Principal Financial Group 2008 Annual Report Download - page 15

re champions of financial security in good times and bad.
As uncertainty grows, we’ve heard from advisers
and customers who are concerned. We’re
supporting them in numerous ways, including:
n Making it personal. We continue to provide personalized
service in meaningful ways. In 2008, we conducted
nearly 77,000 one-on-one meetings at employer
worksites—offering workers individualized assistance
and information to help them maximize their benefits.
And through Principal Connection, we fielded
approximately 250,000 calls from job-changers and
retirees, helping them make informed decisions
about their retirement plan assets.
n Providing excellent service. In fourth quarter, due to
the economic turmoil, we averaged 23 percent more
calls in our retirement contact center, compared to
fourth quarter 2007. Not only were call volumes
higher, but calls were longer as customers addressed
multiple concerns related to their financial well-being.
We brought in extra resources, suspended off-phone
activities and scheduled overtime to meet the demand.
Throughout this time, we maintained an extremely
high customer satisfaction rate of 97 percent.
n Helping advisers sort through the economic confusion.
We’ve consistently reached out to advisers, offering our
expertise and perspective so they can best help their
customers. In recent months we’ve hosted two
conference calls featuring our leading retirement and
investment experts, both times inviting more than
12,000 retirement advisers to participate. These
calls received much positive feedback. And our monthly
e-mails to thousands of advisers provide the latest
economic updates and related marketing tools.
n Enhancing online tools. In May we launched our
My Principal® Edge Milestones online tool, enabling
individual investors to establish a retirement savings
goal, determine if they are on track and create a plan.
Approximately 30 percent of individuals using the
tool made a change to secure their financial future.
n Delivering on our promises. We continue to meet our
obligations to customers, delivering on the promises
we make when they take out a life, health, disability
or other insurance policy from us. Throughout 2008
we paid out $2.4 billion in insurance-related claims,
making sure our customers are taken care of in their
times of need.
We’ve had more interactions with individual customers
this year than ever before. We understand their concerns.
And we’re committed to helping them through this
uncertain time. For the latest information to help you
make smart decisions and secure your financial future,
visit www.principal.com/now.
2008 Year in Review | Commitment 13