WITH THANKS TO OUR
SPONSORS
PRESIDING JUDGE’S MESSAGE
On behalf of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), welcome to the 2024 Australian Insurance Industry Awards. Now celebrating its 20th year, this event is dedicated to honouring the remarkable accomplishments of individuals and businesses within the Australian insurance sector, and to celebrating our shared successes.
This night is our opportunity to reflect and celebrate the significant contributions you’ve made to the Australian insurance industry and wider public. The submissions for each award category showcase the strides being made across the industry to foster a culture that exceeds customer needs and expectations. The finalists should be extremely proud of their achievements, and their role in elevating the professional standards of the industry.
I would like to thank the judges for their time and dedication in evaluating the awards, which attracted a total of 100 submissions this year.
I would also like to thank our sponsors, who have made this event possible through with their generous support and contributions. Thank you to the organising committee for their time spent creating this event, to our Corporate Supporters for their sponsorship of ANZIIF, and to our cofounding partner, Asia Insurance Review.
Lastly, I would like to thank the individuals and businesses who submitted entries. Your achievements have been remarkable, and you should take pride in them.
Thank you for helping us once again recognise and celebrate the finest talents in the Australian insurance industry.
KATRINA CEO, ANZIIF
2024 JUDGING PANEL
KATRINA SHANKS CEO
ANZIIF
Katrina is the CEO of ANZIIF, where she leads the organization in its mission to raise professional standards within the insurance industry through education and professional development. Katrina has spent much of her career in financial services. A Chartered Accountant by trade, she started her career in Audit, spent time at Newton Fund Management in London and then joined Westpac Trust. She has owned her own small accountancy business for seven years, after which she was the Financial Controller for the New Zealand National Party. Katrina has a deep understanding of the legislative process and policy development, drawn from her experience as a two-term Member of Parliament. Katrina has considerable experience leading membership bodies working with regulatory change and creating public awareness. Katrina was the CEO of Financial Advice NZ for five years. In this time the organisation became the voice of the financial advice sector and influenced significant legislative and regulatory change.
JENNY BAX
CEO
Underwriting Agencies Council
With 30 years in the general insurance industry and 20 of those years in Senior Management and Leadership roles,
Jenny is a highly driven and strategic senior executive who is a founding member and the current Chair of ANZIIF’s General Insurance Faculty Advisory Board. A practicing Certified Insurance Professional, demonstrating a lifetime commitment to study and ongoing learning has seen Jenny achieved a Graduate Diploma in Insurance and a Master of Business Administration from Deakin University. Jenny has worked for several leading insurers in a variety of operational and management roles both in Australia and overseas.
Jenny is the inaugural Chief Executive Officer at the Underwriting Agencies Council and passionate about shaping the future of UAC and delivering its members a road map for success.
STEPHEN BROWNE Independent Consultant
With an international background in business and technology, Stephen has delivered insurance solutions to the Australian, New Zealand and U.S. markets for more than 35 years. His focus on identifying core solutions for organisations and assessing appropriate delivery models has ensured the most strategic outcomes for his clients. This included delivering large multi-country solutions such as customer-facing systems, business process solutions and systems of record, assessing business requirements and appropriate packages/solutions and ensuring cost-effective solution delivery. Stephen has held senior roles as Country Manager and Director Insurance for the likes of global outsourcers, systems integrators and insurance software companies in Australia, UK and the U.S.A. Current consultancies include merger and acquisition activity, insurance technology analysis and reviews, executive coaching, business success consulting, sales coaching and mentoring (incl. recruitment), insurance market research & non-executive board roles.
ANDREW DAVIES
Chief Executive Officer
VMIA
Since joining VMIA in 2015, Andrew has led the continued development of VMIA’s risk and insurance offering, and, formerly as Chief Insurance Officer, was responsible for the Authority’s insurance, reinsurance, claims and insights activities. With a background in management consulting and change leadership and having worked globally in executive roles across a diverse range of industries, Andrew brings clear strengths in transformational leadership, a detailed appreciation of VMIA’s operations and a passion for delivering real value for the state of Victoria.
LUKE DAVIES
General Manager –
Professional Standards
ANZIIF
Luke is the General Manager of Professional Standards at ANZIIF and is responsible for the delivery of education and membership services, as well as establishment of ANZIIF’s Professional Standards framework.
In his 15+ years at ANZIIF Luke has held a variety of different roles and led many significant initiatives, focusing on customer engagement and the development of insurance professionals. Luke holds a Master of Enterprise (Executive) and a Bachelor of Environmental Science.
SIMONE DOSSETOR CEO
Insurtech Australia
MEGAN DUCKWORTH
Underwriting Development Manager
360 Underwriting Solutions
Simone is the CEO of Insurtech Australia, a national not-for-profit organisation with a vision to create a world leading insurtech ecosystem which aims to foster a diverse community of insurance innovation and collaboration across the Australian insurance industry. An experienced leader in the insurance industry, Simone has held senior executive roles in both Australia and the UK and also has management consulting experience. Her previous role was that of Chief Operating Officer for Munich Re in Australasia. Additionally, she has been a Non-Executive Director of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) since August 2018.
Megan is currently the Underwriting Development Manager at 360 Commercial. With over 15 years’ experience in the industry, Megan has worked across various roles in Underwriting, Claims, Operations, Distribution, eBusiness Solutions and Broking. Prior to starting at 360 Underwriting Solutions in 2023, Megan was the co-Founder and Head of Sales and Underwriting at Mitti Insurance, winners of the 2022 ANZIIF Australian Insurance Industry Award for Insurtech Start Up of the Year.
