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2023 New Zealand Insurance Industry Awards
WITH THANKS
PROUDLY HOSTED BY
TO OUR SPONSORS PLATINUM
SILVER
SCRUTINEER
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2023 New Zealand Insurance Industry Awards
PRESIDING JUDGE’S
MESSAGE
On behalf of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), welcome to the 2023 New Zealand Insurance Industry Awards. Now in its 11th year, the New Zealand Insurance Industry Awards celebrates the outstanding achievements of New Zealand individuals and businesses, highlighting the industry’s collective success. This year, we acknowledge how our industry’s continued support for and commitment to customers, community, and each other has made a real difference. We also celebrate the resilience and adaptability of our industry in the face of significant challenges. The 2023 New Zealand finalists should all be incredibly proud of their accomplishments and for the way they have displayed excellence and remarkable professionalism. Thank you to our diverse judging panel, all of whom generously give their time to assess the submissions, and to our partners and sponsors, whose unwavering support helps make this important event possible. We are also grateful to the many individuals and businesses who submitted applications. We are delighted that you have joined us to acknowledge the New Zealand insurance industry and to reflect on the year that was.
PRUE WILLSFORD CEO, ANZIIF
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2023 New Zealand Insurance Industry Awards
2023
JUDGING PANEL PRUE WILLSFORD CEO ANZIIF
MICHELLE ASHBY Learning Leader, People & Culture Suncorp New Zealand
DENISE BOURDÔT Compliance Manager – New Zealand PSC Connect
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Prue attended the Queensland University of Technology, graduating with a Bachelor of Laws. Prior to her appointment as ANZIIF CEO, she was the General Manager, Corporate Operations at State Trustees, a role which included the oversight of Finance, Technology, Legal, Compliance, and Investments in a highly complex, medium size financial services company. She has over 20 years of experience in the financial services sector, including management accounting at Macquarie Bank and policy development at Investment Funds and Superannuation Association. She has also held leadership roles in financial services product development, marketing and operations at Colonial Mutual and National Australia Bank. Prue was the Deputy Chancellor of Victoria University and the Chairman of the Resources Committee and is currently a Board member at Citywide Service Solutions.
Michelle is part of Suncorp Group’s People & Culture team based in New Zealand. In her role as Learning Leader, she is accountable for the development of capability across the Vero and Asteron Life brands in Suncorp New Zealand. Michelle’s career has spanned over 35 years in the insurance industry, beginning her career in a customer service role for GRE in Dunedin. Over her career she has held roles in customer service, sales and underwriting functions before finding her passion for developing people and moving into a learning role. Michelle is a Senior Associate (CIP) and has been active in the insurance industry, having previously sat on ANZIIF’s Academic Council, Women’s Council as well as the New Zealand Branch Executive Committee. She is currently a member of ANZIIF’s New Zealand Member Advisory Board.
After working in the General Insurance broking industry for 30+ years, including as a Branch Director at Crombie Lockwood, Denise joined PSC Connect in August 2019 as their first NZ Compliance Manager. Since then she has successfully attained three FAP Licences for each of the PSC businesses and recently won their High Achiever Award. Denise is a Chartered Qualified Insurance Broker and an ANZIIF Senior Associate. In her spare time Denise and her husband like to socialise with friends, go to a concert, or unwind with a good meal and a nice bottle of Pinot Noir.
2023 New Zealand Insurance Industry Awards
TANIA CHARLES Specialist, Technical Insurance Capability IAG
DAVID CRICK Chief Executive Officer Runacres
PETE FRIZZELL Chief People Officer FMG
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Tania Charles was appointed Specialist, Technical Insurance Capability in September 2021. Prior to this she was part of the IAG Internal Audit team. Tania has worked for IAG for over 20 years, starting her insurance career in Wellington with the State brand. She moved to Auckland and into the Commercial Property Portfolio team, and since then has worked as a manager in the NZI brand and as an internal auditor for IAG. In her current role, Tania is responsible for researching and writing learning content on insurance topics and IAG topics for IAG employees across New Zealand and Australia. The content is designed to connect the learner with the insurance customer and the community and has received international recognition with a LearnX platinum Award in November 2022. Tania is an alumnus of Massey University and a Fellow of ANZIIF. She is currently studying te Reo Māori at AUT and enjoys swimming and running at a very social level.
David commenced his broking career in 1982, and established his own Brokerage in 1994. This was followed by several acquisitions culminating in becoming Head of Commercial Insurance Operations for one of the largest UK Independent Brokerages. He then moved to New Zealand as CEO at Runacres 3 days before the September earthquake in 2010. Following this David rapidly engaged with clients and insurers, building a strong reputation across the industry. He was awarded ANZIIF Broking Professional of the Year in 2016 & Runacres also was recognised as ANZIIF Small/Medium Brokerage of the Year in 2015 and 2019. David is a Fellow of ANZIIF and his commitment to the Insurance Industry is backed with leadership skills obtained via a Master of Business Administration Degree in 2008. Outside of work, David enjoys time spent with his wife Helen and four daughters! Volleyball and tennis are David’s passions, with rugby now an observer sport following too many injuries during a zealous period of encounters.
Pete is passionate about helping make New Zealand an even better place to live in for everyone in our beautiful bi-cultural country. Currently heading up People & Culture and Communications, Pete has over 25 years’ experience of achieving excellent results for organisations, their clients and employees. Experienced in leading diverse teams through change, managing complex environments and achieving excellent financial results, Pete has worked across the insurance value chain as well as leading large business driven IT projects. Prior to FMG Pete had broad exposure to Government, health, telecommunications and IT consulting.
