Life insurers should allow independent assessment of their claims over the past year to ensure future customer satisfaction, according to industry researcher the Beddoes Institute.

Interim results from the institute’s Claimant Journey Study show three of the biggest life insurance companies have done this.

The study rates income protection claimants’ satisfaction with insurance companies at 80%, with the strongest-performing insurer at 85%.

Satisfaction among individuals who made trauma or total and permanent disability claims is 84%, with the top insurer scoring 90%.

Institute director Rebecca Sheils says the aim is to build a large body of evidence about claimants’ experiences, rather than focusing on the opinions of just a few.

“We need to use this data to really understand claimants’ needs at different stages of their journey,” she said.

“Then life companies can develop tailored services and solutions that deliver better outcomes for people on claims.

“It’s all about giving the consumer a voice and placing them at the centre of new and improved models of claims service delivery.”

Meanwhile, the institute and the Association of Financial Advisers (AFA) have launched their inaugural Consumer Choice Awards, to encourage better customer service from life insurers. 

The awards will be based on the institute’s study of more than 2000 policyholders and claimants in March and April.

Commendations will be announced this week, with the main awards to follow in November.

AFA CEO Brad Fox says the awards aim to improve policyholders’ experiences.

“We know that consumers who arrange their life insurance through a financial adviser already have a considerably better claims experience than those who rely on direct and group insurance,” he said. “But the bar can be raised even further.”