SUZI LEUNG
Chief Commercial Officer
Hollard Insurance
CCI
With 20 years’ experience in financial services and law, Suzi is currently the Chief Commercial Officer for Hollard, overseeing portfolio, product, underwriting, pricing and distribution for Australia and New Zealand. Previously, Suzi held executive roles within Zurich Financial Services Australia in operations and claims, both in General Insurance and Life Insurance. Suzi holds Bachelor of Law and Bachelor of Business degrees from the University of Technology, Sydney.
RACHEL MAGILL
Head of Events
ANZIIF
GABRIELE MCDONALD
CEO & Managing Director
Protecsure
Rachel Magill is a seasoned events professional with over a decade of experience spanning management, marketing, and hospitality. In her current role as Head of Events at ANZIIF in Melbourne, Rachel combines her flair for building relationships with her knack for orchestrating top-tier events. Her journey includes spearheading the successful Minesafe Conference at AusIMM and managing high-profile events across Europe, the Middle East, and the Americas with Euromoney Seminars. Rachel holds a Bachelor of Communication Studies from The University of Waikato, where she honed her public relations and media skills.
Gabriele is CEO & Managing Director for Protecsure, an underwriting agency located in Sydney that specialises in Equipment insurance for mobile assets and Liability for small businesses. With over 35 years’ experience in the insurance industry, Gabriele is a highly accomplished executive leader who holds expert knowledge in intermediary and underwriting agency business procedures and practices. Gabriele demonstrates her ongoing commitment to the industry by her continued involvement in mentoring programs and the ANZIIF Awards judging panel. Gabriele is a Tier 1 Qualified Insurance Broker, Certified Executive Coach and AICD Member.
KARA MCINNES
National Claims Service Manager
CHU Kara joined the insurance industry in 2011 and is the National Claims Service Manager at CHU Underwriting Agencies. She is a leader who is passionate about the growth and development of professionals within the industry and is currently completing her MBA with the Australian Institute of Business.
In 2020 Kara was named by Insurance Business as a young gun and in 2021 Kara participated in the NIBA mentoring program as a mentor. She enjoys giving back to the industry serving on ANZIIF boards and committees.
VICKI MULLEN
Senior Consultant
Finity
Vicki Mullen has nearly 30 years’ experience in public policy and financial services. She has worked for two large insurers. She has also held senior roles with the Insurance Council of Australia, the Financial Services Council and the Actuaries Institute. Vicki also worked for nearly three years as an Ombudsman with the Australian Financial Complaints Authority. In her earlier career, she worked extensively within government, including roles with the NSW Parliament, the NSW Cabinet Office and a senior Minister. Vicki is a Senior Consultant with Finity Consulting providing services for clients in regulatory affairs. Vick holds a Bachelor of Arts and a Master of Laws degree. She is a Graduate of the Australian Institute of Company Directors.
JILLIAN PANCOTT
Director, Forensic Accounting Services Sedgwick
NATASHA QUIRK
Managing Director
Hall Advisory
MARK RYAN
Senior Business Development Director Melbourne Business School
Jillian has specialised in forensic accounting since 2007, in both Canada and Australia. She has focused on the quantification of economic damages for insurance and litigation purposes, presenting her findings to industry professionals and in market meetings.Her experience deals with the quantification of economic damages for business interruption and product liability & recall losses in both insurance claims and recovery proceedings. She has assisted with catastrophe response following the New Zealand earthquakes, Brisbane floods, Sydney ANZAC Day Hailstorm, and cyclones and ex-tropical cyclones in northern New South Wales and Queensland. Since 2014, Ms. Pancott has been a member of the AILA Young Professionals subcommittee, held the position of NSW Treasurer for AILA in 2018 and since 2020 has served on the AILA National Executive Board as Treasurer. In 2019 she was awarded the Young Insurance Professional of the Year award from ANZIIF at the Australian Insurance Industry Awards.
Natasha is currently the Chief Risk Officer and Company Secretary of Eric Insurance.
Natasha is also the founder of Hall Advisory, a boutique governance, risk and compliance consulting practice.
Natasha has close to 20 years of experience in the financial services sector, with extensive practical expertise in risk management and regulatory compliance.
Natasha is experienced across all sectors in financial services, including insurance, superannuation, banking and finance, financial advice, investments, credit ratings and financial analytics.
Natasha holds an MBA (Executive), Master of Applied Finance, Master of Insurance and Risk Management, Bachelor of Commerce (Finance and Economics) and certification as a Professional Risk Manager (PRM).
Natasha is a Fellow and Certified Insurance Professional (CIP) of ANZIIF, a Graduate of the Australian Institute of Company Directors (GAICD), and a Sustaining Member of the Professional Risk Managers’ International Association (PRMIA).
Mark is an accomplished education specialist who has been extolling the impact of professional development on organisations and individuals for over 20 years. His career journey spans various roles in all facets of insurance, risk and higher education in the VET and University sector. Highlights of his career included lobbying for government funding for education and insurance, implementing the benefits of the ANZIIF-NIBA Agreement with brokers around Australia, leading the response and execution of the Australian Government’s Cyber Security Skills Partnership Innovation Fund and working as an RMIA Non-Executive Director. Currently Mark works with Australian and international Governments to provide customised executive education programs at Melbourne Business School. Outside of work, Mark enjoys advocating for gender equality, championing men’s health, walking coffee meetings, and paying back some of the leadership and mentoring he received to help others fulfill their goals.
MARK SILVEIRA
General Manager, Industry Engagement
ANZIIF
Mark is known as a highly innovative, strategic business relationship development professional, with a successful background in general insurance and financial services, not-forprofit and commercial business sectors of over 40 years.
