BT Financial Group’s Head of Life Insurance, Phil Hay, has won the Australian Insurance Industry Insurance Leader of the Year Award, presented during the 11th annual insurance industry awards ceremony in Sydney last night.
Hosted by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and founding partner Asia Insurance Review (AIR), the awards recognise best practice and achievements in the Australian insurance industry.
The award recognises an individual in the industry who has demonstrated outstanding leadership qualities of benefit to the insurance industry, the community, and people within their own organisations.
Mr Hay is known for his focus on customer centricity, people, relentless innovation and long term sustainability. He aims to lead a business driven by a ‘Higher Purpose’ with a clear understanding of what motivates his people, customers and business partners, where people want to work and understand the importance of what they do every day and how it makes a difference to customer lives.
“I’m honoured to be working in such an important and life changing industry that provides financial comfort to people in their time of greatest need,” Mr Hay said. “I am also incredibly humbled to receive this award, as the work that we do at BT is a joint effort. I’m thankful that we have such a strong and dedicated team, who go above and beyond to support our customers, day in and day out.”
BT Life Insurance has shown continued focus on being there for the customer when it counts, particularly during claim time; BT has achieved the highest possible rating for its claims servicing, a C-MAP A* rating, twice in a row. The independent review singled out BT’s unique tele-claims experience for income protection and some trauma claims as a highlight in its service offering.
Mr Hay has been an advocate for greater transparency in the industry, encouraging life insurers to collaborate on establishing a benchmarking process, to improve consumers’ trust in the industry and their perception of the value of life insurance. Mr Hay also commissioned research and worked with the AFA to produce a white paper on the misconceptions and experiences regarding claims.
“Putting the customer at the centre of everything we do, and making the customer experience as transparent, simple and accessible as possible, will engender trust among the community we serve, and help our industry tackle issues such as underinsurance,” Mr Hay said.
Among many achievements while at BT Financial Group, Phil was awarded the Inaugural Pioneer Award at the FSC Life Insurance Industry Awards in 2013, for his commitment to innovation. He has served as a committee member on the Financial Services Council Life Board Committee, and chaired the LBC Industry Data and Experience Studies Working Group.
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BT has been helping Australians prepare for the best since 1969. Its reputation is built on its expertise in superannuation, investment, insurance and advice. www.bt.com.au
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