternatively Secured Pension Provider (second consecutive year)
- Financial Adviser Service Awards:
- – Life and Pensions Provider 5-Star Award (13th consecutive year)
- – Special Outstanding Achievement Award in recognition of winning the 5-Star Award for 13 consecutive years
- People’s Choice Award for the company with the best technology, administration and service in our industry from Pensions Management Administration and Service Awards (second consecutive year)
- Life Assurance Company of the Year and Multi-Asset Manager of the Year for 2008 from Professional Pensions – UK Pension Awards
Banking
- 5-Star Award in the Mortgage Providers and Packagers category at the FTAdviser Online Services Awards
Healthcare
- Gold Standard Award at the Gold Standard Awards (sixth consecutive year)
Canada
High quality customer service is the basis of our growth strategy, which focuses on high retention and strong customer relationships. Our client retention level, based on internal methodology, was 94.6% in 2008 (2007: 95.7%). We continually invest in technology, training and processes as part of our efforts to meet the service expectations of our customers. In addition, we have enhanced web-based functionality across our group lines to ease administration of our products from both the sponsor’s and participant’s perspective.
A survey is carried out at least once a year with Group Insurance plan members being asked if they would recommend Standard Life services to others. In November 2008, this was 97% (January 2008: 97%). In Group Savings and Retirement, plan sponsors are asked once a year to grade the company on how likely they would be to recommend us to others; based on the Net Promoter® score methodology. The number of responses in the top 20% categories exceeded those in the bottom 60% categories by a margin of 24% (2007: 16%).
Standard Life Investments
Our business remains underpinned by our strong longer term investment performance, delivered through the rigorous application of our ‘focus on change’ investment philosophy, and by our continuing commitment to very high levels of client service. High quality support by our client service teams, combined with strong investment performance from our fund management teams, has been recognised with a record 15 awards in 2008, including:
- Multi-Asset Manager of the Year at the Professional Pensions UK Pension Awards 2008
- 5-Star Award in the Investment category at the FTAdviser Online Service Awards
- Best Overall Group Lipper Award in the Non UK Equity Large category at the Lipper Fund Awards 2008
- Standard Life Investments’ UK Smaller Companies Fund won the UK Smaller Companies category at the Investment Week Awards 2008
- Harry Nimmo, backed by his award-winning UK Smaller Companies team, was ranked Citywire’s Number One Fund Manager of the Year 2008
- Best Private Equity Trust award won by Standard Life European Private Equity Trust fund at the Money Observer Investment Trust Awards 2008
- Gold ranking at the Ethical Investment Association (EIA) Transparency Awards
Back to top