In addition to his position as General Manager – Industry Engagement for ANZIIF, he has also held roles such as Head of Sales for TravelCard Australia; General Manager of Coveright Insurance Brokers; National Sales Manager for GE Premium Funding; CEO of AR Group AFMA IAAA; National Sales and Marketing Director of OAMPS and General Manager of the Steadfast Group at its commencement.
In recent times, he has also become known for his voluntary work as the cofounder and host of the podcast series –Business Made Personal.
REBECCA
SLINGO
General Manager, Education ANZIIF
Rebecca is the General Manager, Learning at ANZIIF and has been an L&D practitioner for more than 26 years. Leading learning functions across a range of industries including publishing, broadcasting and law and more recently 17 years in the insurance industry. Rebecca has participated on various committees including a four year tenure as Treasurer of the Enterprise Registered Training Organisations Association (ERTOA) and has been an active member of the Financial Services Industry Reference Committee since 2019. Rebecca is a Fellow of the Institute of Learning Professionals and a Member of the Australian Institute of Training and Development.
SHAUN STANDFIELD
Managing Director, Australia & New Zealand IAA
Shaun Standfield is the managing director of Insurance Advisernet. A senior insurance executive with expertise gained from working for large insurance companies in Australia and across Asia, Standfield leads a large brokerage with operations in over 260 locations across Australia and New Zealand; the company places more than $1.3 billion of premium. The strength of Insurance Advisernet is also derived from their being a partner with ASX-listed AUB Group, who empower and support the team 100% in executing their strategic plans. Shaun has an active interest in the not-for-profit sector, having chaired the QBE Foundation in Australia & Asia and a long association with KidsXpress and in recent years with the Insurance Advisernet Foundation.
TIM YIP
Director and Actuary Taylor Fry
Tim is a Director at Taylor Fry, and has worked in the general insurance industry since 2012. He has extensive experience providing reserving, M&A, pricing and capital management services to general insurers, and currently holds an Appointed Actuary role. He also specialises in providing actuarial advice to corporate workers’ compensation self-insurers across all Australian jurisdictions. Tim is extensively involved with the Actuaries Institute, having sat on working groups around the Institute’s response to COVID-19, a Treasury industry consultation request, and the low interest rate (at the time) environment. He has assisted with providing peer review for the actuarial professional examinations, and was part of the taskforce responsible for the Actuaries Institute 15 year strategic plan (released at the end of 2021), and currently sits on the Young Actuaries Advisory Board. Tim’s passion is around giving high quality, pragmatic advice to his clients. And snowboarding.
TO THE 2024 AWARD WINNERS CONGRATULATIONS
Small Broking Company of the Year
TRADE RISK
Authorised Representative Network of the Year
INSURANCE ADVISERNET
Large General Insurance Company of the Year
ALLIANZ AUSTRALIA
Large Broking Company of the Year
AON
Underwriting Agency of the Year
Claims Team of the Year
Small-Medium General Insurance Company of the Year
Life Insurance Company of the Year AIA AUSTRALIA
Insurtech Start-up of the Year
SIMFUNI
Excellence in Workplace Diversity and Inclusion
ALLIANZ AUSTRALIA
Insurance Leader of the Year
ANDREW HALL
Professional Services Firm of the Year
FINITY
Service Provider to the Insurance Industry
GALLAGHER BASSETT
Excellence in Environmental, Social and Governance Change
CHU UNDERWRITING AGENCIES
Young Insurance Professional of the Year
DEMI PETERS
ANZIIF Lifetime Achievement Award
RICHARD ENTHOVEN
Thank you to our Corporate Supporters for your ongoing support
Protecting Professionals
SMALL BROKING COMPANY OF THE YEAR
Trade Risk
* Clear Insurance
* Moody Kiddell & Partners (Insurance)
* Trade Risk
* Vie Legal Insurance
Trade Risk takes home this year’s Small Broking Company of the Year award for the second time, having impressed the judges with its strong customer focus, people development and data analysis.
Based in Brisbane, Trade Risk serves over 4,700 business clients across each Australian state and territory. In 2023, Trade Risk achieved its highest-ever client satisfaction score with a 4.8/5 rating. This was also the company’s best year for client retention, with a notable retention rate of 97 per cent.
In 2023, Trade Risk overhauled its client renewal process, having determined that the company’s previous system was time-consuming and frustrating for clients. A new system utilising client data mapping was created to produce a smoother and more efficient renewal process, achieving a higher completion rate. As a result of this innovation, Trade Risk’s team was able to generate a 23 per cent higher revenue without an increase in head count.
The judges also commended Trade Risk for its dedication to the development and wellbeing of its people. Three years ago, the business created an entry-level role to allow young people
with no prior experience to be brought into the industry. In 2023, Trade Risk employed a broker and two assistant brokers by utilising this entry-level program. The judges noted that the initiative clearly demonstrates Trade Risk’s commitment to the talent and success of its staff.
Trade Risk’s devotion to its people’s happiness and wellbeing is evidenced by the company’s impressive performance in terms of workplace measures. For example, the business achieved an excellent 90 per cent staff retention rate in 2023. Additionally, over the past three years the company reduced staff turnover from 51 per cent to 28 per cent.
The judges applauded Trade Risk’s “This is a Conversation Starter” initiative, a free mental health support program for blue collar workers. Trade Risk’s work with this organisation showcases its genuine care and support for the wellbeing of the wider community.
Overall, Trade Risk was described as an inspiring business dedicated to the satisfaction and success of its people, clients and community.
LARGE BROKING COMPANY OF THE YEAR
SPONSORED BY
* Aon
* Marsh
It was a tough choice for the judges in this closely contested category, but ultimately, Aon was selected as the winner of the Large Broking Company of the Year for the second year in a row. The business has won this accolade by different names a total of ten times.