2023 New Zealand Insurance Industry Awards
CRAIG FURNESS Chief Executive Officer Gallagher Bassett
DEAN GARROD Managing Director McLarens New Zealand
TIM GRAFTON Chief Executive ICNZ
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Craig Furness brings more than three decades of financial services experience to his role as CEO of Gallagher Bassett NZ, a position he has held since 2015. With qualifications including a Master of Commerce, Craig has a broad skillset, covering broking, sales, operations, and senior management roles. Prior to joining GB, he held leadership positions at AXA, Colonial Mutual, Marsh/Mercer, Sovereign Insurance, and was the CEO of Cosignia for 8 years. His role on the board of the NZ Underwriting Agencies Council further highlights his commitment to the industry. A proud New Zealander, Craig’s pragmatic approach, strong strategic vision, and commitment to quality assurance have been instrumental in GB’s significant growth and success in the NZ market. Under Craig’s steady leadership, GB’s revenue in New Zealand has grown by 400%, with the company securing its position as the leading multi-disciplinary Third Party Administrator (TPA) in New Zealand. Craig’s guidance has seen GB participate in three acquisitions and broaden its operating areas to include Life and Health, Personal Injury, General Insurance, and Occupational Health. His leadership was recognised when GB won the 2021 ANZIIF New Zealand Innovation of the Year award for its creative customer solutions. In 2023 Craig led GB’s successful response to multiple catastrophic events, including Cyclone Gabrielle, activating a global task force to ensure a timely response for customers. Dean started his career in insurance in 1989 with a large insurer, ultimately working in both commercial underwriting and more latterly claims. Subsequently he moved into Loss Adjusting in1995. He has held several professional directorships, and ultimately became Chief Executive of Crawford & Company New Zealand in 2011, and post-acquisition of that New Zealand business by Mclarens Global in 2020, became Managing Director of the New Zealand business and now sits on the McLarens Global Management Team. In addition to industry qualifications (ANZIIF and AICLA), Dean also obtained his MBA through the University of Auckland. Dean has a passion for his team and their development, with an equally important clear focus on the customer, innovation and evolving industry dynamics. Being a 30-year veteran of the industry, he has witnessed and relishes being part of an industry going through such significant fast paced change, a challenge faced by individuals and businesses alike. Tim Grafton is Chief Executive of the Insurance Council of New Zealand. Tim has extensive experience in providing strategic, policy and communications advice to public and private sector leaders. He is a Chartered Member of the Institute of Directors and holds several governance roles. He is VicePresident of the Global Federation of Insurance Associations, Chairs the Code Compliance Committee of the Fair Insurance Code, is the former Chair of the Representative Users Group of the Deep South Science Challenge which focuses on research to adapt to climate change, and is on the New Zealand Advisory Board of the Australia and New Zealand Institute of Insurance and Finance, the Advisory Board of Victoria University, Wellington’s Chair in the Economics of Disasters, and served on the Advisory Committee on the Upgrade of the National Seismic Hazard Model. He has also served on the Governance Committee of the Residential Advisory Service, the Earthquake Support Coordinators Committee and the Chief Executives Group for the Canterbury Earthquake Recovery. 2023 New Zealand Insurance Industry Awards
SARAH KNOX Consumer Affairs Manager Insurance Council of NZ
CAROLINE LABAND Partner Wotton + Kearney
SARA MALINS General Manager of Operations Sedgwick New Zealand
GLEN PHILLPOTTS New Zealand Operations Manager ANZIIF
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Sarah Knox is the Consumer Affairs Manager at the Insurance Council of NZ. She is responsible for working with the general insurance sector to improve customer outcomes and provide consumer views to members. Sarah also runs the industry’s Personal Lines (home and contents), Employment and Education and Consumer Advisory committees as well as the Vulnerable Customer Learning Group. She takes a leading role in coordinating the insurance industry’s response to emergency events and ICNZ’s financial capability programme. She holds a MSc (Distinction) in Responsible Business Practice from the University of Bath UK and a Bachelor of Management Studies (Honours) from the University of Waikato. Caroline is a Partner at Wotton + Kearney and has over 20 years’ experience in handling contentious insurance issues, with a focus on complex claims. She regularly provides coverage advice material damage/business interruption policies and on D&O and financial institution claims, including class action litigation. Caroline has worked in New Zealand and the United Kingdom on matters involving litigation up to Supreme Court level. Caroline has been recognised for the calibre of her work including being listed in The Legal 500 and Chambers rankings and being named by NZ Lawyer and Insurance Business NZ as a 5-Star Award winner. Outside of her core responsibilities, Caroline is a Trustee of the Auckland Community Law Centre, and a Director on the Board of Justitia - a society which has provided risk management and professional indemnity insurance solutions to legal practitioners since 1985. Sara is the General Manager of Operations for Sedgwick New Zealand and is responsible for delivering service excellence for all operations across the Sedgwick New Zealand business. Sara started her insurance career in 1988 in the claims team of an insurance company and then joined the marine team at Cunningham Lindsey in 1990. During her tenure, Sara has held a wide variety of roles including loss adjuster, branch manager, quality and training manager prior to being promoted to the executive team as regional manager, and then General Manager of Operations. Sara specialises in the development, education and training of Sedgwick colleagues, holds a certificate in Business Studies and is an ANZIIF (Snr Assoc) CIP, the Chairperson for ANZIIF NZ Members Advisory Board and a member of the ANZIIF Claims Faculty board supporting and promoting professional development in the industry. Glen joined ANZIIF in 2020, after being a supportive client of ANZIIF from a large New Zealand brokerage firm. Glen’s role in that business was to head up Learning and Organisational Development function, so he fully understands the needs of our learners and our clients. Glen’s career in Learning, has seen him prosper in many types of companies, not just insurance. He has worked in Publishing, Advertising, Telecommunications, FMCG, IT and even owned his own restaurant.
