The AFA has revealed the winners of the inaugural Consumer Choice Awards, which recognises life insurers with the best customer ratings.
The event was held jointly with Beddoes Institute last Tuesday.
BT Financial Group won two top awards, including Most Recommended Company and Best Total Customer Experience, while the Honouring Commitments gong went to One Path and BT.
The winners were decided based on customer ratings from more than 2,000 consumers across all major life insurance companies, the AFA said in a statement.
AFA chief executive Brad Fox said the Consumer Choice Awards allow the public to voice opinions on insurers.
“All parties – insurers, advisers, and product manufacturers – need to call out actions that don’t reach the highest standards and not wait for the media or consumers to call them out,” Mr Fox said.
Beddoes Institute’s Rebecca Sheils added, “We saw a gap between perceptions of customers and the experience of claimants, and we believe these awards and our research go some way to addressing this.”