New Zealand Insurance Industry Awards

The New Zealand Insurance Industry Awards are held to honour the achievements of companies and individuals within the New Zealand insurance market throughout the previous year, the Industry Awards unite all sectors of the insurance industry to celebrate its dedication to best practice and high achievement. This year we have eleven award categories designed to provide companies and individuals the opportunity to demonstrate the highest standards of best practice and initiatives in their field. 

Each award category is adjudicated by a distinguished panel of industry judges and is independently audited by Ernst & Young to ensure proceedings are conducted with the greatest integrity.

Submissions open on Tuesday 26 April 2016 and close on Thursday 7 July 2016.

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Submissions

  • Small-Medium Broking Company of the Year

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    Small-Medium Broking Company of the Year

    This award is open to small-medium insurance broking companies who have demonstrated strong performance and outstanding service for their customers in New Zealand from 1 April 2015– 31 March 2016. Companies with a gross written premium under $50 million or revenue under $15 million are eligible for this award.

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe how the business is structured. This should include whether the business operates as a stand-alone business, is a division of a larger organisation or is part of a broking network. 5%
    • Provide an overview of your business strategy and objectives. Describe how you review these, track your performance and account for emerging risks. 10%
    • Provide financial results for the last 3 years including but not limited to premium growth, gross income, profit and GWP. 20%
    • Provide an overview of the major customer segments you work with, the size of these and the percentage contribution to your overall book. Explain your service model across each of the major transaction points. 10%
    • Explain how you approach risk management with customers. Provide an example of where you have added value for a customer. 5%
    • Provide an overview of your claims management support for customers. Provide an example of where you were involved in a major claim, describe your involvement and the customer outcome. 5%
    • Provide an overview of the measures you have in place to assess customer satisfaction and provide the data. This should include survey results, NPS data and retention figures for each of your customer segments identified above. 15%
    • Provide an overview of your approach to people management. This should include staff recruitment, induction, formal qualifications, ongoing learning and development, retention and internal promotions. Include your measures of success, such as staff engagement, staff turnover, percentage of qualified staff in each job type and percentage of staff who undertake professional development. 15%
    • Describe how your company contributes to the professionalism of the insurance industry in terms of industry support, your customers and your philanthropic support to the community. 10%
    • Explain why your business is exceptional. 5%

    The submission must be 2,500 words or less.

  • Large Broking Company of the Year

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    Large Broking Company of the Year

    This award is open to large insurance broking companies who have demonstrated strong performance and outstanding service for their customers in New Zealand from 1 April 2015–31 March 2016. Companies with a gross written premium over $50 million or revenue over $15 million are eligible for this award.

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe how the business is structured. This should include whether the business operates as a stand-alone business, is a division of a larger organisation or is part of a broking network. 5%
    • Provide an overview of your business strategy and objectives. Describe how you review these, track your performance and account for emerging risks. 10%
    • Provide financial results for the last 3 years including but not limited to premium growth, gross income, profit and GWP. 20%
    • Provide an overview of the major customer segments you work with, the size of these and the percentage contribution to your overall book. Describe your service model across each of the major transaction points. 10%
    • Explain how you approach risk management with customers. Provide an example of where you have added value for a customer. 5%
    • Provide an overview of your claims management support for customers. Provide an example of where you were involved in a major claim, describe your involvement and the customer outcome. 5%
    • Provide an overview of the measures you have in place to assess customer satisfaction and provide the data. This should include survey results, NPS data and retention figures for each of your customer segments identified above. 15%
    • Provide an overview of your approach to people management. This should include staff recruitment, induction, formal qualifications, ongoing learning and development, retention and internal promotions. Include your measures of success, such as staff engagement, staff turnover, percentage of qualified staff in each job type and percentage of staff who undertake professional development. 15%
    • Describe how your company contributes to the professionalism of the insurance industry in terms of industry support, your customers and your philanthropic support to the community. 10%
    • Explain why your business is exceptional. 5%

    The submission should be 3,000 words or less.