2023 New Zealand Insurance Industry Awards
MARK SILVEIRA General Manager Industry Engagement
ANZIIF
KAREN STEVENS Insurance & Financial Services Ombudsman
MARTIN STROUD National Liability Manager
NZI
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Mark is known as a highly innovative, strategic business relationship development professional, with a successful background in general insurance and financial services, not-for-profit 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 co-founder and host of the podcast series – Business Made Personal.
Karen is the Insurance & Financial Services Ombudsman, appointed in May 1998. She graduated with BA/LLB degrees from VUW and was admitted as a Barrister and Solicitor of the High Court of New Zealand in 1987. Karen began her career as a civil litigation lawyer and moved into alternative dispute resolution, qualifying as an Associate of the Arbitrators’ and Mediators’ Institute of New Zealand, a Member of the Chartered Institute of Arbitrators (UK), a Fellow of the New Zealand Institute of Management, and LEADR mediator. In 2009, Karen completed an LLM from La Trobe University, Melbourne, majoring in conflict resolution. Karen is a media commentator on insurance for radio, television and print media. She frequently speaks at national and international conferences, being a founding member of the Australian and New Zealand Ombudsman Association and the International Network of Financial Services Ombudsman Schemes, of which she is also a past Chairperson.
Martin started his insurance career in South Africa. He worked as a property underwriter specialising in mining and petrochemical. He then moved into reinsurance writing both facultative treaty and retrocession accounts. In 1988 he emigrated to New Zealand and once again was a reinsurance buyer which he did until 1996 when he moved to Australia to be the Technical and Reinsurance Manager for AMP General and then Allianz Australia. Moving back to New Zealand in 2004 he held the roles of Technical and Reinsurance Manger of QBE and was one of the founding shareholders of DUAL New Zealand where the held the role of Chief Operating Officer and the Underwriting Director. Since 2018, Martin has been at NZI, and is now the company’s National Manager, Liability. During his career, Martin has been a speaker at various ANZIIF conferences, and an expert witness for mediations and in the High Court. He has also appeared as an expert in a number of reinsurance arbitrations.
2023 New Zealand Insurance Industry Awards
CONGRATULATIONS TO THE 2023 AWARD WINNERS Large Broking Company of the Year
General Insurance Company of the Year
MARSH NEW ZEALAND
FMG
Broker Network of the Year
Claims Team of the Year
INSURANCE ADVISERNET NEW ZEALAND
AA INSURANCE
Underwriting Agency of the Year
Life Insurance Company of the Year
UNDERWRITING AGENCIES OF NEW ZEALAND
ASTERON LIFE
Insurtech Start-up of the Year SIMFUNI
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2023 New Zealand Insurance Industry Awards
Professional Services Firm of the Year
Young Insurance Professional of the Year
MCLARENS NEW ZEALAND
ISABELLE KWEK
Service Provider to the Insurance Industry
Insurance Leader of the Year
REDBOOK
AMANDA WHITING
Excellence in Workplace Diversity and Inclusion
ANZIIF Lifetime Achievement Award JOHN STUBBS
AIA NEW ZEALAND
Excellence in Environmental, Social and Governance Change AIA NEW ZEALAND
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2023 New Zealand Insurance Industry Awards
Confidence is everything. Tightrope walking is simple. There’s only one blatantly obvious thing to worry about. If you’re in business there are a million things to worry about. So it’s reassuring for you and your customers to know you have the support of New Zealand’s largest, most experienced business insurance company. NZI have always been here to help when things go wrong, but also to reduce the chance of that happening in the first place. We value our broker relationships and know that by working closely together we can take away some of those worries – and help businesses move ahead with confidence.
Peace of mind for NZ business PAGE 12
2023 New Zealand Insurance Industry Awards
LARGE BROKING COMPANY OF THE YEAR
Marsh New Zealand
Congratulations to Marsh for winning the Large Broking Company of the Year award for the second year in a row. Judges praised the organisation for its sophisticated, well formatted submission which concisely answered all the criteria and provided plenty of data and examples to support a diverse array of robust achievements. In particular, the panel was impressed with initiatives undertaken to increase client satisfaction by expanding Marsh’s Chief Client Officer (CCO) network to provide dedicated CCOs for each customer segment. Marsh executives phoned clients directly to check-in and connect, and facilitated client vulnerability assessments which were discussed monthly. As a result, the company’s NPS score and client retention rate for the period were excellent. A notable innovation is Marsh’s award-winning ESG Risk Rating (ERR) tool described as a crucial piece of infrastructure to measure an organisation’s ESG change, as evidenced by a detailed client case study. Marsh plans to have all clients complete an ERR.
