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LV= voted best insurer for customer satisfaction

Press release: 22/07/2014

LV= has been voted the best insurer for customer satisfaction, according to the 2014 UK Institute of Customer Service Customer Satisfaction Index (UKCSI) [1].

In the UKCSI survey, involving around 10,000 consumers from across the UK, LV= received the highest customer satisfaction score for an insurer with a score of 83.0 out of 100, compared with the average score of 77.6.

The online survey asks consumers to choose a company and rate it based on a number of factors. It shows that LV= is the most trusted insurer and the one that consumers think is the easiest to do business with. LV= also received high scores for helpfulness of staff, and how easy it is to find things on its website.

Overall, the UKCSI survey shows that LV= is now ranked 14th for customer satisfaction out of more than 200 organisations across a wide range of sectors.

Our approach to customer satisfaction is actually quite simple - we believe that if we provide consistently fair premiums and great service, the rest will take care of itself. Naturally, we’re delighted with the results of the UKCSI survey as they confirm the high level of trust we have earned with our customers and explain why we are now the UK’s most recommended insurer.

John O’Roarke, Managing Director of LV= General Insurance

I would like to congratulate LV= on its achievements in the 2014 UKCSI. In this ever changing environment, organisations must invest in customer insight and apply it with agility. In a sector like insurance this is even more important as the research also indicates that those who score higher for satisfaction are more trusted by their customers. This underlines the importance of customer service in building and sustaining trust and reputation; further demonstrating the importance of a long term focus on customer service to enable sustainable business performance.

Jo Causon, CEO of the Institute of Customer Service

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[1] UK Customer Satisfaction Index July 2014. UK Customer Satisfaction Index, commissioned by the Institute of Customer Service, takes its results from more than 40,000 individual customer experiences. It is the UK’s largest and most comprehensive survey of customer satisfaction and the only one carried out by a not-for-profit organisation.

For further information please contact:

Vanessa Chance

About LV=

LV= employs 5,800 people and serves over 5.5 million customers with a range of financial products. We are the UK’s largest friendly society and a leading financial mutual.

When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.

We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and a range of trade unions.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.