Customer and market commitments.


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Customer and market commitments

We commit

Governed by

Area of focus for 2012 – 2014

GCSR Owner

Commentary

Red / Amber / Green status?

To ensure customers do not receive inappropriate advice from our appointed representatives

Group ethics committee

In 2012 reduce the number of customer complaints as a % of our customer base (0.54% complained in 2011 or 1 in 187 customers)

Philippa Scott

Overall, we have received complaints from 0.58% of our UK customers, which is above the target of 0.55%. The biggest single factor is the increase in payment protection insurance related complaints across the whole year. If PPI complaints were excluded, we were below target at 0.50%.

We are continuing with root cause activity and are working on identifying more explicitly those causes that arise from historic business and external events compared to current day to day operations.

We just missed it.

Group CSR committee

In 2012 develop a formal NGO engagement and monitoring process to help the Group to recognise the increasingly important role that Legal & General plays in the global economy through operating and through its investments.

Graham Precey

A number of pieces of work have improved our relationship with NGO’s in 2012 where we delivered

  • Training by SIGWatch in January on how to deal more effectively with NGO’s.
  • Interactions with the following NGO’s because of investment holdings in 2012. Reprieve, Action Aid.
  • LGP training on dealing better with community activism delivered in July to fund managers
  • Group Tax meeting with Action Aid delivered with outcome of more overseas tax disclosure on subs and JV’s for 2013
  • Group Financial Crime have joined the Transparency International Corporate Network as a support mechanism for policy development
  • Due diligence on MENA (Middle East and North Africa) businesses being supported with Transparency international
Measurement
  • SIGWATCH ratings for the Group continue to be low on NGO’s radar with a score of (–9 /) 9 Neutral rating up from (– 29) in 2011.
  • Ipsos MORI research on our performance with NGO’s shows that we have work to do to be more proactive with this community.
Our Tax Policy is published as best practice in the the Action Aid “Tax Guide for Investors” campaign.

We de­livered

To ensure policies and procedures are in place to protect customer information from misuse of financial crime

As part of our UK growth strategy and to support our 6 Group-wide campaigns: Turn at least 5 innovative partnerships with third sector organisations into more socially inclusive products and / or adjustments to service Legal & General's customers by the end of 2013

Graham Precey

Working with the businesses current product and service enhancements include

  • Enhancing individual protection claims through charity partners at claims stage including Macmillan, Friendly Faces and Samaritans
  • Our Home Insurance business is now providing home contents insurance to social housing providers. We now cover 31,400 tenants in social housing and have involved Shelter and Anchor Trust in these early discussions.
  • Elderly Accomodation Counsel has provided research to our direct annuities business to educate us on online annuities and customer behaviour.
  • “Step up for Success” has provided ways for our savings and business to engage Generation Y in savings and social media.
  • Tax help for Older People have provided us with policy support and training with our annuities and group tax teams to deal with pension customers better.
  • A Surrey Save marketing campaign for our savings business has helped us to drive customers into credit unions and also understand what makes people save.
  • AGE UK have provided age aware training in our retail savings business to improve our empathy with customers.
  • We ran a Cancer Research UK campaign with our direct protection business to highlight areas of health underinsurance.
  • Social Enterprise UK have provided our procurement professionals with training and policy support to integrate social enterprises into our supply chain.
  • The RNLI have provided our home insurance flood claims handlers with training on what its really like for customers in a flood emotionally and financially.
  • EAC, Work Foundation, AGE UK and Shelter have provided valuable input on our 35 cubed research into modern day intergenerational reliance.
  • Rethink are working with our group protection business to work together on issues of mental health in the workplace.
  • British Heart Foundation continues to provide seminars to group protection customers who are looking to create healthier workplaces.

We de­livered

To listening to and acting upon customer feedback about our products and services.

To making it easier for our customers to do business with us.

Developed a dialogue with all customers (individuals, intermediaries and institutions).

Built a strong social purpose and relevance to society with a focus on a broader demographic

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