Judges also pointed to the partnership established between Marsh Insurance Premium Funding and Clearmatch to offer preferential financing rates on premium funding to clients who are committed to successfully integrating ESG into their business. The company was applauded for its strong people strategy and community involvement which included improving psychological safety at the company, professional development opportunities such as a new learning platform designed to give colleagues a pathway to upskill and connect, and the launch of a “Monthly People Manager Forum” to invest in people managers and ensure they have key business updates. The MMC Learning Festival and Marsh Learning Days provide dedicated time for colleagues to invest in themselves and focus on their career goals. Marsh’s strong internal engagement and low turnover reflect the effectiveness of its strategy. Significant effort is put into reducing Marsh’s carbon footprint and a highlight of its charity work is a contribution of presents to underprivileged kids at Christmas. Sponsored by
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2023 New Zealand Insurance Industry Awards
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2023 New Zealand Insurance Industry Awards
BROKER NETWORK OF THE YEAR
Insurance Advisernet New Zealand
Insurance Advisernet New Zealand (IANZ) is a worthy winner in this category, with a concise submission demonstrating high quality data to support its results including strong NPS scores across the board from its broker and client partner networks down to its own people. The fastest growing network in New Zealand, IANZ increased GWP by nearly 20 per cent in FY 21/22, and more than 30 per cent of its 55-strong insurance practices grew their businesses by over 20 per cent. Judges acknowledged IANZ for its maturity and clear understanding of the human element evidenced by a robust structure in place to achieve internal, stakeholder and community milestones. They noted that IANZ’s relationships stretched well beyond product offerings and crossselling into the arena of true collaboration and shared incentives. For example, an emphasis on supportive training for insurers and underwriters in response to regulatory changes in New Zealand was commended. Client satisfaction
hit more than 95 per cent in 2022 on the back of steady improvement over the last three years, and retention reached over 85 per cent. IANZ was also applauded for its vast array of excellent tools and initiatives to ensure brokers and advisers continue to thrive. Notably, assistance is provided to help these insurance professionals transition to business ownership, including a comprehensive induction program and critical business management tools. The company’s internal Learning and Development (L&D) approach was also highly praised given the difficulties associated with implementing non-core initiatives in a small business. In 2022, IANZ employed a dedicated L&D manager in New Zealand and produced a highly detailed L&D roadmap incorporating inclusiveness, data driven experiences and empowerment. The average tenure at the company is nine years. IANZ’s strong commitment to the support of local communities saw donations of over $75,000 made to charity. Sponsored by
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2023 New Zealand Insurance Industry Awards
Success for Underwriting Agencies Through inclusion and influence NZUAC congratulates the Underwriting Agency of the Year
Providing guidance and support to its Underwriting Agencies on industry issues, market trends, emerging risks, and regulatory changes. NZUAC promotes professionalism, best practices, and innovation within the underwriting agency sector in New Zealand - www.nzuac.org.nz For more information contact us at nigel@nzuac.org.nz PAGE 16
2023 New Zealand Insurance Industry Awards
UNDERWRITING AGENCY OF THE YEAR
Underwriting Agencies of New Zealand
Newcomer, Underwriting Agencies of New Zealand (UANZ) won this category with a wellwritten, submission and a compelling story which articulately presents the organisation’s points of difference. Strong initiatives are supported by data collected over five years, with NPS scores showing an impressive upward trajectory. For a smaller organisation, the investment in learning and development (L&D) and safety was highly commended. UANZ’s bespoke risk portal enables the tracking of risk incidents, timely reporting, and meaningful analysis. In particular, the judges noted that the portal features a peer review system, which promotes continuous improvement. UANZ’s key people initiatives demonstrate best practice commitment to diversity and inclusion, including flexible working conditions for all employees, group insurance for eligible staff, and gender-neutral paid parental leave for up to 12 weeks. Weekly fruit baskets and fortnightly corporate massages promote healthy habits and
FINALISTS
reduce stress in the workplace. The organisation also makes a point of hiring primarily entry-level positions, to bring in individuals with diverse backgrounds and no prior insurance experience. Judges further applauded the organisation’s introduction of SAP Litmos, an interactive platform to help track and accelerate employees’ learning journeys. UANZ staff can access fully funded studies at ANZIIF and higher education opportunities both locally and overseas. In addition, an ongoing collaboration with Mental Health Movement (MHM) allows UANZ to provide staff with mental health awareness, education, and training. The effectiveness of these initiatives is reflected in staff retention and engagement figures above 90 per cent and a turnover of below 10 per cent. In the community, UANZ supports industrial health and safety in New Zealand by investing in the crane industry and it reaches beyond home shores to support the Kaiviti Silktails in Fiji.
Sponsored by
Delta Insurance Underwriting Agencies of New Zealand
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2023 New Zealand Insurance Industry Awards
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2023 New Zealand Insurance Industry Awards
GENERAL INSURANCE COMPANY OF THE YEAR
FMG
FMG is the winner in this competitive category due to its data-rich, well-presented submission, highlighting strong initiatives and a resulting robust client retention rate.
Also of note, was the company’s FY 2022/23 rollout of the Insurance Professional Framework (IPF) to meet new regulatory standards of professional conduct for servicing clients.
Judges were extremely impressed with the company’s updated five-pillar strategy, which clearly aligns with decision-making processes and outcomes, both within the business and externally.
The panel was awed by FMG’s people initiatives, starting with an agreed salary for all new employees to ensure remuneration above the living wage. The company partnered with such organisations as Safetrac, Deloitte and PWC, to build world-class wellbeing offerings and implement human centred design.
Particularly notable is the level of customer satisfaction research undertaken incorporating independent agencies, online surveys, client panels and written customer care stories contributed by employees.
FINALISTS
AA Insurance Chubb Insurance
While many companies implemented strategies to cope with the weather events of early 2023, FMG distinguished itself by implementing the RAPID decision-making model to allow senior leaders to be moved to places they might be needed around the organisation. Individuals with claims experience were retrained, certified EQC assessors were deployed and 6000 east coast clients were offered assistance and support within two weeks.
