November 14, 2019
TAL has been announced as the overall Platinum Winner in the 2019 Plan For Life/AFA Life Company of the Year Awards.
This completes a hat-trick for TAL, which also took home top honours in 2017 and 2018.
AIA Australia, MLC Life Insurance and OnePath Life were named as runners up at the Awards event held today in Sydney.
In presenting the Awards, AFA CEO, Phil Kewin said, “Today we recognise those companies that have demonstrated an increased focus on improving consumer outcomes in areas where it matters – value, delivery, efficiency, cost, simplicity and transparency.”
He added, “We congratulate TAL Life on winning the Platinum Award, and all the winners and finalists of individual awards, who continue to deliver exceptional outcomes for advisers and their clients.”
Key Award categories included:
- The Overall AFA Life Company of the Year Awards, offered in conjunction with Plan for Life
- The Client Service Team Awards, offered in conjunction with the Beddoes Institute and Riskinfo
Life Company of the Year Awards
The overall Awards are based around Plan For Life’s Risk Products Benchmarking services, which benchmarks retail life insurers across five key metrics:
- Financial strength
- Market share based on sales and growth over three years
- Product feature strength based on a review of over 90 product features and definitions
- Service quality
- Premium rate comparisons across a wide range of ages and sums assured
Client Service Team Awards
The Client Service Team Awards recognise outstanding underwriting, claims and BDM teams. They are based on the annual Beddoes’ Adviser Experience Benchmarking Study annual study, which collates adviser ratings and feedback on their main insurance providers across all key touch-points between an adviser and insurer, including Underwriting, Product, BDMs, Business Support and Claims.
The Award winners and runners-up for 2019 are: