New Client Service and Participant Approach to Enhance High Satisfaction Rates at Mutual of Omaha
OMAHA, Neb. (October 24, 2016) – Mutual of Omaha Retirement Services has announced enhancements to its client facing team and overall participant experience in order to build upon exemplary customer service. According to a recent client survey conducted by Chatham Partners, Mutual of Omaha Retirement Services received a 96 percent overall satisfaction rating and a 98 percent rating for overall satisfaction from full-service clients. This is the highest of all full-service providers in the benchmark.
“While our plan sponsors appear to be very satisfied with our product and customer service approach, we want to do more, especially when it comes to client satisfaction and the participant experience,” said John Corrieri, Vice President of 401(k) at Mutual of Omaha.
To enhance its customer service model, Mutual of Omaha has created a more hands-on, personalized, single point of contact for all plan sizes. “The quality of our dedicated relationship managers for plans over $1 million has been a key factor in our extraordinary client satisfaction numbers. Expanding that service down market is the right thing to do and allows us to support our company’s commitment to simplicity and ease of doing business,” said Patty Hutchinson, Director of 401(k) Customer Service at Mutual of Omaha. “We think this will enhance the best in class service our clients expect from us.”
Mutual of Omaha also is piloting a new participant experience that significantly increases the engagement level of employees across multiple demographics and highlights the value of local financial advisors. “The initial pilots have shown incredible results in driving improved plan participation and deferral rates with employees who, prior to the experience, had been less than fully engaged in their retirement,” said Corrieri. “In preparation for a spring 2017 launch, we are hiring a team of highly qualified engagement specialists to partner with our plans’ financial advisors and execute our program in the field.”
In the survey conducted by Chatham, Mutual of Omaha:
- Received best-in-class ratings in 10 categories
- Surpassed 22 of 23 industry benchmarks
- Achieved an Overall Customer Satisfaction rating of 96 percent (based on ratings of five or higher on a seven-point scale)
Chatham Partners, a leading independent market research firm that conducts client satisfaction and loyalty studies in the retirement services industry, surveyed Mutual of Omaha Retirement Services’ entire 401(k) customer base to provide comprehensive data on all aspects of the company’s service offerings. It was the third year Chatham conducted the survey on behalf of Mutual of Omaha Retirement Services.
For more information about Mutual of Omaha Retirement Services and other retirement products and services, visit www.getretirementright.com.
Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States.