New Life Industry Consumer Choice Awards Announced


The AFA has joined forces with the Beddoes Institute to deliver a new suite of life industry awards.

AFA CEO, Brad Fox
AFA CEO, Brad Fox

Named the Consumer Choice Awards, the awards have been positioned as an industry first, in which life companies are evaluated by customers on what matters most to them.

In a release from AFA CEO Brad Fox, which details the nature of the Consumer Choice Awards, Fox says they are designed to improve the experience of life insurance customers and drive a deeper partnership between consumers, life insurance companies and advisers.

There are 18 recognition awards which are split into three main categories comprising:

  • Overall Consumer Choice Awards
  • Policyholder Choice Awards
  • Claimant Choice Awards

The awards website notes the Policyholder Choice Awards assess all companies, while the Claimants Choice Awards assess only those companies that provide contact details of their claimants. The Overall Consumer Choice Awards are positioned as the premier awards and acknowledge excellence in service from life insurance companies to both policyholders and claimants that also have a financial adviser.

The awards are based on the Beddoes Institute’s 2016 Policyholder Perceptions Study and the Claimant Journey Study that form part of an ongoing Life Insurance Performance Barometer.

“After two years of bringing consumers, advisers and the life insurance companies together, we are proud to have launched the Life Insurance Industry Performance Barometer – the first industry-wide life insurance customer experience benchmarking program,” said Dr Rebecca Sheils, Director of the Beddoes Institute. “We now see the Barometer as an important ongoing conversation between consumers, advisers and life insurance companies and firmly believe that this will drive positive change for all parties in the near future.”

Winners of the awards will be announced at an industry event in Sydney on 15 November. They include:

Overall Consumer Choice Awards:

  • Best Total Customer Experience
  • Best Customer Advocacy
  • Best Customer Focus
  • Honouring Commitments

Policyholder Choice Awards:

  • Best New Policyholder Experience
  • Best Ongoing Policyholder Experience
  • Best Policyholder Focus
  • Most Favoured Brand
  • Best Policyholder Advocacy
  • Best Application Process

Claimant Choice Awards:

  • Best Claimant Advocacy
  • Honouring Commitments
  • Best Claims Staff
  • Best Application Process
  • Best Ongoing Claims Management
  • Best Return to Health Outcomes
  • Life Back on Track
  • Best Turnaround Time