The Customer Impact Scheme

In February 2006, we were the first company to sign up to the ABI’s new Customer Impact Scheme. Commenting on the launch of the scheme, Robin Phipps, Group Executive Director (UK) said, “I believe the Customer Impact Scheme will make a real difference to customers. The fact that the boards of companies like ours are making a formal commitment to putting customers at the core of our business is really powerful.” (Press Release)

The Scheme comprises three elements:

• A formal board commitment by the participating companies to place customer interests at the heart of how they run their business
• A Customer Impact survey which provides an extensive and unbiased measure of how well customers believe they are being treated by the pensions, protection and investments industry
• A series of Good Practice Guides outlining how companies can improve customer experiences.

As part of the Customer Impact Scheme, our Group has signed up to three key commitments to ensure that the needs of the customer are at the core of the way we run our business:

• Developing and promoting products and services which meet the needs of customers
• Providing customers with clear information and good service when they buy products
• Maintaining appropriate and effective relationships with customers, providing them with a good service after they have bought a product.

Customer Strategy Director, Caroline Fawcett, is the chair of the ABI’s Customer Impact Survey Group which is responsible for developing and coordinating customer research on the progress of companies against these three commitments.

As part of our commitment to the Customer Impact Scheme, during the second quarter of 2007, we will be publishing our first Customer Experience report which will give details of our progress in improving customers’ experiences.