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Allianz named 2011 General Insurance Company of the Year

Sydney, 12 August 2011

Company of the Year
Allianz is proud to be named the winner of the General Insurance Company of the Year Award at the 2011 Australian Insurance Industry Awards.

The annual awards are hosted by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and Asia Insurance Review.

Commenting on Allianz’s success, Managing Director, Terry Towell, said “Allianz is delighted to win the General Insurance Company of the Year award for a second time.”

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.

Addressing the criteria in its submission, Allianz highlighted:

  • 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.

According to Mr Towell “the award is recognition of the hard work of our team. I am proud that we listen and adapt our customer service to be able to deliver in those moments when our customers need us most, something we call ‘The Allianz Experience’.” said Mr Towell.

Allianz Australia and the Allianz Group

General Insurance Company of the Year 2009, 2011 *
Best General Insurance Company of the Year 2006, 2007, 2010 **

Allianz Australia delivers a wide range of personal, commercial and corporate insurance products and services. AAL is proud to be of service to more than 2 million policy holders and over 50% of Australia’s top 200 BRW listed companies have some form of insurance cover with the group. Allianz Australia offers a wide range of insurance products and services including car insurance, home insurance and Life insurance.

The Allianz Group is among the top 20 of the world’s largest corporations based on revenues, and among the largest insurers based on market cap. With a solvency ratio of 173%, the Allianz Group remains a financially stable partner for customers, shareholders and employees.

*Australian Insurance Industry Awards
**Australian Banking and Finance Insurance Awards