DALBAR Announces Its 2013 Annuity Service Award Winners in Financial Services

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Boston, MA, Dec. 4, 2013 (GLOBE NEWSWIRE) -- Today DALBAR released the 2013 winners of its annual Annuity Service Award. AXA Equitable Equi-Vest, Genworth, New York Life Insurance TPD Services, New York Life Insurance Variable Products Service Center, Pacific Life, Prudential Financial and SunAmerica Retirement Income Solutions emerged as the leaders in customer service in 2013.

For over two decades, DALBAR has conducted rigorous testing of service delivery and, each year identifies those annuity firms that were found to be above their peers in service to clients after a full year of comprehensive evaluation.

Important service attributes that dramatically and clearly differentiate these firms from the industry at large include:

  • Making it a business priority to not only deliver exceptional service but to turn customers into advocates by adding value to each call that transcends the initial request. This was found in more than 80% of the service experiences evaluated, compared to the industry average of 65%.
  • Consistency in delivering service at a superior level. This award was first introduced 16 years ago and New York Life Insurance has earned it 14 times, Pacific Life and Prudential Financial, 13 times, AXA Equitable Equi-Vest, 9 times, SunAmerica Retirement Income Solutions, 7 times and Genworth has earned it 5 times.

"In this day and age, servicing your clients is not enough. Not only do companies have to service them with empathy, understanding and knowledge, but furthermore they must deliver a "wow" experience to truly differentiate themselves - as these award winning firms have demonstrated" said Kathleen Whalen, Managing Director at DALBAR.

The award is based on systematic testing of customer service throughout the year. DALBAR conducts thousands of tests to measure how financial companies respond to the need for service from their customers. Companies that exceed a variety of industry benchmarks after one year of testing earn the DALBAR Annuity Service Award.

DALBAR, Inc. is the financial community's leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of insurance companies, investment companies, registered investment advisers, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

CONTACT: Kathleen Whalen 617.723.6400 KWhalen@DALBAR.com

Source:DALBAR, Inc.