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Friday, June 29, 2007

Engaging the customers

How does NTUC Income engage the customer (during the time that you were the CEO)? Does this help in the development of its business?

MY REPLY:

Over the past years, NTUC Income has actively communicated with its customers (policyholders) on the following:

* NTUC Income is a cooperative society
* Most of its surplus are distributed among its participating policyholders
* It shareholders receive only 2% of its surplus
* Its primary aim is to serve its policyholders (members) by offering low cost and a better return
* NTUC Income communicate actively and in a transparent manner
* It does not need to maximise profit for shareholders (ie avoid conflict of interest)

This active communication strategy has built up a strong loyalty among its policyholders.

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