The judges were particularly impressed by Aon’s Cyber Property Damage (CYPD) policy, which provides cover for plant and property damaged caused by cyber-related issues where traditionally, it would not have been. Aon’s CYPD addresses the insurance gaps, providing an innovative insurance solution for businesses in the evolving cyber risk landscape.
Aon undertook several workplace programs through the year to support staff and create a welcoming work environment. Multiple wellbeing programs were provided to staff including an Employee Assistance Program, an Expert Medical Opinion service through Teladoc, cancer support through Osara Health, trained Mental Health First Aiders, and access to the WellOne app.
In addition, Judges acknowledged Aon’s commitment to talent development including the Global Elevation Program designed to
boost the careers of high performing female staff, and the Emerge, Catalyst, Global Catalyst and Pinnacle programs to develop the careers of non-management, mid-level seniors and executive leaders respectively.
The judges commended Aon for its strong, well-outlined environmental strategy, which is guided by the company’s Environment and Sustainability Advisory Committee. Throughout the 2023 financial year Aon actively worked to reduce its carbon footprint. 563 IT assets were refurbished and 477 were recycled saving a total of 151 tonnes of CO2 emissions. Additionally, the company partnered with Origin Energy to launch electric vehicle subscriptions for staff. It stopped the use of single use coffee cups in the Syndey and Melbourne office cafes and worked with Conservation Volunteers Australia to help regenerate local environments. Aon aims to achieve net zero carbon emissions by 2030.
Judges noted that Aon utilised and connected data well within their submission, showcasing the consistency between the company’s client satisfaction scores, client retention scores, net promoter score and employee satisfaction scores throughout the years of 2021-2023.
AUTHORISED REPRESENTATIVE NETWORK OF THE YEAR
Insurance Advisernet
SPONSORED BY
Insurance Advisernet was a standout winner for the judges in this category, for the sixth consecutive year.
The judges commended Insurance Advisernet’s ambitious ‘myLEARNING’ initiative, launched in 2023 with the aim of advancing professional standards within the insurance and broking industry. ‘myLEARNING’ is a platform offering a wide array of CPD training materials curated to encompass a variety of subjects relevant to the industry.
Insurance Advisernet delivered impressive customer satisfaction results for 2023, achieving a New Business satisfaction score of 96 per cent and an annual NPS satisfaction score of 97 per cent. The business onboarded a total of 59 new authorised representatives into its network and achieved a client retention rate of over 90 per cent demonstrating a genuine dedication to building client relationships and trust.
Insurance Advisernet provides a range of services with the purpose of attracting and retaining talent. One that particularly stood out to the judges was the STEPS program, created to support employee advisers as they transition to business owners and authorised representatives. Judges also noted the organisation’s outstanding zero staff turnover rate, a reflection of its welcoming and supportive work environment.
Throughout 2023, Insurance Advisernet actively demonstrated its support for the insurance industry and broader Australian community by contributing to various organisations and initiatives. For example, the judges pointed to the company’s corporate sponsorship of NIBA, ANZIIF and the Young Insurance Professionals (YIPs), as well as its participation in industry mentoring programs. Additionally, Insurance Advisernet’s foundation donated over $400,000 to various fundraising efforts including Beyond Blue, the Pancare foundation, Starlight Children’s foundation and more.
FINALISTS
* Community Broker Network
* Insurance Advisernet
* McLardy McShane Partners
* Resilium
UAC congratulates the Underwriting Agency of the Year.
UAC is THE Resource for brokers and THE Resource for its members, providing a range of services to help agencies build their businesses.
The Underwriting Agencies Council connects diversified specialist underwriting agencies, creating a focal hub at www. uac.org.au as an essential resource for brokers. For more information contact us at admin@uac.org.au.
UNDERWRITING AGENCY OF THE YEAR
SPONSORED BY
FINALISTS
* Blue Zebra Insurance
* CHU Underwriting Agencies
* Emergence Insurance
* Envest Direct Agencies (EDA)
* MECON Insurance
* NTI
* ProRisk
* UAA (Underwriting Agencies of Australia)
In this highly contested category, NTI ultimately emerged as the winner giving the business its second award in the 2024 ANZIIF Australian Insurance Industry Awards, namely Underwriting Agency of the Year and Claims Team of the Year.
Judges applauded NTI’s Merchant Delivery Insurance (MDI) product, launched in 2023 on the Shopify platform. MDI addresses the need for cover for high volume, low value shipments in the online e-commerce market, by taking care of returns and claims on behalf of retailers. MDI claims are settled with a replacement item within thirteen minutes of lodgement and refunds are issued within three minutes.
NTI was also recognised for its strong customer satisfaction and retention results, including an impressive 91.80 per cent customer retention rate and a 73 per cent satisfaction rating on NIBA’s Performance on Drivers survey, compared to the industry’s average of 49 per cent.
Employee health and wellbeing are a priority at NTI with its flexible and hybrid work environment, professional development and training
opportunities and NTI Nurture program. Judges noted NTI’s award for Best Health and Wellbeing Program at the Australian HR Awards as a testament to the company’s commitment to a supportive and healthy work environment.
The company’s environmental strategy was also praised, as NTI was an early adopter of the Insurance Council of Australia’s Guide to Net Zero Roadmap, which aims to achieve net zero carbon emissions by 2050. To accomplish this goal, NTI’s Sydney office now operates completely on renewable energy, and its Brisbane and Adelaide offices are held in six-star energy rated buildings.
