AmazonScience/document-haystack

1teams offered a range of webinars on various topics including geopolitical and social change 2as well as digital and sustainable transformation. Beyond that, our clients were served with 3Research House articles and our DWS CIO view. 4Opportunities and Risks5To assess client experience and minimize risks, we review complaints on an ongoing basis. 6Although we distinguish between clients and investors, as described above, all complaints 7raised by clients and investors are handled according to the same standards. We are 8committed to handling all complaints fairly, effectively, and promptly. Our complaint registers 9provide valuable insights into how we are performing from our clients’ perspective. A robust 10and consistent client complaint handling process as well as transparent reporting help to 11process these insights. We aim to identify and remediate client outcomes, to learn from them 12and train our client-facing staff accordingly.The goal is the reduction of mistakes, the 13enhancement of risk transparency, and management information. 14Minimum requirements for handling complaints are stipulated in the DWS Group Complaints 15Policy. Client Coverage staff will investigate each complaint thoroughly and notify our clients 16and investors about the outcome. Additional information regarding client complaint handling 17is available on our website. 18Process controls by managers should ensure that all received complaints have been handled, 19logged, investigated, resolved and reported in accordance with regulatory requirements. 20Furthermore, a central DWS Complaint Management function has been established to report 21material complaints to relevant internal boards. We also report to supervisory authorities 22when required by regulation.23In 2023, the number of complaints raised by clients and investors dropped significantly 24compared to 2022 (minus 62 percent). The extraordinarily higher level in the previous 25reporting period was caused by a concerted action of protest mails addressed to us. The 26volume of complaints logged in 2023 fairly reflects the ordinary business, with majority of 27complaints raised by retail funds investors.28Targets and Measures29We value feedback from our clients on their experience with us, to help us improve our 30service.31To measure client satisfaction globally in a consistent way, a new client satisfaction survey 32with our top 50 global clients, including our strategic distribution partners, was published as a 33pilot project in 2022 using the net promoter score methodology. The survey aims to enhance 34client experience and to further strengthen client centric orientation. The net promoter score 35rates the likelihood of recommending us to a business contact. We achieved a score of 50% 36(on a minus 100% to plus 100% scale) in this pilot. Senior management regularly reviews 37interim results and compares internal scores against the industry benchmark to set ambitious 38targets for improving client satisfaction.39In 2023 we conducted the second annual survey for these top clients with an additional 120 40key clients. The 2023 score was also at 50% across all clients. To determine development 41year over year, we aim to repeat the survey for the same population again next year. An 42additional expansion of the client satisfaction survey is being discussed. 43In addition, we conduct further internal and third-party client satisfaction surveys, which 44enable us to gain a 360-degree view of our client services. 45In Germany, annual client satisfaction surveys were conducted for our clients and distribution 46partners. Two options were offered to clients, a “Voice Survey” over the phone and an “E-Mail 47Survey”. Clients and advisors rated their satisfaction on friendliness of staff, professional 48competence, comprehensibility and solution orientation as well as sales-specific questions. 49The results were communicated to relevant internal stakeholders, including senior 50management, service centre staff, and the workers' council. Based on the feedback, we 51formulate steps for improvement which we incorporated into employee training. 52The overall participation rate was 9% in 2023 and client satisfaction was rated very high. 53Based on our client feedback in the business-to-consumer survey, measures were 54implemented to improve the quality of e-mail services. 55In the US, we conduct annual client satisfaction surveys for our insurance clients which is 56focused on investment performance, client service, innovation and overall satisfaction levels. 57The survey has shown a consistently positive overall satisfaction rating of over 90% for the 58last five years.59We strive to process findings from client satisfaction surveys and complaints quickly to 60implement them accordingly.61        62To our Shareholders Summarised 63Management Report64Consolidated 65Financial Statements Compensation Report Corporate Govern-66ance Statement67Supplementary 68Information DWS 2023 Annual Report69 70Our Responsibility7137 Client Commitment