Financial advisers have named Zurich Financial Services Australia the best provider of life risks in the country for the third consecutive year, but competition between providers is tighter than ever.

The WA Taylor report – commissioned by life insurers and fund managers to survey more than 1300 financial services intermediaries – gave Zurich a five-star rating. It is the only one to be given for “overall satisfaction” in the life risk area.

But WA Taylor Technical Director Peter Driscol told Sunrise Exchange News the results between the life insurers involved – including Zurich, Asteron, Aviva, AMP, Axa, AIG, ING, CommInsure, MLC and Tower – were tighter than ever.

“The range of scores was very close. What the scores really showed is the tight competition between providers and how difficult it is for them to differentiate themselves.”

The report is divided into two areas: a client report, which includes a selection of advisers nominated by each participating financial services company; and an industry report, which extends to all intermediaries nominated by all survey participants.

Zurich was ranked No 1 overall, as well as top of its game for life risk, administration services, image and reputation, and communications.