CoreData has named TAL as its 2012 Risk Provider of the Year, as part of the research firm’s Annual Risk Report.
The report examines the top drivers of adviser satisfaction with their insurer, awarding Life Company of the Year to the provider with the highest weighted satisfaction among its main users. TAL scored the highest of the 11 insurance companies reviewed, followed by Macquarie in second place and Asteron in third. AIA and Zurich rounded out the top five, receiving a commendation from CoreData.
TAL’s CEO Retail Life, Brett Clark, said the win was a testament to the efforts of TAL’s staff, who “go out of their way – on a daily basis – to deliver outstanding products and services…”
“We congratulate the other finalists and thank our adviser partners who contributed to this award, and are as passionate about life as we are.”
The customer is at the centre of what’s driving satisfaction among advisers with their life company in 2012
In 2012, a strong customer focus was once again the primary driver of adviser satisfaction, with TAL, Macquarie and Asteron ranking as the top three insurers to display this attribute.
The other top adviser satisfaction attributes were the:
- Competitiveness of cover definitions (IP)
- Extent to which the provider is perceived to be easy to do business with
- Ease of access to sales support information online (for advisers)
- Timeliness of commission statements
Kristen Turnbull, Head of Advice, Wealth and Super at CoreData, said the drivers of satisfaction in 2012 reflected the strong focus on providing quality customer service and value to clients and the desire from advisers for systems and processes that streamline their businesses.
“The customer is at the centre of what’s driving satisfaction among advisers with their life company in 2012, and rightly so,” she said. “Advisers are looking for utility in the life company’s offer, as seen in the focus on competitiveness of pricing options and cover definitions across income protection, term life, trauma and TPD.”
“The life companies with the highest adviser satisfaction this year are considered easy to do business with by their main users and demonstrated an ability to provide support to advisers around sales, industry changes and business development. In an environment where risk specialists and financial planners generally are facing a myriadof regulatory changes and continued market volatility, advisers are looking to their life companies to bring greater efficiency to their practices,” she added.
