December 3, 2019
Beddoes Institute has this week announced the winners of its inaugural Most Valued BDM of the Year Awards.
Zurich’s Sebastian Nazar, who delivers BDM services for advisers in the SA/NT region, was announced as the first-ever National Winner of the Most Valued BDM of the Year, in a series of awards that were dominated this year by Zurich BDMs.
The results of this adviser-driven awards package, however, are consistent with Zurich’s recent BDM Team of the Year Award, which was one of Beddoes’ Client Service Team Awards forming part of the AFA’s Life Company of the Year awards suite (see: TAL Wins 2019 Life Company of the Year).
The following BDMs were announced as winners of the State and phone-based categories:
- Robert Plonski (NSW/ACT)
- Sebastian Nazar (SA/NT)
- Fayrouz Fares (QLD)
- Sarah Nichols (VIC/TAS)
- Steve Coyle (WA)
- Matthew Keating (phone-based).
Beddoes Institute notes these awards are a true litmus test of BDMs as they are rated by the advisers they support.
Dr Rebecca Sheils, Director at Beddoes Institute, explained that the 2019 Adviser Experience Study which underpins the awards was completed in October 2019 and saw over 3,100 advisers rate their main insurers and BDMs. The Most Valued BDM Award is based on on four key metrics:
- Overall satisfaction with the BDM
- Overall satisfaction with business support
- A weighted average of performance across seven BDM qualities and attributes measured in the survey
- A weighted average of performance across eight different business support metrics
Dr Sheils elaborated: “We applied machine learning algorithms to our latest adviser experience dataset comprising over 3,100 adviser ratings from 2019 to determine, with clarity, what advisers value from both their insurers and BDMs right now in this rapidly changing market.”
…It’s important to acknowledge that BDMs can and do make a profound difference…
She added, “We used coefficients from this data modelling to calculate weighted averages across a range of different BDM and Business Support attributes to identify the BDMs that were performing best in the areas that matter most to the advisers they were servicing. This, along with overall satisfaction ratings, is how the Most Valued BDM Award winners and finalists were determined.”
Dr Sheils concluded, “It’s important to acknowledge that BDMs can and do make a profound difference to advisers. The Most Valued BDM of the Year Award, voted by advisers, is a great opportunity to identify and shine a spotlight on the valuable work BDMs do to support their advisers and represent their insurers.”
The finalists for the Most Valued BDM of the Year Award were: