(Boston, MA December 19, 2011) – DALBAR announced today the 2011 winners of its annual Life Insurance Service Award. Genworth Financial was the only firm in the life insurance industry to emerge as a leader in customer service in 2011. For over two decades, DALBAR has conducted rigorous testing of service delivery and each year identifies those life insurance firms that were found to be above their peers in service to clients after a full year of rigorous testing.
Important service attributes that dramatically and clearly differentiate Genworth Financial from the industry at large include: ? When Genworth call center representatives initially engage callers, they warmly and politely greet them and establish an immediate appreciation for their business more than 95% of the time. This compares to an industry average of 58%.
?Genworth representatives understand the critical nature of listening, understanding and responding with options that are available based on each client’s needs and sense of urgency. Genworth representatives demonstrate this ability more than 95% of the time as compared to the industry average of 67%.
“In today’s fiercely competitive financial services industry, service excellence helps differentiate Genworth for those who buy and sell their products,� said Kathleen Whalen, Managing Director at DALBAR.
The Life Insurance Service Award is based on systematic testing of customer service throughout the year. DALBAR conducts thousands of tests to measure how financial companies respond to the need for service from their customers. Companies that exceed a variety of industry benchmarks after one year of testing earn the DALBAR Service Award.
DALBAR, Inc., the nation’s leading financial services market research and consulting firm, is committed to raising the standards of excellence in the financial services industry. With offices in both the US and Canada, DALBAR develops standards for, and provides research, ratings, and rankings of intangible factors to the mutual fund, broker/dealer, life insurance, property and casualty, and managed account industries. Measurements include investor behavior, customer satisfaction, service quality, communications, Internet services, and financial professional ratings.
About DALBAR, Inc.
As the world’s premier financial services strategy and operations research firm, DALBAR, INC. helps leading enterprises develop, build, and operate strong businesses that deliver sustained shareholder value growth. DALBAR’s proprietary business design techniques, combined with its specialized industry knowledge and behavioural research expertise, enable companies to anticipate changes in customer priorities and the competitive environment, and then design their businesses and improve operations to seize opportunities created by those changes. The firm serves clients in the Americas and Europe. www.dalbar.com.