Judges highlighted NTI’s Dairy Safety program, describing it as a very innovative collaborative effort between key stakeholders in the dairy supply chain. NTI produced a catalogue of multimedia training resources aiming to improve the safety of dairy tankers, which are 2.4 times more likely to be involved in a major accident. The resources were made available to the industry for free.
SMALL-MEDIUM GENERAL INSURANCE COMPANY OF THE YEAR
Adica Insurance
FINALISTS
* Achmea Farm Insurance
* Adica Insurance
* Royal Automobile Club of Tasmania (RACT)
This year’s award for Small-Medium General Insurance Company of the Year had many quality submissions, making a decision difficult for the judges. Adica Insurance ultimately emerged as the winner.
Adica Insurance is an Australian operated and regulated GI company responsible for underwriting and managing Toyota Insurance and Lexus Insurance for the Australian market since 1997.
Adica Insurance’s environmental objectives are closely linked to its business objectives. The Judges were impressed by their commitment to environmental strategy, particularly regarding the use of the Deloitte gap assessment tool to guide environmental procedures. Judges stated that Adica Insurance clearly understands the connection between insurance and sustainability.
Judges praised Adica Insurance for their Full-Service Lease (FSL) product, enabling customers to lease electric vehicles to reduce their personal carbon emissions. This innovation bundles servicing, insurance and other associated costs into a fixed monthly payment, allowing customers to conveniently make the
switch to an electric vehicle lifestyle. Judges found this product extremely innovative and well executed.
Data was incorporated well into Adica Insurance’s submission, demonstrating the company’s commitment to customer satisfaction and retention. Judges appreciated that Adica Insurance utilised multiple customer satisfaction measures (NPS, CSAT, NES and FCR), which added accuracy and reliability to the findings. In 2023, they achieved a post-call survey customer satisfaction score of 97.5 per cent, and a customer retention rate of over 90 per cent.
In 2023, Adica Insurance was recognised as the Employer of Choice at the Australian Business Awards, a testament to the company’s proactive approach to people and workplace development. Adica Insurance is also certified as a Family Inclusive Workplace, offering flexibility to staff with children. Additionally, the business offers a variety of wellbeing initiatives to promote the health of staff including onsite counselling, skin checks, fitness classes and a health insurance discount.
Steadfast is a proud sponsor of the Large General Insurance Company of the Year category
Steadfast congratulates all the winners and nominees of the Australian Insurance Industry Awards 2024.
LARGE GENERAL INSURANCE COMPANY OF THE YEAR
Allianz Australia
SPONSORED BY
* Allianz Australia
* CGU Insurance
* Chubb
* QBE Insurance
It was a close call for the Large General Insurance Company of the Year, as all the finalists presented solid submissions, however Allianz Australia took the lead to win the category.
Allianz delivers a wide range of personal and commercial insurance products to over 3.5 million policy holders, making the company the fourth largest general insurer in Australia. Judges noted that Allianz’s submission addressed the insurance industry’s issues with a range of impressive technology, people and ESG strategies.
In 2023, Allianz delivered outstanding customer satisfaction and retention data. The company impressed judges with its ratings of 4.63 and 4.29 out of five for customer satisfaction for purchases and renewals respectively. Allianz raised its 2023 client retention numbers to 82.39 per cent from 79.2 per cent the previous year. Its teams continue to work collaboratively to address drivers of dissatisfaction to improve the customer experience.
Allianz is currently rolling out a Business Transformation Program to improve the customer journey and team wellbeing. In 2023,
Allianz rolled out Sales Digital Workstation tool, to make servicing customers easier. The business also introduced a self-service Customer Portal and made enhancements to internal claim applications. Judges praised Allianz for taking major steps to improve the service system for the benefit of both customers and employees.
Allianz’s high staff engagement and retention rates set it apart, with an impressive 80 per cent engagement rate which represents a 5 per cent increase since 2021. Additionally, staff turnover was reduced from 17.8 per cent in 2021 to 12.2 per cent in 2023. Allianz offers a range of benefits to staff such as sport and fitness initiatives, financial advice and mentoring and personal development plans.
In 2023, Allianz introduced its Environmental Management System to embed environmental goals into its operations. The business consistently takes steps to reduce greenhouse emissions. For example, 100 per cent of the electricity powering company buildings was sourced from renewable sources.
PROFESSIONAL SERVICES FIRM OF THE YEAR
Finity
FINALISTS
* Barry Nilsson
* DLA Piper
* Finity
* Hall and Wilcox
* McLarens
* MinterEllison
* Sparke Helmore Lawyers
* Technical Assessing
* Turks (TurksLegal)
Finity is once again the winner in this competitive category, taking home the Professional Services Firm of the Year award for the fifth time.
Australia’s largest independent actuarial and analytics firm, Finity was acknowledged for its solid reputation, fostered by consistently strong measures across customer satisfaction, climate change innovation, workplace culture and generous contributions to community and industry.
Judges noted the firm’s steady proportion of returning customers, which hit an all-time high of more than 80 per cent in 2023.
Finity’s deep work to support clients with climate change data and reporting was applauded — especially the development of an economics advisory practice targeted at collecting and understanding customers’ geographical data. The launch in 2023 of Central, a new cloud-based solution providing access to data about how the present-day risk of any address in Australia will alter with climate change was praised as an innovative, practical step forward.
Judges were highly impressed by the support Finity offers its people, with diversity, equity and inclusion a key area of focus in 2023, noting how the business actively informed its strategy by participating in the Diversity Council of Australia’s “Inclusion Index”.
Finity’s “ground up recruitment” philosophy was praised, and Judges agreed the company makes a significant investment in training and development to ensure an ongoing pipeline of talent. Diversification into new skillsets including economics, finance and operations saw Finity’s largest ever cohort of graduates in 2023. The firm also achieved an excellent retention rate of over 80 per cent, while turnover remained below 20 per cent.
