Zurich emerges as big winner in direct life awards
Zurich Financial Services has won this year’s Plan For Life direct life insurance excellence award.
In the product categories, Zurich also won the term life award for its Ezicover Life offering.
NobleOak Life won the total and permanent disability award, while CommInsure took the trauma standalone prize and AIA Australia the trauma rider award for RAC Life Protect.
OnePath took the accident cover award, while the income protection prize went to TAL Life for Virgin Life Income Protection.
Suncorp received the funeral cover level premiums award for GIO’s insurance, and the funeral cover stepped premiums prize for its APIA product.
CommInsure took out the consumer credit award.
Zurich also won the customer service award for life companies, and MetLife received the marketer customer service prize for Coles Life Insurance Plus.
The innovation award went to TAL for work on InsuranceLine during the past three years.
Plan For Life Actuary Simon Solomon says the direct life market continues to grow, not only in terms of sales but also its range of products.
“During the past five years it has matured to the point where it now has the ability to meet [many] needs of consumers who prefer to select life insurance themselves,” he said.
“Plan For Life is continuing to develop its benchmarking research in this market sector, thereby clarifying the key elements of both the life providers and their products.”