For the second year in a row, FMG was the only New Zealand business to be recognised with a “Gallup Exceptional Workplace Award” for significantly high employee engagement, professional development and culture. Judges commended FMG’s ongoing sustainability efforts and were inspired by the company’s 2022, collaboration with Melanoma New Zealand’s “Spot Check Roadie’, which resulted in free melanoma checks for 759 people and found 113 suspicious lesions, 14 of which were suspected melanomas.
Sponsored by
FMG Vero Insurance New Zealand
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2023 New Zealand Insurance Industry Awards
The Corporate Supporter network comprises a diverse group of companies, large and small, all sharing the same desire to see the industry and its people succeed.
CORPORATE SUPPORTER PROGRAM PAGE 20
COMMITMENT
BRAND AWARENESS
CAREERS IN INDUSTRY RESEARCH INSURANCE SUPPORT 2023 New Zealand PROGRAM Insurance Industry Awards
CLAIMS TEAM OF THE YEAR
AA Insurance
AA Insurance is congratulated for winning this competitive category, having nurtured its top performing team to achieve remarkable results in an undeniably difficult period for claims professionals in New Zealand. Customer experience and loyalty were a highlight in this submission, with unequivocal data revealing the company’s consistently high NPS scores across three lines of business since 2020. An unprecedented supplier satisfaction score above 95 per cent this year (up from more than 90 per cent last year) was also a talking point for the judges. The panel praised the AA Insurance business for its maturity and attention to detail, in particular, its investment in claims lodgement and fulfilment processes including a detailed dispute resolution procedure which regularly exceeds FIC standards and incorporates a dedicated Customer Resolution Service (CRS).
FINALISTS
AA Insurance was also applauded for acting on its learnings from the major weather events which resulted in a collaborative effort between the company and its shareholder NZAA to implement more face-to-face insurance support on the ground at the Muriwai, Napier and Hastings local Civil Defence Centres. The company’s people development approach was considered world-leading, with a range of excellent initiatives. Some of these included executive-sponsored voluntary employee-led action groups, inclusive recruitment practices, inductions in partnership with the Learning and Development team and a job resizing exercise with pay increases. AA Insurance’s Claims Team engagement scores are understandably in the top 25 per cent of New Zealand companies. In addition, the company was commended for its contribution to a 13 per cent drop in motor claims through public awareness campaigns sharing safety tips for summer including how to deter thieves.
AA Insurance Chubb Insurance Gallagher Bassett Runacres Vero Insurance New Zealand
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2023 New Zealand Insurance Industry Awards
Congratulations to this year’s Life Insurance Company of the Year
When protecting your future matters
Life & Health As a leader in risk and claims management since 1962, we prioritise safeguarding your company, people, and customers. Our experienced team focuses on building trust in your brand with your customers, especially in Life & Health coverage in New Zealand. Trust Gallagher Bassett to deliver what matters most. gallagherbassett.co.nz PAGE 22
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2023 New Zealand Insurance Industry Awards
LIFE INSURANCE COMPANY OF THE YEAR
Asteron Life
Asteron Life is taking home the Life Insurance Company of the Year Award for the fourth time, having also won the award in 2013, 2014 and 2021. This year, the company’s solid submission highlighted significant results and initiatives, and thoughtful solutions implemented to remedy identified gaps. Judges praised Asteron’s Voice of Customer (VoC) program, which provides insights into the customer experience, noting both the company’s high customer satisfaction scores overall and its honestly shared, swift responses to feedback. For example, in 2022, a focus on contact between Asteron Life advisers and customers prompted a detailed breakdown of detractor data, resulting in the implementation of training and support for advisers. Following feedback showing “affordability” as a pain point in early 2023, attention was directed to helping customers develop affordable levels of cover and build long-term financial resilience. In addition, Asteron’s policy wording was accredited with the WriteMark standard, ensuring content in policies is easy to understand for customers.
The company’s planned growth through an upgrade to its underwriting rules engine was acknowledged for quickly contributing to processing improvements, point-of-sale outcomes and claims delivery. The Judging panel was awed by Asteron’s variety of customer and people initiatives. Of particular note was Connected Care, an extension of the company’s Best Doctors telehealth service, and automatic premium relief for vulnerable customers incorporating additional reinsurance support where required. In 2023, a new “Kids Cover” product will provide support for employees with a child diagnosed with a serious medical condition, and the Life Claims team partnered with Abacus to introduce a “Professional Supervision Programme” to help claims assessors manage stress. In November 2022, Asteron, as part of Suncorp New Zealand, launched Spirit-to-Cure, step-up challenge events in Auckland, Wellington and Christchurch, and a virtual challenge, all to fundraise for cancer research, support and prevention.
Sponsored by
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2023 New Zealand Insurance Industry Awards
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anziif.com To find out how Manheim can help maximise the return on your assets contact us today on 09 918 0500 PAGE 24
2023 New Zealand Insurance Industry Awards
INSURTECH START-UP OF THE YEAR
Simfuni
In a worthy field of candidates, Simfuni won the day with its pure insurtech play offering the potential to improve insurance customer experiences and business outcomes across the New Zealand insurance market. While judges felt it was too early to expect definitive results from the start-up, they were highly impressed with its compelling submission and product. Launched in 2022 as a privately owned New Zealand business, Simfuni provides digital payment tools enabling insurance brokers to complete sales quickly and easily while delivering transparency for all the stakeholders involved.
