Allianz explains why it’s the General Insurance Company of the Year

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Allianz has issued a statement revealing why the company was named winner of

the General Insurance Company of the Year Award for the second time at the 2011
Australian Insurance Industry Awards.

The General Insurance Company of the Year award is judged by an independent
panel of industry experts on a comprehensive range of criteria, including:

  • In-depth knowledge and understanding of the market through research;
  • Responsiveness to customer needs;
  • Industry leadership exhibited through innovation, service, people, policy and communication;
  • Business retention and growth;
  • Sound financial management;
  • Commitment to people development;
  • Demonstrated effort to improve the industry’s image; and
  • Speed and effectiveness in handling claims.

Allianz addressed these criteria in its submission. An Allianz spokesperson
highlighted the following points specifically:

  • The company’s focus on improving client experiences, as evidenced by the annual benchmarking of dealers, brokers and direct customer’s feedback. The development of complaints, and sales and service feedback mechanisms, combined with the use of social media scanning, resulted in Allianz’s net promoter score significantly improving on the previous year.
  • A culture of innovation which actively encourages employees to submit their ideas to support the growth of the business and the improvement of services to clients. Innovations created by Allianz Australia have been adopted and used within the greater Allianz global network.
  • The company’s financial performance went from strength to strength delivering returns on equity well in excess of the target return, whilst still achieving GWP growth.
  • Greater efficiency in processing online claims; delivering on 39,000 online claims against the previous year’s 16,000.
  • The significant work they undertook to support those customers who were impacted by the Melbourne and Perth hailstorms. They mobilised hundreds of employees across Australia who performed over 30,000 hours of overtime, showing a group commitment, a sense of service and strong links to the needs of the community.

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