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Survey Provides new Information Regarding Client Expectations

Posted on May 21, 2013 by Sergio Ulloa ()

After a recent survey of over 100 clients, some interesting results have shown where the main points of concern lie for patrons of Pacific Prime. This pursuit to identify the main decision forming factors for clients has undoubtedly helped contribute to Pacific Prime International's success. However, will this be sufficient enough to ensure a continued success looking ahead to the future, where the importance of social media is playing an increasingly important part in the online retail market?

Pacific Prime conducted the survey using the following questions: 

  1. How clear was the information given by your customer service representative?

  2. How knowledgeable was your representative on health insurance?

  3. What did you like most about the PPI service?

  4. How would you rate the overall service of Pacific Prime?

  5. How likely are you to recommend our company to others? 

In regard to question 1, a substantial 67% of clients stated the information given to them was "Extremely clear", followed by 33% claiming the information was "Very clear". Considering that only clients who have previously purchased policies were included in the survey, these statistics indicate that clients have a need to ensure that they are informed of all aspects of the policy before purchasing; proving that having the option to speak with a specific advisor about a client's specific case encourages trust in the product and the inevitable purchase. Unlike 'click and Buy' methods, where the focus is on the premium alone, Pacific Prime clients obviously prefer to know as much about their plan as possible before making a purchase. 

It is worth mentioning that this trend is common among expatriates living in areas where local government control over products such as insurance may not be in place, making it harder to have basic trust in a product. Today's expatriate is far more likely to make a full investigation into a plan and its relative insurer to assure the right product is chosen, as opposed to just focusing on premiums and expecting the best. 

Answers from the 2nd question asked on the survey indicated that 61% of clients rated their advisor as "extremely knowledgeable" and 39% offered a "very knowledgeable" rating. With no answers on the lower range of the spectrum chosen, this indicates the quality of advice given by advisors is appreciated by clients and again, that clients are focusing on ensuring their decision is an educated one. 

These results seem to defy an increasing trend for consumers in today's online market whereby choice of product appears to be based on what has been posted about it online, whether in product forums or via social media. Consumers only seem to be contacting actual service product providers to find out the cost or to make the purchase, rather than researching further about the product. Pacific Prime clients are proving that they prefer to steer away from this experience and are very pleased to take the time to speak with an industry professional to garner any product information they may need. 

It is undoubtedly the responsibility of the advisor to ensure their product knowledge is conveyed properly to the client and results from question three indicate just that. 46% of clients selected "Knowledge of Staff" as the most liked aspect of PPI's service, in second position was "speed" with 24%, followed by "products available" at 13%. The client's preference for being fully informed about a product over product cost was also reflected in the results as "price" came in last with just 7%. 

Results from questions 5 and 6 continue to prove that the priority of Pacific Prime clients lies in receiving good service and that they value this service. 72% and 56% of clients rated PPI's overall service as "excellent" and "extremely likely to recommend" respectively; with 26% and 35% rating "Very good" and "very likely to recommend" respectively. Finally, 2% selected "good" overall service and 7% chose "moderately likely to recommend". 

This prominence of clients claiming that service and product knowledge is the forefront of their concern shows great promise for Pacific Prime. However, with the relentless rise of social media and online 'click and Buy' websites, Pacific Prime must be cautious and ensure that they are able to meet the demand of a growing market expectation for on the spot procurement and instant purchasing gratification. 

All these results indicate positive responses to Pacific Prime's customer driven servicing standards. As customer expectations evolve with the online market however, Pacific Prime needs to ensure that their methods of comparison and portrayal of product knowledge remain attractive whilst still being able to meet the clients need to make an informed and properly assisted decision. 

Pacific Prime specialists will undoubtedly benefit from these results and will use them to create a stronger online social media presence whilst still maintaining a balance with their customer services so as to ensure long term success.
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