PIC re-awarded ServiceMark Accreditation

Pension Insurance Corporation plc (PIC) has been yet again recognised for its “consistently high customer service levels.”

CGI image of the One Eastside Build to Rent development | BTR News
CGI image of the One Eastside Build to Rent development.

Specialist insurer of defined benefit pension funds PIC has been re-awarded the ServiceMark Accreditation with Distinction from The Institute of Customer Service.

ServiceMark is a national standard, independently recognising an organisation’s achievement in customer service and its commitment to upholding those standards.

The Institute’s re-accreditation is based on PIC’s ongoing commitment to delivering exceptional service for policyholders, trustees, employees and all stakeholders, alongside its long-term focus on delivering fair customer outcomes.

“We are delighted that the Institute has awarded PIC the ServiceMark with Distinction for a further three years. We recognise the responsibility we have in looking after our policyholders, and we will continue to ensure they remain at the very core of our company culture and values, as they sit at the heart of our purpose. It is essential that we remain flexible and innovative as we continue to grow as a business and our partnership with the Institute underpins that. The Institute sets the standards for customer service in the UK and we value their expertise and support to help us continue delivering exceptional service for our customers for the long term.”

Andy Rose, Head of Pension Services, PIC

PIC has been developing and monitoring its customer service levels with The Institute for almost a decade, initially attaining The Institute’s ServiceMark in 2015, and was awarded the ServiceMark with Distinction in 2017 – the first financial services company to achieve this, and one of only 23 companies in the country to hold it.

Undertaken by The Institute, the pension fund insurer’s score in its Business Benchmarking survey achieved a Customer Effort score of 2.9 out of 10; the lower the score, the easier it is to do business with the company.

PIC also secured a UK Customer Satisfaction Index (UKCSI) survey score of 87.1 out of 100 – placing it amongst the top performing customer service providers in the country. It was also successful at this year’s UK Customer Satisfaction Awards, winning The Institute’s Trusted Quality Service Provider of the Year award (March 2024).

“As the independent standard in customer service excellence recognition, it is always great for us to see organisations achieving ServiceMark Re-Accreditation with Distinction, indicating commitment to a long-term service strategy. I want to congratulate the team at PIC, who have displayed a commitment to delivering world class customer service, driven by a clear focus on the purpose of the organisation. As noted in their assessment, the team have shown a strong level of empathy and understanding towards customers. I am excited to see where they go next in their service journey.”

Jo Causon, CEO, the Institute of Customer Service

This year, PIC announced that it welcomed the Mayor of the West Midlands Andy Street to its One Eastside Build to Rent development, which is being delivered by Court Collaboration. PIC agreed to forward fund the scheme in late 2022, which will deliver 667 new Build to Rent homes alongside several amenities. Reaching 51 storeys when complete, the development will be the tallest building in Birmingham to date.

PIC has also funded the Miller’s Quay Build to Rent development in Wirral, Liverpool. The developer Peel Waters, PIC, construction firm GRAHAM, Homes England and Wirral Council have all been instrumental in the delivery of the scheme. Last month, Peel Waters appointed JLL as the marketing, lettings and management agent for the scheme, which is approaching its final stages of construction.