CommInsure was awarded the Platinum Life Company Award at the Association of Financial Advisers (AFA)/Plan for Life 2009 Life Company of the Year Awards in Sydney on Wednesday.
CommInsure also took out the Service Quality Award, the best Trauma Product Award and the best Investment Bond Award, and was also a runner up for both the Income Protection Award and the Life Cover and TPD Award.
AFA chief executive Richard Klipin said while it was the adviser’s job to encourage clients to have protection in place, it was the job of the life companies to ensure the products they manufactured measured up and the service they offered was delivered.
“While we were impressed by many of the industry players, in 2009 it was CommInsure that outshone and outperformed its competitors in both product manufacture and service delivery,” Klipin said.
New awards this year were the Product Innovation Awards for Life Insurance and Retirement Income, won by MLC and ING Australia respectively, he said.
Other companies recognised at the ceremony included Axa Australia, which took out the Life Cover and TPD Award, and AIA Australia, which took out the Income Protection Award.
Tower Australia took out the Products and Premiums Award and Challenger was named Annuity Provider of the Year.
Plan for Life’s Simon Solomon said the awards were a result of a rigorous quantitative and qualitative analysis process, which included feedback from advisers on the front line.
