More consumers spontaneously identified insurance when asked what business or businesses the NRMA was in, but when asked to nominate the NRMA's main area of business, road service dominated. It already offers loans, credit cards, funds management, life insurance, superannuation and general insurance, and has a 1.9 million, loyal customer base that is widely coveted by other financial institutions seeking to develop market share and cross-sell. An NRMA spokesman said its position relative to other brands had not deteriorated but confirmed there had been a long-term diminution in some of NRMA's attributes. Financial markets quantitative researcher Ms Elizabeth Dangar, principal of Dangar Research, says her general finding in relation to consumer sentiment in the financial services sector is that older consumers are quite resentful of banks for breaking relationships and focusing too heavily on enticing new customers without rewarding older customers for loyalty. But younger people feel empowered by the choice available and see it more as a buyers' market.
People have far less trust in all institutions, including financial ones.
There is a lot of inertia in this area, because it is a hassle to go chasing around. So quite often there is loyalty by lack of real motive to move. Privacy Policy Copyright 2000.