FINALISTS
Bounce Insurance InsuredHQ Loop Logics Morgan Project Services
Specifically designed to meet the distribution needs of brokers, the Simfuni platform is an API-based insurance premium payment software. A modern, e-commerce checkout, it incorporates payment options into invoices or via SMS, QR code or a link. Simfuni is commended for its well-articulated discussion of customer pain points as the basis for its business model. For example, Simfuni notes that wait times for premium funding
quotes can be days and on average, fewer than 35 per cent of customers are offered premium funding as an option. Meanwhile, brokers pay staff for manual reconciliation processes, chasing late payments and making expensive, risky credit card transactions over the phone. With Simfuni, policy holders can manage their premiums by instalments, brokers can streamline their billing and payment functions to allow a greater focus on building their business, while premium funders can seamlessly expand their services to Sinfuni’s entire customer base. Judges noted the simplicity and clarity of Simfuni’s revenue model, which is based on once-off and regular transaction fees from policy holders, premium funders and brokers. Simfuni was also praised for its meticulous development process incorporating direct working relationships with brokers across New Zealand who became the company’s clients and consistently provide feedback as the start-up builds and iterates. It was noted that Simfuni’s core product can easily scale and expand into new areas such as compliance and security. Sponsored by
Simfuni
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2023 New Zealand Insurance Industry Awards
PROFESSIONAL SERVICES FIRM OF THE YEAR
McLarens New Zealand
McLarens is applauded as this year’s Professional Service Firm of the Year, with standout submissions for three consecutive years since 2021in a hotly contested category. The business was noted for its thorough customer satisfaction data analysis, yielding robust results. The detailed and honest focus on where services could be improved was commended, particularly in relation to catastrophe claims, which required faster turnaround times and better communication. Judges were impressed with the agility of the McLarens “Scoping and Pricing Project” on the back of IAG’s decision, at short notice, to change its assessing model in the wake of the January weather events. McLarens created systems and processes virtually overnight with the help of its building consultancy and network partners Mode and ModeConnect. As a result, 3,019 properties were scoped in 10 weeks and a further 1630 by the end of 15 weeks.
FINALISTS
Finity McLarens New Zealand
People strategy and initiatives at McLarens were a significant highlight, such as the investment in new recruitment, induction, workplace management and career advancement systems and processes resulting in time savings and improved scores. Notably, a new, dedicated
Learning, H&S and Compliance Officer was appointed, providing improved health and safety workflows and better contractor management. Staff engagement and retention were excellent due to numerous initiatives across wellness, staff rewards and recognition, support and professional development. In particular, judges pointed to the company’s diversity and inclusion steering committee, dedicated ESG intranet channel and activities calendar. Training and development across several technical and soft skills were well attended. Judges also agreed McLarens had developed a best practice environmental strategy incorporating a variety of practical actions, from the engagement of Planet mark to validate emissions reduction targets, to the purchase of hybrid vehicles and the contribution to reforestation. In addition, the company was applauded for its many, significant community activities, notably CommUNITY, a global, responsible business program designed to support communities through charitable initiatives including donating to Ronald McDonald House and the Cancer Foundation.
Morgan Project Services Sedgwick
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2023 New Zealand Insurance Industry Awards
SERVICE PROVIDER TO THE INSURANCE INDUSTRY
RedBook
Congratulations to RedBook, a provider of vehicle valuation, identification and pricing, for being awarded Service Provider to the Insurance Industry. The company’s compelling submission was acknowledged for highlighting a customer first approach, innovative business strategy, and commitment to people and the community. Part of the carsales.com group, RedBook has been operating with just one office in New Zealand since 1983. In Auckland it currently has just eight staff. Judges were impressed with the company’s year on year growth of more than 100 per cent since 2020, supported by a diverse and growing insurance customer base. Robust customer satisfaction data and 100 per cent client retention over the last three years demonstrate RedBook’s commitment to top level service and continuous improvement. Faced with an extra 9700 manual vehicle price adjustments per month, the company was praised for developing PAUL (Price Adjustment Up-Loader) to automatically update the system in minutes. Judges also called out RedBook’s detailed strategy for enhancements to PAUL
which will allow seamless integration of pricing adjustments, external vehicle matches and insights into New Zealand market trends. Customers will soon be able to check rego, licencing, PPSR, and vehicle history information. RedBook wowed the judges with its progressive and flexible staff benefits such as gender and domestic violence leave, mental health days, volunteering leave and public holiday swaps. These along with professional development initiatives such as Supercharge, a bespoke framework to support performance management, development and careers, have contributed to near perfect retention, strong engagement and staff confidence in the business and its leaders. RedBook was also commended for being a Carbon Neutral organisation with Climate Active Carbon Neutral Certification, and what the judges thought must be a record for the lowest use of paper in a year (four reams). Shocked by Auckland’s floods, the RedBook team created an Environment and Community Officer role and rallied themselves for a beach clean.
FINALISTS
IVAA RedBook
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2023 New Zealand Insurance Industry Awards
Life is full of unexpected twists and turns so it’s important to be prepared for the worst.
