MLC Life Insurance was the big winner at last week’s Health & Wellness Life Insurance Awards.
Now in its second year, these Awards were created by well-known research firm, Plan For Life, to recognise those life company programs which are “…designed to impact beneficially on the health and wellness of customers.”
In a release announcing the winners, PFL noted that its overall Health & Wellness Life Insurance Award, won this year by MLC Life Insurance, is based on a holistic review covering 45 underlying factors of health & wellness programs offered by the product providers.
Individual award winners, and the basis for each award, included:
Devices & Health Tracking Award
Based on how life companies measure and monitor Health & Wellness activities undertaken by customers, including eleven factors covering physical activities and health tracking. Winner: AIA Australia.
Discounts & Healthy Living Rewards Award
Considers how Life companies reward customers that meet healthy living conditions, including nine factors covering premium discounts and other discounts for entertainment, leisure and shopping. Winner: AIA Australia.
Physical & Mental Health Support Award
Based around how life companies support customer’s physical and mental health needs, including five factors covering early prevention support and access to ongoing professional help and information. Winner: MLC Life Insurance.
Ongoing Medically-Tested Health Discounts Award
Considers the extent to which life companies use actual medical tests to determine if premium discounts are appropriate, including two factors covering the extent of health/medical questions and ongoing health/medical checks for additional discounts. Winner: TAL Life.
Rehabilitation & Claims Support Award
Based on how insurers support customer’s healthy return to work, including five factors covering rehabilitation, counselling and recovery support. Winner: TAL Life.
Outcomes Experience Award
Based on actual measured outcomes arising from Health & Wellness initiatives as determined through data collection showing improved retention, reduced lapsation and evidence for improved customer health. Winner: MLC Life Insurance.
In addition to a number of other health & wellness awards, PFL also announced the winners of its inaugural Longevity Cover Excellence Awards, where the top Award was won by Challenger, while NobleOak was the overall winner in PFL’s 6th Direct Life Insurance Excellence Awards.