Risk Insurance Benchmarking Report has been updated to assist Australian Financial Services Licensees (Dealers) with information about life insurers, their products and the service they offer to Licensees and their Authorised Representatives (Advisers). 

The methodology brings together information on diverse areas of Life Companies and their performance (Benchmarking Factors).

Plan for Life provides research and compares each company’s abilities or performance for:

  1. Financial Strength
  2. Premium Rate Strength (including Rate Consistency)
  3. Product Feature Strength (including Product Consistency)
  4. Service Strength (responses to customer service survey)
  5. Market Strength, including Sales, In Force and Retention

Companies covered in the Report include: 

AIA,  AMP, Asteron, MLC Protectionfirst, AXA Australia, BT Insurance, CommInsure, OnePath, Macquarie Life, Noble Oak Life, MLC, TOWER, Zurich Australia.

 

Dealers are able to customise the benchmarking by adding their own weights to the factors, thereby creating a customised Report, which reflects the Dealer's own view of the importance of each factor.

Plan For Life does not rate the companies in any absolute sense but provides relative scores (Benchmarking). In this approach, either the company that achieves the highest on any single measure receives the best score, the next best company the next best score etc., or scores are allotted according to a range of accomplishments.

For further information and samples contact:

Rael Solomon
Manager Marketing & Product Development
Phone: +61 3 9886 4400
Email: rsolomon@planforlife.com.au

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