Suncorp has taken out the top prize in the 2014 Plan For Life Direct Insurance Excellence Awards.
Presented at a lunchtime event held in Sydney, the Awards, now in their second year, recognise life insurance company excellence in the provision of direct life insurance products and services.
Suncorp won the overall Direct Life Insurance Excellence Award, as well as the Funeral Cover Award.
CommInsure received the Customer Service Award and Virgin Money received the Marketer Customer Service Award and Marketer Product Award for promoters of direct life insurance products. Allianz won the Innovation Award for its LifePlan product.
Other Product Award category winners:
- Term Life Award – Zurich Financial Services (Ezicover Life Insurance)
- TPD Award – Allianz Australia Life Insurance (LifePlan)
- Trauma Award – AIA Australia (MaxiLife Trauma)
- Accident Cover Award – OnePath (Accidental Cover Plus)
- Income Protection Award – OnePath (Easy Protect Income)
Rael Solomon, Manager Marketing and Product Development at Plan for Life, said: “We want to support the long term viability of the Australian Life Insurance Industry by identifying and recognising market leaders and product excellence. We hope that the Direct Life Insurance Awards will help build consumer trust and awareness of the range of life insurance options available. We’d like to see the life insurance market receive the same level of attention and research focus as investments and superannuation markets.”
Simon Solomon, Plan For Life Actuary, added: “The direct life Insurance market has reached a point of development, where we believe it is now highly beneficial to have an independent and objective form of benchmarking. The Direct Life Insurance Awards are designed to present the key facets of both companies and their products in one of the clearest ways possible.”