    Submit

  • Direct General Insurance Company of the Year

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    Direct General Insurance Company of the Year

    This award is open to licensed † general insurance companies, subsidiary of, or joint venture business selling through the direct channel (but not underwriting agencies or intermediated insurers) which have demonstrated strong performance and outstanding service for their customers in New Zealand from 1 April 2015 – 31 March 2016. This can include individual direct brands for large insurance groups. † Licensed under the Financial Markets Authority

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe how the business is structured, the major customer segments/product classes and the service model you operate. Where possible, provide percentages to enhance overview. 10%
    • Provide an overview of any of measures in place for customer satisfaction and provide the data. 15%
    • Describe any innovations introduced and how these have benefited the customer. 10%
    • Describe the claims handling process, including your complaints resolution process. Include any data in relation to the total number of complaints, internal disputes and any referrals from the disputes resolution tribunal. 20%
    • Provide financial results from the last 3 years including but not limited to GWP, client retention, underwriting result, after-tax profit, net loss ratios, combined operating ratios and capital ratio. 20%
    • Provide an overview of your approach to people management. This should include staff recruitment, induction, formal qualifications, ongoing learning and development, retention and internal promotions. Include your measures of success, such as staff engagement,staff turnover, percentage of qualified staff in each job type and percentage of staff who undertake professional development. 10%
    • Describe how your company contributes to the professionalism of the insurance industry in terms of industry support, your customers and your philanthropic support to the community. 10%
    • Explain why your business is exceptional. 5%

    The submission must be 3,000 words or less.

    Submit

  • Intermediated Insurance Company of the Year

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    Intermediated Insurance Company of the Year

    This award recognises licensed † general insurance companies (but not underwriting agencies or direct insurers) which have demonstrated strong performance and outstanding service for their customers in New Zealand from 1 April 2015 – 31 March 2016. † Licensed under the Financial Markets Authority.

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe how the business is structured. This should include whether the business operates as a stand-alone business or is part of a larger organisation. 5%
    • Provide an overview of your business strategy and objectives. Describe how you review these, track your performance and account for emerging risks. 10%
    • Describe how you use digital and social media within your business. 10%
    • Describe the claims handling process, including your complaints resolution process. Include any data in relation to the total number of complaints, internal disputes and any referrals from the disputes resolution tribunal. 20%
    • Provide financial results from the last 3 years including but not limited to GWP, client retention, underwriting result, after-tax profit, net loss ratios, combined operating ratios and capital ratio. 15%
    • Provide an overview of the measures you have in place to assess satisfaction and provide the data. 15%
    • Describe your approach to people management. This should include staff recruitment, induction, formal qualifications, ongoing learning and development, retention and internal promotions. Include your measures of success, such as staff engagement, staff turnover, percentage of qualified staff in each job type and percentage of staff who undertake professional development. 10%
    • Describe how your company contributes to the professionalism of the insurance industry in terms of industry support, your customers and your philanthropic support to the community. 10%
    • Explain why your business is exceptional. 5%

    The submission must be 2,500 words or less.

    Submit

  • Life Insurance Company of the Year

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    Life Insurance Company of the Year

    This award is for licensed † life insurance companies who have demonstrated strong performance, responded to market changes and provided outstanding service for their customers and intermediaries in New Zealand from 1 April 2015 – 31 March 2016. † Licensed under the Financial Markets Authority

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe how the business is structured and the service model you operate. This should include whether the business operates as a stand-alone business or is a division of a larger organisation. 5%
    • Provide an overview of any measures in place for customer satisfaction and provide the data. 15%
    • Describe any innovations introduced and how these have benefited the customer. 15%
    • Describe how the business is approaching the emerging risks in the industry and outline any changes that were made in 2015 to address them. 15%
    • Provide financial results from the last 3 years including but not limited to insurance risk premium, investment income, client retention, after-tax profit and cost-to-income ratio. 20%
    • Describe the program in place for ongoing staff education, learning and professional development. Provide data to indicate the percentage of staff who undertake the different types of learning and development activities. 15%
    • Describe how your company contributes to the professionalism of the insurance industry in terms of industry support, your customers and your philanthropic support to the community. 10%
    • Explain why your business is exceptional. 5%

    The submission should be 2,500 words or less.

    Submit

  • Innovation of the Year

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    Innovation of the Year

    This category is open to organisations, teams or individuals operating in the New Zealand insurance industry. The innovation must be new rather than a performance or product enhancement. The innovation must have been introduced into the New Zealand marketplace between 1 January 2015 – 31 December 2015.

    Submissions should address the following criteria in relation to New Zealand operations:

    • Outline the objectives and purpose of the innovation. 10%
    • Overview of the challenge that the business faced and the process for the development of the innovation. 20%
    • Outline how the innovation has benefitted your business, customers, and/or industry. 40%
    • Explain the extent of the innovation in comparison to any existing like products or services. 10%
    • Outline any customer feedback or initial results from the launch of the innovation. 20%

    The submission should be 2,000 words or less.