What’s your Plan B? PAGE 28
2023 New Zealand Insurance Industry Awards
EXCELLENCE IN WORKPLACE DIVERSITY AND INCLUSION (D&I)
AIA New Zealand
AIA New Zealand is this year’s winner for excellence in workplace diversity and inclusion, with a submission presenting clear and compelling strategies and initiatives implemented over time to reach best practice. Starting with the company’s Diversity, Equity & Inclusion (DE&I) strategy, bias has successfully been reduced in an ongoing zero tolerance approach to harassment and discrimination. AIA addresses six segments: gender, accessibility, LGBTTQI+, age, culture, and Māori & Pacific. Each group is supported by an executive sponsor and at least one employeeled network group, with all leaders expected to take responsibility for DE&I measures in recruitment, development, remuneration and the overall workplace environment. Judges noted the active nature of AIA’s Tūhononga network group which supports its Māori and Pacific segment to increase karakia practice and the use of te reo Māori, including a week of activities for Te wiki o te reo Māori. Also applauded was the Accessibility Committee
FINALISTS
AIA New Zealand
which recently achieved external recognition with an Accessibility Tick. Celebrations include International Wheelchair Day, NZ Sign Language Week, Global Accessibility Day and International Day of Persons with Disabilities. A standout for the judges was AIA’s Menopause Toolkit initiative, off the back research showing that women over 50 are the fastest growing workplace segment, and that 60 per cent of women with menopause symptoms experience a significantly negative impact on wellbeing, including a reduction in attendance, performance and engagement. The initiative incorporates manager upskilling, internal and external webinar speakers, the celebration of World Menopause Day and the review of policy and processes. The company now provides desk fans and incorporates greater flexibility for women, such as the ability to “dress for comfort”. Judges also praised AIA for transparently addressing the company’s gender pay gap with employees to promote discussion. Sponsored by
IAG New Zealand Zurich New Zealand
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2023 New Zealand Insurance Industry Awards
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2023 New Zealand Insurance Industry Awards
EXCELLENCE IN ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) CHANGE
AIA New Zealand
Finalists were neck and neck in this closely contested category, but judges agreed AIA New Zealand broke away to take out its second award in this year’s winner’s lineup. The company is congratulated for its attention to detail in a submission that addressed all the criteria and demonstrated the alignment between strategy, measurement and initiatives. Judges were impressed with AIA New Zealand’s five-pillar ESG strategy incorporating sustainable operations, investment, health and wellbeing, people and culture and effective governance. AIA New Zealand has committed to net zero by 2050, and science-based targets are set to reduce scope 1 and 2 emissions to zero by 2030. To that end, Judges commended the company’s ambitious actions, including having new buildings align to industry-recognised green standards, encouraging improvements in vendor ESG performance and managing waste. Within the awards period, AIA New Zealand reduced Scope 1 emissions by more than 30 per cent and Scope 2 emissions by almost 25 per cent.
FINALISTS
AIA New Zealand
Also notable, is AIA New Zealand’s commitment to ethical investment evidenced by its
engagement with investee companies, dedicated investment team training, and the broadening of its portfolio to include green bonds, sustainability bonds, renewable and alternative energy and infrastructure. AIA New Zealand made enhancements to its rigorous ESG governance in 2022, supported by its Board ESG Committee (BESG), ESG pillar workstreams, ESG function and Sustainability Champions. Judges pointed to AIA New Zealand’s “core pillars” which direct workstreams whose representatives hold responsibility for ESG strategic priorities across the organisation including the measurement of progress. ESG data controls in place align with the International Sustainability Standards Board. Judges also applauded AIA New Zealand’s 2022 co-created employee wellbeing strategy, Whai Ora, meaning to strive for health, vitality and life. Its first Whai Ora Day included hosting a range of wellbeing partners onsite and contributed to a 118 per cent increase in the number of employees engaging in wellbeing offerings.
Sponsored by
Zurich New Zealand
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2023 New Zealand Insurance Industry Awards
YOUNG INSURANCE PROFESSIONAL OF THE YEAR
Isabelle Kwek
Wotton + Kearney New Zealand Associate Isabelle Kwek has been awarded 2023 Young Insurance Professional of the Year from another field of excellent candidates. Isabelle advises clients at all stages of litigation, tribunal, disciplinary and complaints proceedings, including mediation. She has experience across many different types of insurance claims, including professional indemnity, general insurance and life insurance. She also specialises in medico-legal law and life sciences, as well as the evolving regulation of financial services and insurance in New Zealand.
FINALISTS
As part of her legal honours program at Auckland University, Isabelle authored a medicolegal research paper on elder law and advance care planning, and an honours dissertation entitled “Finding a New Direction: The Future of Insurance Regulation in New Zealand”.
Leigh Bennett
In August 2019, she was accredited as an ADR ODR International Civil Commercial Mediator.
George Dmitriev
At the age of 19, Isabelle accepted a part-time role with Fidelity Life, where she quickly became inspired by the important role of insurance.
Fidelity Life Assurance Company Insurance Underwriters NZ
Miro Dordevich
After graduating, she joined DLA Piper and in 2022 moved to Wotton + Kearney. She was promoted to Associate this year. Judges were moved by Isabelle’s passion for alternative dispute resolution, and her aspiration to build a mediation practice specialising in disputes with an insurance element. An accomplished insurance legal professional, Isabelle’s ability to empathise with clients facing a dispute in difficult circumstances was evident in a highly articulate submission, along with her commitment to promoting diversity and creating opportunities for others in the legal and insurance industries. Judges were also highly impressed with Isabelle’s long list of achievements, some of which include contributing to the development of a new liability insurance product following clinical trials in New Zealand, assisting a defendant through a sensitive and complex conciliation process before a Human Rights Review Tribunal hearing, and assisting an insurer through a judicial settlement conference following an alleged non-disclosure and insurance fraud.
