UK’s largest life insurer awarded Raising Standards Quality Mark Norwich Union is delighted to be one of the first companies to be accredited with the highly prestigious Raising Standards accolade – the new symbol of quality, clarity and service for the life insurance industry.
UK’s largest life insurer awarded Raising Standards Quality Mark
Norwich Union is delighted to be one of the first companies to be accredited with the highly prestigious Raising Standards accolade – the new symbol of quality, clarity and service for the life insurance industry.
The new scheme is designed to instil greater consumer confidence in the life insurance industry and deliver tangible benefits to consumers by ensuring that they have a better and clearer understanding of the products they are buying.
Greater clarity and comparability of information through:
- Simpler and clearer key features and illustrations
- Simpler and clearer post sale information
- More informative annual statements
Appropriateness of the products purchased through:
- Extending the cooling off period for most products to 30 days
- New layouts of product key features and illustrations to allow easier comparison of products
- A first class complaints handling procedure
Better service through:
- More contact information to allow customers to get in touch when and however it suits them
- A regular customer satisfaction survey to ensure service meets the benchmark for accreditation
Norwich Union has made a multi-million pound investment in order to attain Quality Mark accreditation. More than 20 information technology systems and 500 items of Norwich Union literature have been changed which gives an indication of the sheer scale of the project.
Norwich Union will complete the introduction of the new Raising Standards quality mark on literature by December 3 2001.
Peter Hales, sales and marketing director at Norwich Union said: “We are delighted to have been awarded the Raising Standards quality mark. The commitment and investment we have made to reach the high standards required have been considerable. We see this is a major step forward for the company, the industry and most importantly for the consumer”.
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Notes to Editors
- CGU plc and Norwich Union plc merged on 30 May 2000 to create CGNU plc, the UK’s largest insurance group and one of the top-five insurers in Europe with substantial positions in other markets around the world, making it the world’s sixth largest insurer based on gross worldwide premiums.
- CGNU’s principal business activities are long-term savings, fund management and general insurance, with worldwide premium income and retail investment sales from ongoing business of over Ł27 billion and assets under management of more than Ł200 billion as at June 30 2001.
- From October 2000, the combined life and pensions, general insurance and retail fund management businesses in the UK operate under the Norwich Union brand, while the institutional investment business operates under the Morley Fund Management brand.
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- A selection of images are available from the CGNU Newscast site at www.newscast.co.uk
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Press office contacts:
James Evans 08703 66 68 78 07790 487105
Louise Goffee 08703 66 68 70 07810 057362