  • Service Provider to the Insurance Industry

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    Service Provider to the Insurance Industry

    This award recognises organisations which have made a significant contribution to the New Zealand insurance industry through services provided between 1 April 2015 – 31 March 2016. This includes retailers, loss adjusters, specialist claims providers, claims preparers and building services. Organisations that are eligible for other industry award categories including professional services, brokers and general insurers are not eligible to apply for this award.

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe your business, how it is structured, and what percentage of revenue is derived from the insurance industry. 10%
    • Describe how your business supports the insurance industry to be more effective in its day-to-day operations. Provide evidence. 20%
    • Give an overview of how you measure satisfaction and provide the data. 30%
    • Describe any innovations or significant changes introduced during 2015 and how these have benefited your business, the insured and insurer. 10%
    • Describe how you induct new staff in relation to the insurance industry and provide ongoing learning and development opportunities to enhance their understanding of the industry. 10%
    • Beyond your day-to-day business dealings, describe how your company supports the insurance industry. This may include, but is not limited to, participation in committees, sponsorships, writing industry papers and contribution to publications, conferences, education and professional development. 10%
    • Explain why your business is exceptional. 10%

    The submission must be 1,500 words or less.

    Submit

  • Professional Services Firm of the Year

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    Professional Services Firm of the Year

    This award is for organisations that provided specialty professional services to the New Zealand insurance industry between 1 April 2015 – 31 March 2016. These include accounting, actuarial, consulting, and legal services.

    Submissions must address all of the following in relation to your New Zealand operations:

    • Describe your business, how it is structured, and what percentage of revenue is derived from the insurance industry. 10%
    • Describe the insurance customer segments you work with and provide information that indicates the number of insurance clients you support and how you service them. 20%
    • Provide an overview of any measures in place for customer satisfaction and provide the data. 20%
    • Describe any innovations or significant changes introduced during 2015 and how these have benefited your business and the insurance industry. 10%
    • Describe how you induct new staff in relation to the insurance industry and provide ongoing learning and development opportunities to enhance their understanding of the industry. 10%
    • Provide an overview of your commitment in 2015 to the insurance industry. This may include, but is not limited to, participation in committees, sponsorships, writing industry papers and contribution to publications, conferences, education and professional development. 20%
    • Explain why your business is exceptional. 10%
    The submission must be 1,500 words or less.

  • Youth Development Employer of the Year

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    Youth Development Employer of the Year

    This award recognises insurance-based organisations that demonstrated a commitment to the employment and development of young insurance and finance professionals between 1 April 2015 – 31 March 2016. Young insurance professionals are defined as being 35 years or younger.

    Submissions must address all of the following in relation to your New Zealand operations:

    • Give an overview of any policies, strategies and objectives in place to support young people. 15%
    • Describe any graduate or entry-level programs in place specifically to recruit and develop young people. 20%
    • Provide the percentage of new employees under 35 employed by your business in 2015. Describe how you pitched the insurance industry and your company when recruiting young people. 10%
    • Describe strategies and programs in place specifically to retain young insurance professionals. Please state your current regretted turnover of staff under 35 in 2015. 10%
    • Outline the proportion of staff under 35 within the organisation across role types (from Board to entry level). 10%
    • Outline the proportion of staff under 35 in core ‘insurance’ business roles (claims, underwriting and distribution) vs non-core business roles (support, administration, finance, marketing, human resources, actuarial etc). 10%
    • Describe what programs are in place within your company that facilitate young people to contribute to the professionalism of the insurance industry. 20%
    • Describe why your business is an exceptional place for a young person to work. 5%
    The submission must be 2,000 words or less.


  • Women’s Employer of the Year

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    Women’s Employer of the Year

    This award recognises the efforts between 1 April 2015 – 31 March 2016 of insurance-based organisations that have demonstrated a genuine commitment and taken positive steps to improving gender equality and diversity across their organisation and the wider industry.

    Submissions must address all of the following in relation to your New Zealand operations:

    • State the objectives for gender equality in your business. 5%
    • Overview policies, strategies and programs that are in place to support the overall objectives. 10%
    • Document the percentage gender composition across each level of your workforce (Board to entry-level roles). WEGA reporting is acceptable. 15%
    • Provide the gender composition by percentage for direct reports to CEO and at one level below for core ‘insurance’ business roles (claims, underwriting and distribution) vs non-core business roles (support, administration, finance, marketing, human resources, actuarial etc). 20%
    • Describe how your gender composition has changed over the past 5 years. Describe the impact this has had on workplace culture and engagement. 10%
    • Provide an overview of your formal remuneration policy, gender pay objectives, the program in place to achieve your objectives and the timeframe in which you will achieve them. Describe the impact to your business. Provide evidence to support program implementation. 20%
    • Describe the frameworks and programs in place to support career progression and professional development for women. 10%
    • Give an overview of the parental leave and return to work programs available to females and males; indicate the participation percentages for both genders and include any superannuation initiatives. 10%
    The submission must be 2,000 words or less.
  • Young Insurance Professional of the Year

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    Young Insurance Professional of the Year

    This award recognises a young insurance professional who has demonstrated outstanding commitment, achievement and passion in the New Zealand insurance industry during the period 1 April 2015 – 31 March 2016.

