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TAL Wins Life Company of the Year

TAL Life has been announced as the winner of the prestigious AFA/Strategic Insight 2017 Platinum Award for Life Company of the Year.

This is the fifth Platinum Award win for TAL, having also won in 2010 (as Tower Life), 2011, 2012 and 2014, in what is the most sought-after industry accolade for life insurers.

The runners-up for 2017 were BT Financial Group (which had won the Platinum Award in each of the last two years) and MLC Life Insurance.

The Platinum Award is highly-valued by life companies because of the rigour that underpins the Award criteria, where the companies are assessed by Strategic Insight against key benchmarks including:

  • Financial Strength and Sustainability
  • Market Sales Growth
  • Premium Rates
  • Premium Rates Volatility
  • Relative Quality of Terms and Conditions
  • Service Quality

Winners and finalists in other major categories included:

Service Quality Award

  • Winner: TAL Life
  • Finalists: Zurich, BT Financial Group

Client Service Team Awards

  • Underwriting Team of the Year:
    • Winner: BT Financial Group
    • Finalists: ClearView, Zurich, Asteron Life
  • Claims Team of the Year:
    • Winner: OnePath
    • Finalists: BT Financial Group, ClearView, Zurich
  • BDM/Business Support Team of the Year:
    • Winner:ClearView
    • Finalists: TAL Life, AMP, Zurich

Term/TPD Product Award

  • Winner: Zurich
  • Finalists: TAL Life, AIA Australia, OnePath Life

Trauma Product Award:

  • Winner: TAL Life
  • Finalists: OnePath Life, MLC Life Insurance

Income Protection Product Award:

  • Winner: CommInsure
  • Finalists: TAL Life, MLC Life Insurance

AMP and MLC Life Insurance were announced as the joint winners of the 2017 Innovation Award for AMP’s LIF Resource Hub for advisers and MLC’s Claims First cloud-based automated system.

Elsewhere, Challenger again ‘cleaned-up’ in most of the Annuity Awards categories, including the overall Award for Overall AnnityProvider of the Year.

Platinum winners since the inception of this Award have been:

2017: TAL Life
2016: BT Financial Group
2015: BT Financial Group
2014: TAL
2013: CommInsure
2012: TAL
2011: TAL
2010: TOWER/CommInsure (Joint winners)
2009: CommInsure
2008: Asteron/Aviva (Joint winners)
2007: CommInsure
2006: AXA

(L-R): Strategic Insight Managing Director, Simon Solomon; TAL General Manager Retail Distribution, Niall McConville; AFA National President, Marc Bineham

  • Ten Beers

    I read the headline and then remembered the story this week where a TAL executive’s claim’s has been denied for many months with his mental illness. The timing waters down the value unfortunately

  • Philip

    When determining who receives an award does Stratgic speak to clients and advisers as well, or does Stratgic only use the information furnished by the participants ? Also, why are these awards necessary and who ‘stress tests ‘ the process?

  • Reality is reality

    Extremely poor choice. Have a look at their departures over recent years. Sinking ship driven by their own importance – that being….self promotion. Wake up AFA.