CLIENTÈLE
CLIENTÈLE
SA’s Most Reliable & Valued
Financial Services Partner PRODUCTION: Karl Pietersen
Leading SA insurance business, Clientèle, is continuing to deliver for its customers, offering the best products and service in the industry. Its growth strategy includes new products and improved service, and its core principle of Treating Customers Well remains at the heart of everything it does. 2 / www.enterprise-africa.net
INDUSTRY FOCUS: INSURANCE
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Back in April 2017, Enterprise Africa spoke to one of South Africa’s biggest life insurance providers, Clientèle, about the company’s remarkable ongoing success in a competitive industry and challenging economic climate. The award-winning company was reaping the rewards of focusing on quality service, and was picking up new clients thanks to a driven sales operation and a clever marketing strategy. As the first insurance company in South Africa to utilise a multimedia strategy, including a telesales department and television advertising with recognised SA personalities, the company boomed and is now widely regarded as an industry leader. When speaking to us in 2017, Clientèle’s Group Managing Director
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// AS OUR NAME IMPLIES, WE ARE NOTHING WITHOUT OUR VALUED CLIENTS // Basil Reekie said that “2016 was tough for the industry, however, we have been performing well over the last few years and have no doubt that we will continue to do so into the future.” Fortunately, the positivity has continued for Clientèle and the company is continuing to aggressively target growth. The recently published Condensed Preliminary Group Results for the year ended 30 June 2018 detailed, net insurance premiums increasing by 11% to R2.1 billion, value of new business of R448 million, and return on average shareholders’ interest of 48%. While Clientèle labels these figures
only ‘acceptable’, it is clear that a very turbulent economic situation has impacted on the growth of all major companies and continuation of positive performance is an achievement. How has the company managed to continue on such a pleasing journey? By investing in exciting new initiatives that will prove beneficial to customers. SWITCH2 The perfect example of this came at the end of 2017 when Clientèle announced the acquisition of Switch2, an innovative credit life company that focuses on providing South African consumers with a wide range of credit life cover at a
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fraction of the cost, compared to that of competing insurers. Established in October 2016, based in Belville between Cape Town and Stellenbosch, Switch2 has been growing steadily. After the NCA (National Credit Act) capped charges on new hire purchase or loan agreements to R4.50 per R1000, customers quickly began to realise savings. Clientèle describes Switch2 as a company “in their infancy and management will monitor their progress closely.” “When consumers realise how much they can save, they are really keen to switch,” said Sasha Knott, CEO of Switch2. “We have a really active call centre, but we realised that we needed further investment into the business in order to grow and take our business to the next level.”
The nature of Switch2 and the culture that exists was perfect for Clientèle, with a strict focus on quality product and first-class customer service. “We are excited to welcome Switch2 to our stable,” said Iain Hume, Group Financial Director at Clientèle. “We are always looking for ways to broaden our services to the consumer, and credit life is one of the areas we want to expand, so Switch2 is a natural fit.” ESTATE PRESERVATION PLAN In March, Clientèle launched one of its newest products, the Clientèle Estate Preservation Plan. This move came in response to market demands after it became apparent that winding up an Estate or transferring an Estate, as per wishes of a Will, is becoming increasingly difficult in South Africa. Clientèle is already big in funeral,
hospital and life cover and provides a range of highly competitive products in each of those spheres. According to stats from FISA (Fiduciary Institute South Africa), only an estimated 23% of Estates have Wills and 70% of Estates suffer liquidity constraints that impact the timeous and effective winding up. These stats spurred the development of the Clientèle Estate Preservation Plan which reduces the risks for your heirs when your estate is being wound up. The cover includes benefits related to immediate cash needs, administrative costs, executor’s fees and minor debtors, as well as financial assistance to cover monthly expenses. Basil Reekie said Clientèle was extremely proud of the product. “A tremendous amount of work has gone into preparing this ground-breaking
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INDUSTRY FOCUS: INSURANCE
product. This is a new market for us and we are very excited about it. Intermediary Brokers are going to be a new key stakeholder for us and we look forward to forging strong relationships with them. Safeguarding our clients’ world with compassion will remain our top priority and the Estate Preservation Plan truly embodies this.” Bart Wouters, Head of Distribution, Estate Division, Clientèle Life said: “The Estate Preservation Plan is a unique offering which provides a vital link between the Client, Fiduciary Specialists and Financial Advisors, as all parties involved are aligned in terms of their interests. This plan, combined with a first to
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market online underwriting capability, is dedicated to assisting Financial Advisors. Meaning that Clientèle Life is well positioned to enhance the value proposition to clients.” SERVICE, ABOVE ALL Clientèle lives by a vision of being ‘South Africa’s most reliable and valued financial services partner’, and this is of course unachievable without an unwavering dedication towards effective communication and customer service. The work that Clientèle puts into this was commended in June when the Long-Term Insurance Ombudsman announced that the company was
among the highest ranking when it comes to complaint resolution. While no company likes to admit that it receives complaints, it is a cold fact of business that at some point it will happen, and that is when the best are sorted from the rest. Poor complaint handling can result in damage to reputation and alienation of customers while positive responses can drive customer loyalty and act as excellent marketing tools. In the financial services industry, where products are intangible, it really is service that separates industry leaders from the pack. Clientèle sticks to a very clear mantra of Treating Customers Well (TCW), and 84.3% of the company’s decisions were
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Basil Reekie - Clientele Group Managing Director
// WE HAVE BEEN WORKING VERY HARD TO ENSURE CLIENT SATISFACTION AT EVERY POINT IN THE CLIENT EXPERIENCE FROM THE MOMENT THAT A POLICY IS SOLD UNTIL THE CLIENT CLAIMS AND BEYOND // upheld by the Ombud in 2017, which is the second highest amongst all major long-term insurers. “As our name implies, we are nothing without our valued clients. Thank you for allowing us to safeguard your world with compassion. Our quest to improve our service will never end,” said Reekie.
Henry Dladla, Clientèle Client Services Executive, added: “We have been working very hard to ensure client satisfaction at every point in the client experience from the moment that a policy is sold until the client claims and beyond. The success that we have achieved in handling queries is the result of the combined efforts of multiple
teams in Clientèle and a corporate culture that strongly emphasises customer service. Our clients have multiple channels to escalate any queries and this ensures that we make the best possible decision.” Clientèle promises to ‘safeguard your world with compassion’, and despite challenging economic conditions and a short-term future that remains unclear for South Africa, this is a company that has always, and will always, stick to its principles and put its clients first – truly an example to follow for all in the industry.
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