The research was conducted by the South African Customer Satisfaction Index (SA-csi). Run by research firm Consulta, the SA-csi aims to offer impartial insights into the South African short-term insurance industry.
The index does this by blending a Customer Expectations Index, a Perceived Quality Index and a Perceived Value Index to achieve an overall result out of 100. Customers gave the short-term insurance industry an average satisfaction score of 76.7 out of 100. Virseker scored 80.7.
"The South African insurance market is dominated by a few large organisations. These large organisations enjoy the benefit of a structured economy, large barriers of entry and dominance over commoditised products and services," says Professor Adré Schreuder, CEO of Consulta and founder and chair of SA-csi.
"In tackling the dominance of these established players, Virseker is leading the way by identifying a very particular customer need, focusing operations and resources on this need and thereby claiming a dominant position for this particular niche market," Schreuder adds.
"By executing this strategy flawlessly, Virseker is achieving the kind of customer satisfaction ratings we see in the SA-csi. This differentiated stronghold puts Virseker in a strong position to grow and expand," says Schreuder.
"This accolade is an incredible validation that we are on the right track in terms of the customer experience we offer, and the products and value we provide," says Ricardo Coetzee, head of Virseker.
"We would like to thank our valued customers for their feedback in the SA-csi research and for voting us as number one for the second year running," Coetzee concludes.
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