March 15, 2018
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:
- 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
2010: TOWER/CommInsure (Joint winners)
2008: Asteron/Aviva (Joint winners)