PIC re-awarded Institute of Customer Service's ServiceMark with Distinction for “delivering first class customer service”

London, 23 February 2021 – Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension funds, has been re-awarded the Institute of Customer Service’s (“the Institute”) ServiceMark Accreditation with Distinction and is one of only 16 companies in the country with this accolade. The ServiceMark is a national standard, which recognises achievement in customer service combined with a commitment to upholding those standards, and “Distinction” is the highest level attainable.

The Institute assessed PIC’s customer service offering, which included surveying PIC policyholders and employees, during the summer and autumn of 2020. The results showed that PIC’s policyholders view the company as performing extremely well across the Institute’s Five Customer Service Dimensions, particularly in regard to overall experience, emotional connection, ethics and customer ethos. PIC was first awarded ServiceMark with Distinction in 2017. The Award typically runs for a time-limited three-year period. 

The Institute noted, in its ServiceMark Assessment Report, that:

• “Excellence in customer service and balanced stakeholder relationships are fundamental to [PIC’s] approach…” 
• “The ongoing commitment to delivering first class customer experience was evident again…”
• “The focus, dedication and passion for delivering great customer service has only increased since the last accreditation three years ago…”
• “This is clearly driven from the top and not only expected, but consistently championed and demonstrated by the members of the senior leadership team…”
• “[PIC] has a great reputation for service, as evidenced in consistently high customer satisfaction scores and plenty of positive feedback…”
• “There is a strong focus on getting it right first time, and that includes removing the need for customers to contact PIC in the first place…”
• “Policyholder events that were very popular…seem to have become even better attended during virtual delivery…”
• “The employees I met were all very friendly, helpful and an absolute pleasure to talk to…”

Jo Causon, CEO of the Institute of Customer Service, said: “Having achieved ServiceMark with Distinction, PIC has shown that it is committed to improving its customer service offering and customer outcomes. I am delighted they have had such strong, positive feedback highlighted through their assessment, and that they have retained their accreditation at distinction level. 

“This achievement shows that PIC’s strong ethos of serving their customers is the reason that they continue to demonstrate leadership in this area. Throughout the assessment process, we have been continually impressed with the lengths they go to in order to ensure excellence in customer service.”

Tracy Blackwell, CEO of Pension Insurance Corporation, said: “I and PIC’s management and employees are proud to have been re-awarded ServiceMark with Distinction, not least as the assessment was carried out in the depths of a global pandemic and national lockdown.

“PIC has a clear focus on our purpose, paying the pensions of our current and future policyholders, and excellence in customer service is fundamental to this approach. I am delighted that this has been recognised in the Institute’s feedback. I also want to thank Capita, as our long-term administration partner, for their support in delivering PIC’s customer service vision. Working in partnership with them has helped PIC to continually improve customer service, and to retain this important award.”

- Ends -

Notes to Editors:

1)    The Institute’s ServiceMark with Distinction is currently held by only 16 organisations in the country, out of a total Institute membership of c.400

2)    The Institute’s Model is based on the premise that world class service relies on a customer-focused strategy leading to:

1. a customer-centred culture
2. effective people performance
3. effective technology and processes

For further information please contact:

Pension Insurance Corporation     

Jeremy Apfel                         
+44 (0)20 7105 2140 
apfel@pensioncorporation.com

About Pension Insurance Corporation

The purpose of Pension Insurance Corporation (“PIC”) plc is to pay the pensions of its current and future policyholders. PIC provides secure and stable retirement incomes through leading customer service, comprehensive risk management and excellence in asset and liability management. At half-year 2020, PIC had insured 237,600 pension scheme members and had £47.7 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of U.K. defined benefit pension schemes. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visitwww.pensioncorporation.com