Media releases

Asteron named CoreData 2010 Life Company of the Year

Asteron has been named CoreData 2010 Life Company of the Year for the second year running.

The award was based on a survey of more than 840 advisers, financial planners and risk/insurance specialists, and looked at advisers’ overall satisfaction levels with their main and secondary life risk provider across a number of measures. CoreData’s study benchmarked the strengths and weaknesses of Life Risk manufacturers against each other. It also measured their attitudes and commitment to advisers and planners.

CoreData’s award was based on 11 core areas of service delivery, including:

1. New business - submissions
2. New business - underwriting
3. Overall end-to-end new business processing
4. Post-sales administration
5. Call centres and communications
6. Claims
7. Product Offer
8. Commissions
9. Business development support
10. Education and support
11. Image and reputation

Asteron was named the overall winner based on an assessment of the industry’s major life insurance companies across these categories.

Commenting on the accolade, Asteron’s Executive General Manager Jordan Hawke said: "Asteron is delighted to have won this award. This is such a strong indication of the support for Asteron shown by those advisers and planners who use us as their main risk provider.

"We recognise that we must continue to deliver an exceptional experience through the entire process, from submission of the application to claims."

"With our recent improvements to our underwriting requirements, and our ongoing enhancements to our Asteron Life! health and wellbeing program, we’re continuing to focus on aligning our business to support the independent financial advisor."

CoreData’s Head of Advice & Superannuation Research Kristen Paech said: "Asteron has won this award for the second year running since the research began in 2008. Asteron’s success this year comes down to consistency across all service levels measured in the research, particularly new business submissions, overall end-to-end business processing, post-sale administration, and call centres and communications.

"With nearly half of advisers (48.8%) expecting to increase the amount of insurance written with their main risk provider over the next 12 months, the rewards for insurers in maintaining high levels of service are likely to be significant."

CoreData’s study looked at risk/insurance providers who offered products such as income protection, trauma, term life, TPD (Total Permanent Disablement), and business insurance.

 

For further information, or to interview Jordan Hawke or Kristen Paech, please contact Helen Han, Suncorp Life Corporate Affairs on: 0457 535 639.

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Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website www.asteronlife.com.au/privacy to view or download the policy.

Suncorp supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email info@fsc.org.au or visit www.fsc.org.au