BT Financial Group (BTFG) has been named as the Platinum Winner of the Plan For Life (PFL) / Association of Financial Advisers (AFA) Life Company of the Year Awards.The awards, announced in Sydney last night at gala event, also saw BTFG as a finalist in the Overall Annuity Provider of the Year and Underwriting and New Business Team of the Year categories.
The win for BTFG is its first in the history of the awards with 2014 winner TAL and 2013 winner CommInsure announced as runners up for the overall Platinum Award.
AFA, Chief Executive, Brad Fox said the Platinum Award recognised the BT Financial Group as an insurer which exceeded expectations in terms of product quality, innovation and service.
“Australians are best served when financial advisers and life insurers are working constructively to provide personal life insurance solutions to consumers. The PFL/AFA Life Company of the Year Awards aim to inspire competition and set higher benchmarks for insurers in satisfying the needs of both advisers and their clients.”
Plan For Life, Marketing & Product Development Manager, Rael Solomon said life insurance companies had been working on better way to engage with advisers and clients during the past year, pointing to initiatives around helping customers to improve their health and the associated benefits in the cost of insurance cover.
“An increasing number of companies have introduced new health programs as part of their offer to both new and existing clients. We expect that this trend towards health benefits will continue to be refined in future.”
While the awards cover risk, investment bond and annuity and income stream products they also include service awards in the areas of underwriting, claims and business support services.
These awards are determined exclusively from adviser feedback collected from an extensive joint AFA and riskinfo database, which is then analysed by the Beddoes Institute.
Of these awards BTFG won the Claims Team of the Year award while Zurich won the Underwriting and New Business Team of the Year; and the Business Support Services and BDM Team of the Year awards
In total, 13 awards were presented at the black tie event, including the client service team awards.
Product Awards
Platinum Award – 2015 Life Company of the Year
- Winner: BT Financial Group
- Finalists: TAL, CommInsure
Service Quality Award
- Winner: Zurich
- Finalists: AIA, TAL
Term/TPD Award
- Winner: TAL – Life Insurance Plan
- Finalists: OnePath – OneCare Life Cover Plan, AIA – Life Cover Plan, AMP Elevate – Life Insurance Plan
Trauma Award
- Winner: TAL – Critical Illness Premier Plan
- Finalists: OnePath – Trauma Premier Plan, AIA – Crisis Recovery Plan
Income Protection Award
- Winner: BT Financial Group – Income Protection Plus Plan
- Finalists: OnePath – Income Secure Professional Plan, AMP Elevate – Income Insurance Premier Plan
Risk Product Innovation Award
- Winner: MLC On Track
- Finalists: Zurich – Adviser Flip Chart, TAL Health Sense Fit for Life
Investment Bond Award
- Winner: CommInsure
- Finalists: IOOF, Centuria
Overall Annuity Provider of the Year
- Winner: Challenger
- Finalists: CommInsure, BT Financial Group
Long Term Income Stream Award
- Winner: Challenger
- Finalists: CommInsure
Annuity & Income Stream Innovation Award
- Winner: Challenger – Aged Care Planning Course UNSW Business School
- Finalists: CommInsure – Enhanced Annuity Quoting and On Line Application System
Client Service Team Awards
Underwriting and New Business Team of the Year
- Winner: Zurich
- Finalists: BT Financial Group, AIA
Claims Team of the Year
- Winner: BT Financial Group
- Finalists: AIA, Zurich
Business Support Services and BDM Team of the Year
- Winner: Zurich
- Finalists: BT Financial Group, AIA
Previous Platinum winners of this Award have been:
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
In case the AFA hadn’t noticed there are thousands of advisers currently lobbying their government members to try and stop changes that will see us out of business in the future. We have the LICG and AIOFP fighting our corner and Federal members like Bert van Manen opposing LIF.
And what do we hear about from our fearless AFA leaders? About a back-slapping, black tie dinner with the very companies who are looking to help destroy risk advisers.
Unbelievable!!!
What’s the betting the biggest winners were in order of biggest financial supporters?
How about telling us what the AFA are doing for their members and not the insurance companies by comparison to the LICG and AIOFP??
well said, given the AFA doesn’t want to upset their paymasters it is just best to hand out awards and ignore the sucker IFA’s
Please excuse the lateness of this observation but how in God’s name does CommInsure come in as a finalist for life company of the year?????
Overpriced, outdated insurance solutions that are 5 years behind AIA, BT, Zurich and TAL. Further to that, from the scrutiny aired by the media the last few days, they also seem hesitant to pay claims now. And yet they’re named a finalist for Life Company of The Year. HOW exactly?
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