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AFA names winners of Consumer Choice Awards

The AFA has announced the winners of the inaugural Consumer Choice Awards, which recognises life insurers with the best customer ratings.

The event was held on Tuesday and in conjunction with Beddoes Institute, according to a statement.

BT Financial Group won three top awards, including ‘Most Recommended Company’ and ‘Best Total Customer Experience’. ‘Honouring Commitments’ went to One Path and BT.

The awards are based on customer ratings from more than 2,100 consumers across all major life insurance companies, the statement said.

AFA chief executive Brad Fox said the Consumer Choice Awards are important so that the public can voice opinions on certain 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,” he said.

Beddoes Institute’s Dr 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.”