Bankers Receives High Marks for Policyholder Satisfaction

In a recent customer opinion survey administered by the Life Office Management Association (LOMA), Bankers earned above-average ratings from long term policyholders (over two years) in the areas of customer loyalty and customer satisfaction. In addition, Bankers performance ratings were consistently in the "exceeds expectation" range, particularly in the area of customer service.

Overall survey results were positive. The leading driver of satisfaction was customer service, specifically service empathy and service reliability. Compared to the industry, Banker's long term policyholders are significantly more satisfied than policyholders of other insurance carriers. Ratings for new policyholders (less than two years) are comparable to the other carriers in LOMA's benchmark group.

LOMA conducted the customer opinion surveys of Bankers' new and long term policyholders by mail in January and February 2005. Bankers' response rates were substantially higher than LOMA's typical response rates, with 37% of long term and 34% of new policyholders responding (vs. LOMA's typical rate of 15-20%). These surveys were patterned after those conducted for companies that participated in LOMA's U.S. Individual FOCUS® Consortium.

The benchmark group consisted of 10 other leading companies which have recently administered these surveys, including AAA Life, Ameritas Life, Baltimore Life, Manulife Financial, Mutual of Omaha, Principal Financial, Standard Life, State Farm Life, Western Southern Life, and Zurich Life.

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