Zurich has been named as the preferred choice of life insurance policy holders, winning the top award at the second annual Consumer Choice Awards.
The Awards, which are a joint initiative of the AFA and the Beddoes Institute, named Zurich as the 2017 Consumer’s Choice, a title won by BT Financial Group in last year’s inaugural awards.
Zurich was also named as the winner in the Most Satisfied Customer and Best Consumer Advocacy categories and was a finalist in the Value for Money, Best New Customer Service and Focus on Early Intervention Awards.
BT Financial Group, which had a very strong showing in last year’s awards (see: BTFG Sweeps Consumer Choice Awards) won three award categories – Best Application Process, Best Claims Staff and Return to Health and Wellness, and was a finalist in a fourth category – Best Turnaround Time.
“It’s one thing to be good in certain areas but it’s an entirely different thing to be consistently excellent in everything…”
Other insurers to receive an award were MLC Life for Best New Customer Service and Focus on Early Intervention, AMP for Value for Money and OnePath for Best Turnaround Time.
The Awards have three sections including the overall Consumer Choice Award – which recognises the insurer that excelled at servicing policyholders and delivering on promises to claimants – and the Policyholder Choice Awards and the Claimant Choice Awards.
The Policyholder Choice Awards recognised outstanding customer service and education, health and wellness programs, communication and other consumer-focused initiatives conducted by insurers, while the Claimant Choice Awards recognised outstanding service of IP, Trauma and TPD claimants, including claims processing, early intervention, support and holistic care.
Beddoes Institute Director, Dr Rebecca Sheils said insurers were listening to large groups of consumers on an ongoing basis and had begun to prioritise where they could improve their services to meet customer needs.
“This year marks an unprecedented level of inter-company engagement with the Awards. It’s encouraging that so many insurers are pursuing excellence in servicing claimants and policyholders. It’s one thing to be good in certain areas but it’s an entirely different thing to be consistently excellent in everything, and this is what we are starting to see,” Sheils said.
Consumers Choice Award
- Winner: Zurich
- Finalists OnePath, AMP, MLC Life
Policyholder Choice Awards
Value for Money
- Winner: AMP
- Finalists: Zurich, OnePath
Best New Customer Service
- Winner: MLC Life
- Finalists: AMP, Zurich
Most Satisfied Customer
- Winner: Zurich
- Finalists: AMP, OnePath
Claimant Choice Awards
Best Application Process
- Winner: BT Financial Group
- Finalist: OnePath
Best Turnaround Time
- Winner: OnePath
- Finalists: BT Financial Group, MLC Life
Best Claims Staff
- Winner: BT Financial Group
- Finalists: OnePath
Return to Health and Wellness
- Winner: BT Financial Group
Focus on Early Intervention
- Winner: MLC Life
- Finalists: Zurich, OnePath
Greatest Gain in Advocacy
- Winner: Zurich
