Tower’s need for speed wins gold
David Callander
For the second year running, Tower Australia has been named the nation’s number one insurance provider, scooping gold in the Risk Company of the Year category of the Money Management/Dexx&r Adviser Choice Risk Awards.
Attributing its win to the high level of adviser support it provides, the insurer also took out first place in both the Term and Total and Permanent Disability (TPD) Product and Disability Product categories of the annual awards.
According to Tower chief executive of retail life David Callander, evolving both its products and service offerings is the driving force behind the company maintaining its top position.
Specifically, a raft of initiatives have been introduced to make it easier and faster for advisers to place business with Tower, which includes working with underwriters to ensure claims are finalised quickly.
“Essentially, we are trying to make it as open and simple for someone to make a claim, rather than restrict the way in which they can make that claim,” Callander said.
Following behind Tower in the overall award of Risk Company of the Year was CommInsure, which took home silver, and Zurich, which received bronze.
ING Life Risk was awarded silver in the Term and TPD Product category, with AIG Life taking out bronze.
AIG, however, proved to be the dominant force in the Business Overheads Product category, followed by Suncorp and AvivaAustralia.
In terms of trauma products, CommInsure was deemed the number one insurer, with Asteron and AXA receiving silver and bronze respectively.
Zurich came in directly behind gold medal winner Tower in the Disability Product category, with Asteron taking out bronze.
Determining the winners involved a thorough process employed by independent researcher Dexx&r, which included the input of an adviser panel.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
