CommInsure is the standout performer in the 2009 Life Company of the Year Awards.

Last week the insurer took out the big one – the Platinum Life Company Award – as well as the awards for service quality, best trauma product and best investment bond. It was also a runner-up in income protection and for the life cover and total and permanent disability (TPD) award.

The annual awards were jointly presented in Sydney by the Association of Financial Advisers (AFA) and actuaries Plan For Life.

Axa Australia won the life cover and TPD award while AIA Australia snared the income protection award.

Tower Australia won the products and premiums award and Challenger was named annuity provider of the year.

Newly introduced awards were won by MLC for product innovation and by ING Australia for life insurance and retirement income.

Comminsure has won the best trauma product award for three years in a row, an honour Plan For Life MD Simon Solomon attributes to having the highest score across the board in premium rates, definitions, financial score (free reserves over the prudential requirement), market share (and how it has progressed) and results from a detailed survey of 500 advisers, dealers and development managers.

He says life insurance companies have lifted their game in recent years.

“I think, generally speaking, the companies have become more responsive to criticism, whereas in the past they would have just shrugged it off,” Mr Solomon told insuranceNEWS.com.au.

“There have been some clear signs of companies really trying quite hard. Comminsure and Axa are good examples.”