The life insurance industry has established its own Logie style awards for star products and services.
Research house Plan For Life (PFL) and the Association of Financial Advisers (AFA) have launched the Life Insurance Company of the Year Product and Service Quality Awards 2006.
"It is important that life insurance companies be recognised within the financial services and broader community for the work they do in producing appropriate, contemporary insurance products and services for Australians." PFL managing director Simon Solomon said.
The new annual awards will rank life insurance companies in product and service quality according to benchmarks developed by PFL and AFA.
AFA chief executive officer Richard Klipin said the awards would also recognise the financial advisers who provide quality insurance services.
The life insurance company of the year will scoop a platinum award. Product of the year award categories are: term/TPD, trauma and income protection. Service awards categories are: underwriting and new business services, claims services and business support.
