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Value, service, security. These are the three key areas for our relationships with our customers. Because we only work with closed funds, our efforts and expertise are concentrated on improving the performance of funds, not chasing new customers or new business. As you’d expect from a company which is purely focused on maximising returns for policyholders, we’re committed to providing all our customers with a fair, first-class and compliant service. It’s the role of our Customer function to make sure that we’re keeping our promises, and that we’re constantly improving and maximising the performance of funds on their behalf. We’ve some 120 people working in our Customer function and our work is structured in seven key areas:

Product Management: We ensure that we understand the promises made to customers and that we’re delivering them in a manner that complies with all relevant regulatory and industry standards.

Customer Oversight and Improvement: We make sure that the customer service we’re providing is of the highest standards and is delivering fair outcomes for our customers. As a team, we operate a risk-based oversight strategy that ensures an enhanced, appropriate and compliant customer experience for Phoenix Group.

Customer Relations: While individual Outsource Service Providers (OSPs) are responsible for day-to-day complaint handling, we have full, overall responsibility for ensuring that complaints are dealt with fairly and in a compliant manner. We also deal directly with any complaints deemed exceptional and act as a conduit to protect the Group and its brand.

With-Profits Management: We monitor and report on all aspects of Treating Customers Fairly from a financial perspective, with particular reference to the exercise of discretion in Phoenix Life with-profits funds, and ensure compliance with the principles and practices of financial management.

Customer Engagement and Value: We aim to enhance the value of a customer’s relationship with Phoenix. We manage the Phoenix Life brands and we define and own the standards for how we communicate with our customers. We also implement direct marketing plans with carefully selected affinity partners.

Operational Risk: We provide proactive management and reporting of all Customer functions’ risks in line with the Phoenix Group Risk Management Framework. We make sure that controls for key risks are identified, assessed and are operating within the defined risk appetite.

Customer Support: We measure, inform and assist in the delivery of fair, compliant outcomes for customers. We work closely with stakeholders across the business to build and measure customer experience and engagement. We use management information and customer research to spot areas for improvement – and where we see the need for improvement, we work with change management functions to make it happen.

About Phoenix

Phoenix Group. We're the largest UK consolidator of closed life assurance funds, with assets under management of more than £68.6 billion, and more than six million policyholders. Phoenix Group Holdings enjoys a Premium Listing on the London Stock Exchange and is a member of the FTSE 250.

About our locations

We've two main offices – one based in the heart of the City, only a stone's throw from St. Paul's Cathedral, and the other based in 42 acres of grounds in a stunning rural location on the outskirts of Birmingham.

Phoenix people

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