Financial Sector Research
ABI Customer Impact Study
The Association of British Insurers (ABI), which represents the majority of the UK’s life and pensions providers, conducts an annual study into customer views and experiences of the industry. Such is the importance placed on the study that firms representing around 85% of the industry participate.
The Customer Impact Survey is an initiative which strives to put customer needs at the heart of the industry. It provides comprehensive benchmarking data, with the aim of monitoring and subsequently improving industry performance as a whole. Individual companies also benefit from the detailed information produced, which include opinions and experiences, by being able to see and then act on customers' views.
Collecting and reporting benchmark data can prove difficult, but ORC International makes use of the latest web and data reporting technology to make the whole research process, from data collection survey support to results delivery, as efficient as possible.
- ORC International conducts data collection for all participating brands (over 30 brands and in excess of 20,000 CATI based consumer interviews over a 3 month fieldwork period)
- Individual automated presentations are produced for each brand, outlining their scores and benchmarking them against their peers and the industry as a whole
- A portal solution developed by ORC International’s team of e-Insight IT experts enables the ABI to monitor the progress of data collection for all brands taking part
- To bridge the gap between data analysis and visual presentation, an interactive data visualisation tool has also been developed, to allow easier interpretation of participating companies' data
This research shows that integrating traditional research methods, such as annual customer surveys, with the latest technology-based solutions can indeed bring many benefits. Undoubtedly, benchmarking is a key tool for improving organisational performance. Yet the exercise proves fruitless if companies cannot easily interpret and disseminate the data gathered, and act on it promptly. Managing benchmark data is most effective when supported by IT tools, which can significantly enhance the whole customer research process.
For further information, and to see the industry report published by the ABI, please click here.
For further information, please contact Marketing on 020 7675 1151 or e-mail website@orc.co.uk