    The candidate must be under 35 years of age at 31 March 2016 and have more than five years of experience in the industry. Previous entrants are eligible to apply up to three times in total.

    Submissions must address all of the following:

    • Provide a brief career synopsis. Include the age at which you first joined the industry, what attracted you to it and outline the roles you have held. 10%
    • Provide an overview of any formal study, qualifications, and professional development undertaken over the past 3 years. 15%
    • Provide an overview of what your top achievement in 2015 was and why. Include data or evidence. 30%
    • Provide examples of where you contributed to the insurance industry. This may include, but is not limited to, participation in committees, writing industry articles, contribution to publications and speaking at conferences, to community groups or to schools. 15%
    • Outline your career goals and your plan to achieve your major milestones. 20%
    • Describe why you are passionate about working in insurance. 10%

    The submission must be 1,500 words or less.

    Submit

  • Broking Professional of the Year

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    Broking Professional of the Year

    This award is open to any experienced individual broker who has consistently demonstrated outstanding achievement as an insurance broker throughout their career in New Zealand, adding value for customers, colleagues and their employer. They must have been employed in the New Zealand insurance industry during the period 1 April 2015 – 31 March 2016. This category can be
    entered into through direct submission or nomination by a third party.

    The candidate must have a minimum of five years of experience in the industry and spent the majority of their broking career in New Zealand. Previous entrants are eligible to apply up to three times in total.

    Submissions should include:

    • A brief career synopsis. 10%
    • An overview of any formal study or qualifications and describe your overall approach to your own ongoing professional development. 10%
    • An overview of your portfolio including size and breadth and/ or other general responsibilities in your current role. 10%
    • Describe your approach to business development, ongoing client servicing and highlight how you add value to your clients. Provide data and evidence to support customer satisfaction. 30%
    • Provide examples of where you have displayed industry leadership. This may include, but is not limited to, participation in industry bodies, contribution to publications and speaking at conferences, within your business and/or across the wider community. 15%
    • Overview what you consider to be your most significant contribution in your broking job role to date and explain why. 15%
    • Testimonials from at least two senior insurance leaders. 10%

    The submission must be 1,500 words or less. If you are nominating someone else, please describe your relationship to that individual.

    Submit

  • Insurance Leader of the Year

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    Insurance Leader of the Year

    This award is open to any individual in the insurance industry who has demonstrated outstanding leadership that has benefited the New Zealand insurance industry during the period 1 April 2015 – 31 March 2016. This category can be made through direct submission or nomination by a third party.

    Submissions should include: 

    • A brief career synopsis. 10%

    • An overview of any formal study or qualifications and describe your overall approach to your own professional development. 20%

    • An example of where you applied and implemented outstanding leadership of a major initiative during the period 1 April 2015 – 31 March 2016. Describe the impact on both the business and the market. 50%

    • An overview of how you promote the insurance industry to the market, broader community and/or government to improve its image and reputation. Please provide examples. 20%

    The submission must be 1,500 words or less. If you are nominating someone else, please describe your relationship to that individual.

     

    Submit

  • ANZIIF Lifetime Achievement Award

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    ANZIIF Lifetime Achievement Award

    This award recognises an outstanding individual who has significantly contributed to the advancement, promotion and improvement of the insurance industry in New Zealand over the span of their career. The candidate must have worked in the insurance industry over a period of at least 15 years with the majority of their work being undertaken in the New Zealand market. This category can be made through direct submission or nomination by a third party.

    The submission should include:

    • A brief career synopsis.
    • Examples of outstanding leadership displayed throughout their career, including major initiatives, improvements, and successes to their business and the market.
    • A description of their personal contribution to the development, advancement, promotion and improvement of the insurance industry. This can include, but is not limited to, participation in committees, contribution to publications and white papers, speaking at conferences and the contribution to the development of people within their own business.
    • Describe the legacy they will leave when they leave the industry.

    As a guide the submission should be 1,500 words or less. If you are nominating someone else, please describe your relationship to that individual.

    Submit