About Us
Trustees
Policyholders
Purposeful investments
Investors
New & insight
PIC, a specialist insurer of defined benefit pension funds, has been re-awarded ServiceMark Accreditation with Distinction from The Institute of Customer Service ('The Institute').
ServiceMark is a national standard, independently recognising an organisation’s achievement in customer service and its commitment to upholding those standards.
The Institute’s re-accreditation is based on PIC’s ongoing commitment to doing the right thing for policyholders, trustees, employees, and all stakeholders, as well as its long-term focus on delivering good and fair customer outcomes.
PIC has been developing and monitoring its customer service levels with the Institute for almost a decade, initially attaining the Institute’s ServiceMark in 2015, and was awarded the ServiceMark with Distinction in 2017 – the first financial services company to achieve this, and one of only 23 companies in the country to hold it.
PIC’s scores in its Business Benchmarking survey, undertaken by The Institute, were of significant note, achieving a Customer Effort score of 2.9 out of 10 (measuring how easy we are to do business with – the lower the score the easier it is) and a UK Customer Satisfaction Index (UKCSI) survey score of 87.1 out of 100 – placing us amongst the top performing customer service providers in the country. PIC were also successful at this year’s UK Customer Satisfaction Awards, winning the Institute’s Trusted Quality Service Provider of the Year award (March 2024).
Andy Rose, Head of Pension Services at PIC, said: “We are delighted that the Institute has awarded PIC the ServiceMark with Distinction for a further three years. We recognise the responsibility we have in looking after our policyholders, and we will continue to ensure they remain at the very core of our company culture and values, as they sit at the heart of our purpose.
“It is essential that we remain flexible and innovative as we continue to grow as a business and our partnership with the Institute underpins that. The Institute sets the standards for customer service in the UK and we value their expertise and support to help us continue delivering exceptional service for our customers for the long term.”
Jo Causon, CEO of the Institute of Customer Service, said: “As the independent standard in customer service excellence recognition, it is always great for us to see organisations achieving ServiceMark Re-Accreditation with Distinction, indicating commitment to a long-term service strategy. I want to congratulate the team at PIC, who have displayed a commitment to delivering world class customer service, driven by a clear focus on the purpose of the organisation.
“As noted in their assessment, the team have shown a strong level of empathy and understanding towards customers. I am excited to see where they go next in their service journey.”
- ends -
Notes to Editors:
For further information please contact:
Pension Insurance Corporation
Clive Booth
+44 (0)7780 599247
boothc@pensioncorporation.com
Apella Advisors
Arne Wyse
+44(0)7818 497469
PIC@apellaadvisors.com
About PIC
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. At year end 2023, PIC had insured 339,900 pension scheme members and had £46.8 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension schemes. PIC has made total pension payments of £13.6 billion to its policyholders and has invested £13 billion in the UK economy, creating considerable social value. 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 visit www.pensioncorporation.com