Judges acknowledged Finity’s ongoing commitment to community and industry initiatives, notably its provision of pro-bono actuarial services to the Indigenous Land and Justice Research Group of the University of Technology Sydney (ILJRG).
SERVICE PROVIDER TO THE INSURANCE INDUSTRY
Gallagher Bassett
FINALISTS
* Allied Universal Compliance and Investigations
* ARC Projects
* Crawford & Company Australia
* DXC Technology
* Gallagher Bassett
* IVAA Claims
* Sedgwick
In a field of eminent candidates, Gallagher Bassett (GB) won the day for the second time, having been rated highly by the judges on each of the measures they look for, including customer satisfaction, thought leadership, innovation, people focus and contribution to the community.
Over the last three years, GB has seen its revenue nearly double and realised a 75 per cent increase to its customer base. Notably, in 2023, the business expanded its capacity by establishing a significant 10-year partnership managing claims as part of icare’s Nominal Insurer scheme. Judges noted that in the course of 2023, GB improved customer satisfaction scores by close to 14 per cent.
The panel unanimously agree that GB should be recognised for its efforts to enhance operational capacity by deploying advanced AI technologies, including capabilities to rapidly process extensive claims documentation, and offer real time insights and sentiment analysis to help claims agents foster more empathetic and personalised interaction.
The company’s commitment to lifelong learning is evidenced by the introduction, in 2023, of the GB Claims Academy, designed to enhance the skills of staff in key areas, such as claims handling and customer support, as well as foster a deeper understanding of the industry’s code of practice and standards.
The Judges were impressed by GB’s employee engagement rate, which consistently improves, and sits significantly above the industry’s average due to a supportive culture and the opportunities provided for professional growth. In addition, staff turnover has reduced by more than 30 per cent over the last three years, showcasing the effectiveness of GB’s strategic approach to talent retention and development.
An exceptional community initiative in 2023, GB’s Raising Literacy program helped to improve literacy among disadvantaged children. This project required voluntary staff members to assemble and distribute “Read to Me” reading packs to children under the guardianship of the Minister in foster, kinship, residential and shortterm care. Undertaken on a quarterly basis, these efforts directly ensured that 400 children had access to quality reading materials.
Connec t for excellence
S edgwick celebrates this year ’ s award finalist s for their unwavering commitment to excellence, even in challenging times.
A s proud sponsors of the 2024 Insurtech Start-Up of the Year categor y, we look for ward to collaborating with many of you in the future
In partnership with leading insurtechs globally, S edgwick is connec ting our advanced claims management solutions and technology in new ways to solve challenges and seize opportunities.
Explore our comprehensive range of services:
- Loss adjusting
- Building consultancy ser vices
- Home claims ser vices
- Repair solutions
- Forensic accounting ser vices
- Absence and injury management
- Third part y administration
- Workers compensation
Contac t S edgwick today to discover how our expert s, innovative solutions and commitment to excellence can elevate you and your organisation.
INSURTECH START-UP OF THE YEAR
Simfuni
SPONSORED
BY
FINALISTS
* Clover Insurance
* Curium
* FreightInsure
* Simfuni
* Sync Technologies
A new contender in this year’s Insurtech Start-Up of the Year category in 2024, Simfuni won the day with a submission that blew the judges away.
Judges applauded Simfuni’s identification of fragmented, non-digitised payment processes as a challenge costing the industry billions in costs, time and client satisfaction. Its software solution is an API-based insurance premium payment platform designed to give insurance providers and their clients a seamless, modern payment experience.
Simfuni’s technology strives to save time and resources for brokers by streamlining the administration process involved in invoicing. Simultaneously, it aims to enhance the payment process for customers, making it easier for them and thereby reducing stress and frustration.
Judges were impressed by the start-up’s innovative revenue model, which generates four streams of revenue: the establishment fee, subscriptions to the software, transaction fees from policyholders and a portfolio management fee from premium funders.
Simfuni’s submission utilised robust data to support the necessity of its product. Notably, the company’s figures show that insurers using online payment software will see an increase in the timeliness of payments by 47 per cent, an increase of 20 per cent in new customers and a 46 per cent reduction in the volume of inbound calls.
The judges were greatly impressed by Simfuni’s implementation of two trained AI tools in its technology to ensure customers experience payments smoothly. AI tool Sarah negotiates with clients via email, SMS or online chat to resolve payment arrears and payment queries. AI tool Charlie is designed to engage with clients after a quote, to bind or facilitate payment, plus check how the process was for customers.
CLAIMS TEAM OF THE YEAR
SPONSORED BY
FINALISTS
* Allianz Australia
* CHU Underwriting Agencies
* Chubb
* Emergence Insurance
* IAG - Intermediated Claims
* Marsh
* NTI
* PassportCard
* ProRisk
* UAA (Underwriting Agencies of Australia)
* Woodina Law
NTI is congratulated for winning two categories in the 2024 Australian Insurance Industry awards, namely Underwriting Agency of the Year and Claims Team of the Year, the latter for the second year in a row. In another standout submission, NTI impressed judges with a well-articulated, concise demonstration of its investment in supply chain safety and efficiency.
A 50:50 joint venture between IAG’s CGU and Suncorp’s Vero, NTI operates as an individual entity. It is the largest specialist insurance provider for Australia’s critical supply chain supporting over two million Australians that contribute over $40 billion a year to the nation’s GDP.
