The Life Insurance Company of the Year is BT, according to Plan for Life and the Association of Financial Advisers, who held their annual awards event last night in Sydney.
Outstanding service quality and product features are among the criteria for the AFA / Plan for Life Awards, and the judges’ decisions are based on independent and objective actuarial research.*
Phil Hay, BT's head of life insurance, said: “It’s an honour to be awarded by advisers and the independent judges at Plan for Life. Congratulations to the life insurance team for this outstanding recognition. Our people have all worked so hard to deliver what’s best for customers, and are continually looking at how we can provide better support to advisers – a well deserved win.”
In addition to being named the Life Insurance Company of the Year, BT also won the awards for Claims Management Team of the Year and for best Risk Product - Income Protection.
BT’s claims team has consistently achieved outstanding ratings under various benchmarking surveys, including being twice awarded an A* rating from C-MAP and top rankings for service quality under the Plan For Life Risk Benchmarking Report.
A recent highlight for the claims team is the launch of the industry-first health outcome measure in June 2015. The tool tracks the progress of customers as they participate in rehabilitation programs on their journey to wellness and re-entering the workforce. It allows BT to gain a greater understanding of how its customers recover, so that they receive appropriate support.
“BT is focussed on delivering improved products and services that are relevant to customers’ and advisers’ needs. Our goal has been consistent throughout the years – to achieve meaningful innovation, whether through our claims management, underwriting or product features – and I’m very pleased that our industry has recognised our efforts,” Mr Hay concluded.
* The Life Company of the Year award is based on three benchmarking reports issued by Plan for Life. These reports assess insurance providers’ financial strength, product features, service quality, premium rates and market performance. In addition, advisers vote on service measures.
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
Media release (PDF 129KB)