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AFA and Beddoes Institute announce winners of 2018 Consumer Choice Awards

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AFA and Beddoes Institute announce winners of

2018 Consumer Choice Awards

 

SYDNEY: 15 November 2018 – OnePath is the overall winner of The Association of Financial Advisers (AFA) and the Beddoes Institute 2018 Consumer Choice Award.

 

ClearView was runner-up for the overall Consumer Choice Award.

 

Winners of the Consumer Choice Awards (the Awards) are based on findings from the 2018 Beddoes Institute Policyholder Perceptions Study and Claims Customer Journey Study and reveal the life insurance companies that deliver superior product, service and claims experiences according to life insurance customers themselves.

 

Now in their third year, the Awards offer people who hold life insurance via financial advisers (policyholders) and people who make claims (claims customers) on those policies, the opportunity to evaluate their experience and in so doing inform future product, service and process development.

 

The Awards also recognise insurers who are delivering outstanding outcomes to consumers in specific areas, via the Policyholders Awards and the Claims Choice Awards. The winners and finalists in these categories are:

 

Policyholder Awards

                                                                    Winner                                            Finalist                        Finalist  

Value for Money                                         AIA Australia                                  CommInsure              ClearView

Best New Customer Service                      ClearView                                        MLC                          OnePath

Most Satisfied Customer                            ClearView                                       OnePath                      Zurich

 

Claims Choice Awards

                                                                     Winner                                            Finalist                         Finalist

Best Application Process                              ClearView                                       OnePath                         BT Financial Group

Best Turnaround Time                                   OnePath                                          AMP                              ClearView

Best Claims Staff                                          ClearView                                       BT Financial Group       OnePath

Return to Health and Wellness                     BT Financial Group                       OnePath                            AMP

Focus on Early Intervention                        BT Financial Group                       ClearView                          AMP

 

AFA CEO Philip Kewin said the AFA is pleased to bring the voice of consumers to the advice community via the Awards. “The experience of consumers helps identify the insurers who are exceeding expectations, which in turn helps the industry as a whole to continue to raise product and service standards."

 

Director of the Beddoes Institute, Dr Rebecca Sheils said that, “In these awards, once again policyholders and customers accessing cover with the assistance of skilled advisers have identified insurers that have excelled over the last year.  In addition, with the help of four years of consumer data insurers are now able to better predict the outcomes for customers on claim enabling them to improve their processes and allocation of resources when servicing them in the future.  It’s an exciting time for the sector.”

 

For more information on the Consumer Choice Awards, visit www.consumerschoice.org.au

 

Media Contacts

Julie Bennett

64 Media

Mob: 0407 071 121

Email: julie@64media.com.au

 

For more information about the research, please contact:

Dr Rebecca Sheils

Beddoes Institute

Tel. 61 3 8862 4762

Email: rebecca.sheils@beddoesinstitute.com.au

 

About the AFA

The Association of Financial Advisers Limited (AFA) has been the authentic voice on the value of financial advice for over 70 years. Today, the AFA is a vibrant, innovative association, where the underlying driver of policy is the belief that great advice transforms lives. To this end the AFA is striving to achieve the vision of Great Advice for More Australians. The AFA consumer initiative Your Best Interests helps Australians to increase their understanding of financial issues and the life events where financial advice can improve their health, wealth and well-being. The AFA’s ongoing relevance as a professional association is derived from its success in engaging with the major stakeholders in financial advice including advisers, consumers, licensees, product and service providers, the regulator and government. Culturally the AFA believes in the value of collaboration to create powerful outcomes and this drives how the AFA achieves influence and works towards its vision.

www.afa.asn.au   

 

About the Beddoes Institute

The Beddoes Institute has been in business since 2006 and has a long history of benchmarking and research in financial services. It is not owned by any of the stakeholder groups it assesses.  The Beddoes Institute seeks to support continuous business improvement, provide education and recognise excellence through internal performance reports, industry white papers, presentations and awards programs.  The founders of the Beddoes Institute have designed and managed some of Australia’s most important life insurance company benchmarking programs and have been involved in research and benchmarking for 15 years across many industry sectors.

www.beddoesinstitute.com.au