The panel of judges praised NTI’s clear and transparent use of data combined with strong case studies that set NTI apart in a worthy field of competitors. From its impressive yearon-year growth to its robust number of claims handled versus complaints and NPS scores, NTI distinguished itself in the market as a
leader in customer service and overall customer satisfaction throughout the claims journey.
NTI was commended for its focus on meaningful interactions, especially evident in its case study involving an insured who hit a cow in remote South Australia causing a tanker at the rear to spill diesel into a dry creek bed.
NTI’s swift engagement at the scene strengthened relationships between remediation providers and independent geo-techs engaged devised a way for local farmers to treat the contaminated soil saving around $1 million. In addition, NTI’s onsite team embraced the involvement of the local Indigenous owners enabling works to take place near sacred sites.
Judges were also impressed with NTI’s work in 2023 to build on its commitment to learning both internally and externally. Professional development is supported and celebrated with a variety of collaborative staff and industry-wide initiatives.
EXCELLENCE IN WORKPLACE DIVERSITY AND INCLUSION
Allianz Australia
FINALISTS
* Allianz Australia
* Aon
* MetLife Australia
In a field of excellent candidates, Allianz Australia stood out to the judges once again, claiming the 2024 award for Excellence in Workplace Diversity and Inclusion for the second year in a row.
Throughout the 2023 financial year, Allianz focused on implementing its Diversity, Inclusion and Belonging Strategic Plan to boost inclusivity in the workplace and support diverse employees and customers. Allianz’s scope of social initiatives impressed the judges, who thought this exhibited the company’s dedication to creating an inclusive environment in the workplace.
Of particular note, was Allianz’s gender equality initiatives, including an extensive Domestic and Family Violence (DFV) Support program designed to support both employees and customers who are facing DFV. For customers, Allianz’s “High Care Team”, provides personalised and ongoing care to clients experiencing DFV. For staff, the DFV officer network, a system of 95 specially trained employees who become first responders in situations of self-disclosure has been implemented.
Allianz was commended for exceeding its diversity targets in 2023 and incorporating data well to showcase these outstanding results in its submission. For example, the company’s gender pay gap has dropped by 7.1 per cent since 2022. At 13.4 per cent, it is the lowest median gender pay gap across the Finance and Insurance Industry, and is 0.2 per cent lower than the current industry median.
In 2023, 56 per cent of Allianz employees, 42 per cent of mid-level managers and 39 per cent of senior leaders identified with a culture other than white Australian compared to the company’s 42 per cent, 42 per cent and 25 per cent targets respectively. To further promote cultural understanding within the workplace, Allianz launched Cultural Responsiveness training in partnership with Settlement Services International.
Allianz was also acknowledged for its continuing work with Jigsaw, providing training and employment opportunities for neurodivergent people. The business has gone on to hire 11 permanent employees through its Jigsaw program.
EXCELLENCE IN ENVIRONMENTAL, SOCIAL AND GOVERNANCE CHANGE
CHU Underwring Agencies
FINALISTS
* CHU Underwriting Agencies
* IAG
* Insurance Council of Australia
* QBE Insurance
CHU Underwriting Agencies was the clear winner in this category with a standout submission demonstrating overall ESG excellence. CHU prioritises sustainability as a core feature of its business model and has expanded on this in the 2023 financial year.
Judges commended the company’s submission which included a range of data to demonstrate the outcomes of its initiatives and illustrate progress towards its goals.
In 2023, CHU pledged to follow the United Nation’s Sustainable Development Goals (SDGs), a set of 17 global targets highlighted by the UN to address the world’s most pressing issues. CHU selected eight of these goals to prioritise and integrate based on the guiding principles of people, planet, prosperity and partnership.
CHU continues to work towards achieving net zero by 2030 across its entire supply chain with scope 3 emissions reduction initiated in 2023 including an examination of its providers.
In line with this goal, CHU conducted an extensive request for information (RFI) process to select a new panel of builders and repairers for CHU claims with sustainability credentials and willingness to commit to Net Zero targets a major aspect of the selection criteria. CHU vetted over 90 builders and selected 60 who committed to supply chain sustainability targets.
The judges were also impressed by CHU’s dedication to supporting its community. The company works closely with multiple charitable organisations, including the Forktree project, to which it contributes financially, OzHarvest and the Starlight Foundation to which it contributes volunteers and the GO Foundation, for which it helps raise funds.
YOUNG INSURANCE PROFESSIONAL OF THE YEAR
Demi Peters
Barry Nilsson
SPONSORED BY
FINALISTS
* Brianna Cattanach - ALLIANZ
* Rachel Hardy - AXA XL
* Raquel Kearns - ALLIANZ
* Jodie Krafft - WTW
* Molly Liskazer (nee Carr-Walsh) - TOLL
* Demi Peters - BARRY NILSSON
* Justin Portelli - FINITY
* Travis Saxby - ALLIANZ
Demi Peters started her insurance career in 2012 as an office junior at Hunt & Hunt Lawyers at the age of 18. Having just started her law degree, she was unsure of the area she wished to pursue, but after joining Barry Nilsson (BN) as a law clerk in 2016, and then being employed at the company as a solicitor in 2018, her passion for insurance law was truly ignited.
Demi commenced practising in public liability, professional indemnity, workers’ compensation and CTP, and cites the diversity across practice areas, insureds and range of clients as challenging and rewarding. Having set clear goals to improve her financial performance, increase her file load and strengthen her autonomy, client relationships and legal skills, Demi quickly progressed in her career.
In January 2022, Demi was promoted to Associate, and the following January 2023, to Senior Associate. Having been in practice for less than five years at the time, she counts this as her greatest professional achievement. She was also commended by the judges for giving her time to training junior lawyers to meet potential workload increases.
