Our service is personal and we focus on the quality of customer service to ensure our customers are provided with the assistance they require swiftly and reliably. We advise and support our customers in pension matters throughout their careers.
Our sole entrepreneur and corporate customers value the service of a designated contact person
Veritas is responsible for the pension insurance cover of approximately 14 200 sole entrepreneurs and 8 000 companies. We are the only pension insurance company to provide each and every one of our YEL and TyEL customers a designated pension insurance expert. The significance of personal customer service has become accentuated amidst the uncertainty of the recent years. As the coronavirus pandemic rages on, swift customer service appreciative of customer needs has been in high demand and we have managed to assist our customers in a variety of changing circumstances.
The attainability of customer service and the satisfaction of our customers with the service have remained at a very high level throughout 2021. We measure customer satisfaction through an NPS survey sent after service encounters and our aim is for it to remain above 50 at all times.
Goal 1: We focus on customer service
+ 71
The NPS score awarded by our YEL and TyEL customers*
*NPS (Net Promoter Score) is a generally used indicator of customer satisfaction. In the NPS surveys, customers are asked how likely they are to recommend Veritas or Veritas’ services. The NPS score is calculated by deducting the percentage share of critics (ratings 0–6) from the share of promoters (ratings 9–10). The lowest possible NPS score is thus -100 and the highest is 100. Usually, NPS scores above 50 are considered as good.
Due to the good service satisfaction and our active customer work, our customer retention rate soared to a record-breaking level in 2021. We were also more successful in our sales than ever before. Veritas was selected as the new pension insurance company by 2 828 new sole entrepreneur customers and 1 732 new corporate customers.
Dialogue and communications concerning YEL employment income
In 2021, the Financial Supervisory Authority launched a survey of the implementation of the Self-Employed Persons’ Pensions Act (YEL) in pension companies. The objective of the thematic assessment was to examine the extent to which the implementation complies with the regulation, particularly the affirmation of the employment income stipulated under the regulation and the appropriateness of the information provided to the entrepreneur. The underlying concern behind the thematic assessment of the Financial Supervisory Authority was that at times the YEL employment income falls short of the entrepreneur’s actual working income and efforts.
The examination conducted by the Financial Supervisory Authority pertained to the practical procedures applied by pension companies in affirming such employment income. The supervisory authority highlighted that for the most part, the working income affirmation decisions issued by the companies had been in accordance with the entrepreneur’s application, and reminded them of the pension companies’ responsibility in affirming a correct employment income, based on the actual work efforts.
Veritas adjusted its own guidelines on the determination and affirmation of the YEL employment income during the year. We also brought the matter up in customer encounters and in our communications geared at customers. We consider it a priority for each of our sole entrepreneur customers to truly grasp the importance of the YEL insurance as the foundation of their social security. The employment income serves as the basis for determining, inter alia, unemployment benefits, sickness allowance, parental allowance as well as pensions, such as occupational disability pension, rehabilitation allowance, family pensions and retirement pension. In order to secure the livelihood of the entrepreneur, the YEL employment income needs to be at the correct level.