MAPFRE MSV Life p.l.c. (MMSV) has launched an updated version of its Treating Customers Fairly Charter.
The charter outlines MMSV’s key commitments when dealing with its customers as well a number of service level commitments. The charter also explains how MMSV deals with customer privacy, proposal and application forms, claims and complaints.
Insurance Regulators in Europe are encouraging insurance companies to take steps to make the fair treatment of customers central to their behaviour.
David G. Curmi, CEO of MMSV, stated, “we fully embrace the principles of treating customers fairly. The practice is central to our philosophy. We are in the business of helping people have happy and secure futures and we therefore need to earn the lifetime loyalty of our customers. Our average customer relationship is between 15 and 20 years, we would not be able to achieve that if we did not provide an exceptional level of service to our over 80,000 customers. We want to ensure that all our existing and future customers know in advance where they stand when they do business with our company and the level of service they should expect from us.”
Curmi added, “our charter will ensure tangible improved outcomes to all our consumers. In our charter, we undertake to provide value for money protection, savings, investment and retirement solutions that meet the needs of our customers and to provide high standards of service in order that we may be in a position to deliver a positive experience throughout a customer’s relationship with us. Suffice to mention that we are now in a position to issue 60% of policies on the same day that the proposal from or application is received by us whilst we will be aiming to deliver all other service commitments within 5 working days.”
Curmi concluded, “we are reaping the benefits of our continuous investment in the latest technology in our business and in the implementation of digital solutions. Going forward, we will maintain strong focus on our customers by regularly assessing and reviewing our business processes and operations in order to uplift our service to our customers. Our strength in the market derives not only from our strong financial credentials but also from the very responsible manner in which we manage and conduct our business. Likewise, our success and reputation depends not only on our products and service, but also on being an honest, trustworthy, ethical and dependable insurance company. Our new Treating Customers Fairly Charter is an attestation that we are strongly committed to treating its customers fairly in all aspects of our business.”
A copy of the MMSV Treating Customers Fairly Charter can be downloaded from the MMSV website here.
This content was supplied by MAPFRE MSV Life p.l.c.