Demi plans to leverage the Hobart market’s potential for growth by building on existing relationships between insurers and local lawyers. Her strategy is to raise awareness of BN’s expertise and capabilities with the regular production of educational materials and other value-add initiatives, as well as implementing targeted business development activities.
Upon joining BN’s Hobart team, Demi recognised the need for an “on the ground” lawyer with experience in employment law and relations and followed up in July 2022 by obtaining a Post Graduate Certificate in Employment Relations.
In 2023, Demi was re-elected President, Young Insurance Professionals (YIPs), Tasmanian Branch, which she says helped strengthen her knowledge of the insurance industry, as well as refine her networking skills.
As President of YIPs since 2019, Demi has been instrumental in solidifying the network’s foundation in Tasmania. Recognising that the local branch was dormant prior to her tenure, she collaborated with the National YIPs team to reestablish the committee and launch Tasmania’s first YIPs networking event.
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INSURANCE LEADER OF THE YEAR
Andrew Hall
SPONSORED BY
Andrew Hall was the unanimous choice for this year’s Insurance Leader due to his solid approach, influence and ability to keep the insurance industry on the public radar. In particular, he was noted for setting a platform of humility and continuous improvement for every insurer.
Andrew started his career in journalism and politics before moving to the private sector where he held senior corporate affairs roles at Woolworths and the Commonwealth Bank. Since joining the insurance industry, he has been instrumental in advocating for its interests, particularly in the areas of policy development and regulatory reform.
Within the first week of his tenure as Chief Executive Officer, Insurance Council of Australia in 2020, issues were erupting over whether a pandemic was considered a business interruption for the purposes of claiming from an insurance policy.
Under Andrew’s leadership, the ICA has taken significant steps to address pressing issues facing the insurance industry, including climate change, natural disaster resilience, and consumer
protection. He has been a strong advocate for the importance of insurance in promoting economic stability and supporting communities during challenging times.
Andrew’s commitment to fostering collaboration among industry stakeholders has led to the development of innovative solutions that benefit both insurers and policyholders. Throughout his varied career, he has led teams big and small and approaches his work with a fundamental mindset of curiosity. Asking questions has deepened his understanding and skills, and he sees value in taking the occasional wrong turn.
In addition to his role at the ICA, Hall is actively involved himself in various industry committees and working groups, contributing to the broader discourse on insurance and risk management in Australia.
Andrew’s vision and dedication to the industry continue to shape its future in Australia, making him a key figure in promoting a resilient and sustainable insurance landscape.
ANZIIF LIFETIME ACHIEVEMENT AWARD
Richard Enthoven
Richard Enthoven’s innovative spirit and dedication have left an indelible mark on the insurance industry, positioning him as a leader and visionary in Australia and beyond.
His entrepreneurial journey began in the insurance sector, where he identified a gap in the market for innovative insurance solutions. In 1999, he founded Hollard Insurance, which quickly gained a reputation for its customer-centric approach and commitment to providing accessible insurance products and earned him the ANZIIF award for Insurance Leader of the Year in 2019.
Under Richard’s leadership, Hollard expanded significantly, both in South Africa, where it became one of the country’s largest privatelyowned insurance companies, and abroad. Judges were inspired by his vision of creating an insurance company that meets clients’ needs while fostering a culture of empowerment and innovation among employees. This approach saw Richard stand as an authentic advocate for women’s issues and diversity and inclusion (D&I) overall. In addition, Richard’s proactive risk-taking philosophy encourages staff to embrace failure as a stepping stone to success.
Richard’s influence extended beyond Hollard; he co-founded Greenstone Financial Services
and PetSure Australia, further diversifying his contributions to the insurance sector.
Currently, Richard serves as the chairman of Greenstone and holds directorships at Hollard Holdings Australia and PetSure Australia. His influence extends to the pet insurance market as a director of Trupanion Inc, a prominent provider of medical insurance for pets across multiple regions, including the United States, Canada, and Europe.
Richard’s leadership as a director of the Insurance Council of Australia from 2013 to 2024 was also recognised. He held significant positions, including deputy president from March to November 2017, president from 2017 to 2019, and deputy president again from 2021 to 2024, showcasing his commitment to shaping the insurance industry in Australia.
In addition to his business acumen, Richard holds a Master of Science from the London School of Economics and a Bachelor of Arts from the University of Southern California. His educational background complements his extensive experience, making him a respected figure in the insurance landscape.
THE LAST WORD
The insurance industry continues to be shaped by multiple disruptive forces – from technology advancement, AI and new competitors, to increased regulatory scrutiny, evolving customer behaviours, new climate disclosure reporting requirements, and diversifying risk exposures. However, these challenges also bring with them new opportunities and we see clear indicators of future growth for the sector, including strong demand signals, new business models and expanding data access that promises to transform risk assessment and pricing.
Insurers that take bold and creative action to harness the power of these disruptive trends will be well-positioned to create new value for customers, society, and their own businesses. That’s why it was so heartening to see the impressive standard of submissions for the 2024 ANZIIF Australian Insurance Industry Awards, with wonderful examples of innovation, transformation and strength from right across the Australian insurance market.
As a major provider of professional services to the insurance industry, both locally and globally, EY is proud to continue our support of the ANZIIF Australian Insurance Industry Awards and we appreciate the opportunity to participate once again in this year’s judging process.
Please join me in congratulating all of the 2024 award winners and nominees on their outstanding achievements.
WALTER POETSCHER
EY OCEANIA INSURANCE LEADER
THANK YOU FOR SUPPORTING OUR INDUSTRY AND THE
20TH AUSTRALIAN INSURANCE INDUSTRY AWARDS