2020 was a tough year for everyone. In a short space of time, COVID-19 dramatically changed our lives and forced businesses to respond to a whole new operating environment. Suddenly, teams were working remotely, and businesses could no longer interact with customers as they had before.
NEOS rose to the challenge, and quickly and effectively adopted new ways of doing business. That’s why we’re so very proud to be voted No.1 in life insurance for the second year running in the 2020 Financial Advice Landscape benchmarking study.
Not only was our Net Promoter Score (NPS) of 55 head and shoulders above the scores of our competitors, it was also higher than the NPS score we received in 2019. The fact we were able to improve on an already outstanding NPS, despite the challenges presented by COVID-19, is an achievement we’re extremely proud of. It’s a testament to our outstanding team, our commitment to delivering the best experience possible and the resilience and adaptability of our business model.
To help put our NPS score into context, you need only look at the NPS scores of some of the world’s leading brands. According to Customer Guru, Apple, for example, has an NPS of 47, while Netflix has an NPS of 13, Nike’s is 0 and Facebook’s is -21! Our NPS clearly highlights the high regard advisers have for NEOS and the outstanding experience we deliver to advisers and their clients, each and every day.
These results also follow the 2020 AFA Life Company of the Year Awards where we won awards in three categories: Underwriting Team of the Year, BDM/Support Team of the Year and Risk Product Innovation (for our underwriting rules engine). It’s great to see that our focus on ensuring a fast and easy underwriting experience, along with providing dedicated support to our advisers, is being recognised.
Importantly, both our NPS score and AFA awards were voted for by advisers. We truly appreciate the support advisers have shown NEOS and we’re delighted that we’re able to re-pay that support by setting a new standard for service in our industry.
In a relatively short period of time, NEOS has truly become a leader in Australian life insurance and the preferred choice for advisers around the country. But we won’t stop here. Through the passion and commitment of an outstanding team of people, NEOS will continue to search for better ways and to keep raising the standard in Australian life insurance.
We look forward to continuing to wow advisers and customers alike.
NEOS is the promoter and administrator for NEOS Protection plans, which are issued by NobleOak Life Limited.