Customer satisfaction survey - Products
Scottish Friendly products received a score which was rated below average, again this was largely due to the opinion of recent maturing customers.
The percentage of respondents rating their product "excellent" or "very good"
| 2010 | 2009 | 2008 | |
| Scottish Friendly score | 39% | 48% | 51% |
| Industry Ranking | Third Quarter | Top Quarter | Top Quarter |
Detailed categories
Within the detailed categories Scottish Friendly's products were rated more positively, however whilst they were rated as easy to understand and managing risk expectations they were also scored as below average for flexibility.
Easy to understand
| Scottish Friendly score 2010 | 38% | Industry Ranking | Top Quarter |
| Scottish Friendly score 2009 | 46% | Industry Ranking | Top Quarter |
| Scottish Friendly score 2008 | 44% | Industry Ranking | Top Quarter |
Return on investment
| Scottish Friendly score 2010 | 24% | Industry Ranking | Second Quarter |
| Scottish Friendly score 2009 | 32% | Industry Ranking | Top Quarter |
| Scottish Friendly score 2008 | 33% | Industry Ranking | Top Quarter |
Being flexible
| Scottish Friendly score 2010 | 29% | Industry Ranking | Third Quarter |
| Scottish Friendly score 2009 | 32% | Industry Ranking | Second Quarter |
| Scottish Friendly score 2008 | 33% | Industry Ranking | Second Quarter |
Managing risk expectations (new question)
| Scottish Friendly score 2010 | 25% | Industry Ranking | Second Quarter |
After a year of investment and relative improvement in our product ratings, a result which places us at the industry average score (thus placing us in the third quarter), is clearly disappointing. Over the past few years as a result of a range of customer feedback processes (including the Customer Impact Report) we have added a range of more flexible products as well as new innovations to allow additional options for maturing customers. We will look at ensuring customers are better informed of these options as well as offering them a range of more flexible investment products.
Once again the impact and strength of feeling of maturing customers has had the greatest impact on the Customer Impact ratings and this was telling in the overall product rating.