Singapore's customer satisfaction index hits an all-time high

Index climbed to 69.9-points.

According to the Customer Satisfaction Index gathered by the Institute of Service Excellence at Singapore Management University, Singapore's satisfaction index rose to 69.9-points (on a 0 to 100 scale), a significant* 0.88-point (+1.3%) increase from 2011. 

This is the second year running the index has shown a significant improvement and represents a record high since the CSISG started tracking Singapore’s customer satisfaction levels in 2007. In 2011, the CSISG rose 69.1 from 67.2 in previous year.

The survey also found out that three of the nine measured industry sectors registered significant improvements year-on-year. These were, in order of improvement, the Healthcare, Finance & Insurance, and Info-communications sectors, respectively.

Customer satisfaction fell in five industry sectors, namely Private Education, Tourism, Public Education, Transport & Logistics, and Retail, in order of severity. There was no significant change from the previous year for the Food & Beverage sector. 

Several companies among the 110 companies measured had also significantly outperformed the national average and their strong performance is a worthy highlight. They are grouped by their industry sectors.

CSISG 2012’s improvement was contributed in part to the significant gains in the Finance & Insurance and Healthcare sectors, as measured between October to December of the year.

The Finance & Insurance sector scored 71.7-points, a significant 3.19-point (+4.7%) increase from the previous year. The Healthcare sector scored 71.3-points, a significant 4.80-point (+7.2%) year-on-year improvement. 

Within the Finance & Insurance sector, three of the four sub-sectors recorded significant improvements in customer satisfaction. The Banks, Life Insurance, and Motor or Other Personal Insurance sub-sectors drove the sector’s strong performance.

These three sub-sectors scored 71.8-points (+2.71-points/+3.9%), 70.6-points (+3.87-points/+5.8%), and 69.8-points (+2.53-points/+3.8%), respectively. The Health & Medical Insurance sub-sector scored 67.8-points (+0.47-points/+0.7%), though the changes here were not significant from 2011. 

In the Life and Health & Medical Insurance sub-sectors, Great Eastern scored significantly above the respective sub-sector averages. NTUC Income out-performed the sub-sector average in the Health & Medical Insurance sub-sector.

Amongst the banks that were measured in CSISG 2012, Citibank, HSBC and Standard Chartered Bank are three qualifying full banks (QFBs) that outperformed the Banks sub-sector average. 

As for the Healthcare sector, all five sub-sectors showed improvements from 2011. They were led by the Specialised Healthcare sub-sector which improved by 5.54-points (+8.3%) to 72.0-points. 

Specialised Healthcare consists of various specialised healthcare providers, including dentists and traditional Chinese medicine clinics. Significant improvements were also recorded in Polyclinics (66.6-points, +4.48-points/+7.2%), Restructured Hospitals (70.5-points, +4.40-points/+6.7%), Private Hospitals (72.7-points, +3.77-points/+5.5%), and General Practitioners (70.1-points, +3.03-points/+4.5%).