TAL has again taken out the top honours in the Plan for Life/AFA 2020 Life Company of the Year Awards, the fourth year in a row the company has been awarded the Platinum title.
The Platinum Award runners up for the 2020 Life Company of the Year are:
- AIA Australia
- MLC Life Insurance
- NEOS Life
Notably, in the Underwriting Team of the Year category the winner, NEOS, and the two finalists, Integrity Life and MetLife, are either new entrants or a recently returned entrant to the retail life insurance sector.
AFA National President Michael Nowak congratulated TAL on being awarded the title ‘2020 Life Company of the Year’ and also paid tribute to the runners up “…and all the winners and finalists in other categories who have truly stepped up in an extraordinarily difficult environment”.
“These companies have risen to meet the challenges presented by the current pandemic and continue to deliver superior products and services to financial advisers and their clients,” he says.
AFA partners with Plan for Life, Riskinfo and Beddoes Institute on the Life Company of the Year Awards, which celebrate excellence in service, product and support delivered to advisers and their clients. The awards are the leading annual recognition for retail life insurers, annuities and investment bond providers in Australia.
Plan for Life provides the benchmarking research for the life insurance, annuity and investment bond product awards and its Regional Managing Director, Rael Solomon, said that while 2020 was a difficult year for the life insurance market “…life insurers have continued doing their best to support advisers through increased training efforts, maintained high levels of service for both advisers and customers and kept a high profile through advertising their products”.
In the Client Service Team Awards, NEOS won both the Underwriting Award, and the BDM/Business Support Award, while OnePath took home the Claims Award. Beddoes Institute’s Adviser Survey underpins the three key team-based awards.
Rebecca Sheils, Director of the Beddoes Institute, said that its research findings from financial advisers indicate that the new insurers have made significant gains across Underwriting and their BDM teams.
Platinum winners since the inception of this Award have been:
2019 TAL
2018 TAL
2017: TAL
2016: BT Financial Group
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
runner-up MLC hahahahaha!!!!!! unbelievable. Guess these awards are a complete joke
Why was Celine’s comment removed? There is a strong correlation between research revenue and the awards. It is quite literally their business model.
But of course, all actors in the industry pretend that somehow they are working in the clients best interest and try to pretend their snout is not in the trough.
Except the insurers – they have forgotten that businesses are meant to make money. Time for a government hand out? Ask Gerry Harvey how.
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