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BENCHMARKING: CURRENT BENCHMARKING    

The annual FIA Awards celebrates those insurers with an exceptional mix of products, service and relationship quality.

FANews June 2012
Advisors’ favourite product providers honoured at FIA 2012 Awards



The Financial Intermediaries Association SA (FIA) 2012 Awards offer a perfect opportunity for advisors to rate both the service they receive from product providers and the value their product bring to the table. Providers, in turn, can establish how they measure up against their peers at various stages of the product lifecycle.

To find out who intermediaries rate as “best of breed” in the various product provider categories, we joined 1000-plus industry stakeholders at the FIA 2012 Awards gala banquet.

The magic of the award is that the intermediaries – those working at the proverbial coalface of the sector – get to decide the winners and they are:

Short-term Insurer of the Year – Personal Lines: Santam

Short-Term Insurer of the Year – Commercial Lines: Santam

Short-Term Insurer of the Year – Corporate: Etana

Underwriting Manager of the Year: HIC

Long-Term Insurer of the Year – Risk Product: Altrisk

Investment Product Supplier of the Year – Retail Investments: Sanlam

Long-Term Insurer of the Year – Recurring Savings: Discovery

Employee Benefits Product supplier of the Year: Sanlam

Health Care Product Supplier of the Year: Discovery

In pursuit of service excellence through 2013 and beyond

The FIA 2012 Awards recognises product providers that meet the rigorous standards demanded of them by extending excellent service to the advisory and market-leading value to the end consumer.

FAnews would like to congratulate each of the winners and wish them every success in further improving their product and service offerings to the financial intermediary through the remainder of 2012 and beyond!

Received from the FANews 8 June 2012

The FIA 2012 Awards announcement is the culmination of a lengthy selection process to determine which of South Africa’s product providers are rated “best in class” by the financial intermediaries they represent. It is an opportunity for the financial professionals at the coalface of the industry to acknowledge the companies and brands that assist them to trade profitably and show value to their clients.

The intermediaries who spend each and every day immersed in the “treating customers fairly” principles the regulators swear by, have a chance to tell the industry which providers are getting things right. And the winners walk away with the ultimate accolade for financial services product providers.

The value of consistent selection strategies

Consistency is among the many factors that distinguishes the FIA Awards from other industry accolades. Thursday’s awards ceremony is the 11th since inception, the fifth under the FIA banner, and the seventh compiled under the consistent methodologies of Bluestream Research. The group placed a staggering 23 000 telephone calls to assess 6 000 contracts (between intermediaries and product providers in the employee benefits, healthcare, insurance and investment industries) during a stringent eight-week assessment period.

A team comprising 10 call centre staff, a call centre manager and project manager carefully considered the perceptions, views, expectations, awareness levels and opinions of thousands of FIA members. Interviewees were asked to rate product providers in their different product categories based on product quality, service quality, relationship quality and overall satisfaction. Pieter Aucamp, executive director of Bluestream Research, believes the results will confirm both the detail and consistency of the selection process.

The FIA 2012 Awards recognise the contributions made by South Africa’s top product providers in the employee benefits, healthcare, insurance and investment space, with a particular focus on the needs and requirements of financial services intermediaries.

Categories contested in the FIA 2011 Awards include:

  • Short-Term Insurer of the Year – Personal Lines
  • Short-Term Insurer of the Year – Commercial Lines
  • Short-Term Insurer of the Year – Corporate
  • Underwriting Manager of the Year
  • Long-Term Insurer of the Year – Risk Product
  • Investment Product Supplier of the Year – Retail Investments
  • Long-Term Insurer of the Year – Recurring Savings
  • Employee Benefits Product supplier of the Year
  • Health Care Product Supplier of the Year


2011 FIA Award winners announced
Posted By Llani On June 10, 2011 (9:39 am)

10 June 2011: The winners of the annual Financial Intermediaries Association of Southern Africa (FIA) Awards for 2011 were announced last night (Thursday 9 June 2011) at a gala ceremony held at the Sandton Convention Centre in Johannesburg.

According to Brian van Flymen, recently elected President of the FIA, the awards provide intermediaries with the opportunity to recognise the leading product suppliers in the financial services industry. “These awards is an important tool with which the intermediary industry is able to pay recognition to, and honour, those providers in the industry who provide excellent service to clients via the intermediary channel.

Santam came out with top honours in two of the categories, winning short-term insurer of the year (Commercial) and short-term insurer of the year (Corporate) for the second consecutive time. Short-term insurer of the year (Personal Lines) was awarded to Hollard, while Commercial and Industrial Acceptances (CIA) won the accolade of Underwriting Manager of the Year.

Independent research company Bluestream Research was appointed to conduct a customer satisfaction survey among the FIA’s members with the three main criteria being assessments of product quality, service quality and relationship quality.

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Below is the full list of 2011 winners:

2011 AWARD CATEGORY WINNER
Short-Term Insurer of the Year – Personal Lines HOLLARD
Short-Term Insurer of the Year – Commercial Lines SANTAM
Short-Term Insurer of the Year – Corporate SANTAM
Underwriting Manager of the Year COMMERCIAL AND INDUSTRIAL ACCEPTANCES
Long-Term Insurer of the Year – Risk Product LIBERTY
Investment Supplier of the Year – Retail Investments STANLIB
Long-Term Insurer of the Year – Recurring Savings DISCOVERY LIFE
Employee Benefits Product Supplier of the Year SANLAM
Health Care Product Supplier of the Year DISCOVERY HEALTH


 


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