Delta Insurance
Isabelle Kwek
Wotton + Kearney
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2023 New Zealand Insurance Industry Awards
INSURANCE LEADER OF THE YEAR
Amanda Whiting
IAG New Zealand CEO Amanda Whiting is this year’s Insurance Leader of the Year. Judges described Amanda, who has been a leader of note in the industry for over 20 years, as “a visionary CEO” with a track record of fostering innovative and diverse workplaces that deliver exceptional culture and customer-centred outcomes. Originally from Western Australia, Amanda has held senior positions in both general and health insurance as well as telecommunications. She joined IAG in Sydney in 2008 and has held several key roles within the organisation before she was appointed Chief Executive of the New Zealand business in July 2021. Known for not taking herself too seriously, Amanda is passionate, optimistic and persistent, citing her personal focus as continually creating opportunities for herself and others to learn and grow. Judges noted that during her tenure with IAG, Amanda distinguished herself by delivering the first ever automated insurance advice model for SMEs in Australia as well as leading award-
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winning insurance experience teams that delivered record employee net promoter scores. She tirelessly contributes to the industry, through several internal and external boards and committees including the Climate Leaders Coalition, Sustainable Business Council, Global Women and Champions for Change in New Zealand. She is also Vice President of the Insurance Council of New Zealand Board. Judges also hailed Amanda’s work in difficult circumstances as Chair of the Cyclone Taskforce Insurance Subgroup, which spearheaded the recent disaster response, recovery, and next steps alongside central and local government. Of particular note, is the Subgroup’s novel approach to sharing claims data and applying it to models that are helping councils make decisions about how to categorise vulnerable properties. Amanda is congratulated for taking work forward to develop an industry position on addressing insurance affordability and strengthening resilience.
2023 New Zealand Insurance Industry Awards
ANZIIF LIFETIME ACHIEVEMENT AWARD
John Stubbs
ANZIIF’s coveted title of New Zealand Lifetime Achiever has been awarded to John Wiseman Stubbs, former General Re New Zealand Facultative Underwriter. An ANZIIF member since 1972 when he joined the industry, John was Gen Re New Zealand’s Property Facultative Manager between 1987 and April, 2023, at the time he retired. Judges described John as a man of great integrity and ethics, with insurance technical knowledge that’s second to none. They noted that John draws people in with a coaching and learning style that makes insurance exciting. He has been a font of knowledge for many aspiring property underwriters. His contribution to the post Canterbury landscape was significant, and he served on many industry committees. John’s mission was to help develop better underwriters and improve the industry. He joined South British Insurance in Takapuna straight out of school through his father’s connection with the then manager Eric Granger. While his initial motivation was to upgrade his
Honda 50 Cub and purchase a Candy Apple red Honda CB 125, John fell in love with the industry and has worked in the non-life sector ever since. Starting as the office junior cleaning ants out of the coffee dispenser, John progressed to servicing direct commercial clients within two years, at the age of 19. He witnessed rapid changes during his early years in insurance, including the introduction of market driven pricing and associated new products, intermediation by brokers, and computers. In 1980, John took up the role of Broker Liaison Officer at Norwich Winterthur with Alan Cameron and Graeme Lynskey as his managers. Over his eight years at the company, savage pricing wars sowed the seeds for the market disruption of the 1990s. In June 1987, John joined The Cologne Re “just in time for the Bay of Plenty Earthquake, Cyclone Bola and the Global Financial Crises”. At that time, New Zealand was home to seven reinsurers.
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2023 New Zealand Insurance Industry Awards
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During the 1990s, the price cutting of the late 1980s and capital stresses resulting from the 1987 GFC led to massive restructuring in the insurance and reinsurance industry. Many old names disappeared through mergers. The early 2000s led to insurance pricing stability. Computer systems were recording policy data and the rise of the analytical tools required by regulators and shareholders led to a more professional and sustainable industry. John stayed on when The Cologne Re was bought by General Reinsurance (Gen Re) in 1995. He says one of his best decisions as manager in 1997 was to employ Sue Gilroy who worked
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with him to smooth the volatility of difficult or large risks, help new businesses grow and be the “eyes and ears” of the company. John believes himself very fortunate to have worked with a business skilled enough to survive and thrive in such a difficult market. “I have made many friends both internally within Gen Re and externally with clients,” he says. “Volatility makes the industry so interesting. Change is constant. Insurance needs young people with common sense and with different personality types and skills. They will learn and be rewarded with a journey that is always challenging and never dull.”
2023 New Zealand Insurance Industry Awards
THE LAST WORD The last few years have been tumultuous, to put it mildly. You know it, we know it – and we’re all a bit over it (also putting it mildly). At the same time, events like these ANZIIF Awards allow us to showcase so much that is good. How wonderful it is to see companies and individuals submitting examples of their work to foster more equitable workplaces, to create better customer outcomes, and to showcase outstanding members of the insurance community. How marvellous it is to see insurers and providers stepping up to give customers extra support and care in the wake of unprecedented weather events. Insurance is an industry that is skilled in dealing with disruption. Perhaps this is part of what drives us to innovate. We surely have many more challenges ahead of us, but also hopefully many exciting innovations. We are already beginning to see, for example, the possible impact of AI in improving customer communications experience and claims processing times. Who knows what else is around the corner? Deloitte is excited to be a part of the evolving industry, giving insight and support in a changing technological landscape, focusing on sustainability, and providing exceptional service to its customers. We at Deloitte would like to thank the ANZIIF team for their hard work and for the opportunity to scrutineer the judging process. We wish all nominees and winners our sincere congratulations and best wishes for their continued success.
Lee-Ann Du Toit National Lead Partner, Insurance Sector
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2023 New Zealand Insurance Industry Awards
THANK YOU ON BEHALF OF ANZIIF THANK YOU FOR SUPPORTING OUR INDUSTRY AND THE 11TH NEW ZEALAND INSURANCE INDUSTRY AWARDS
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2023 New Zealand Insurance Industry Awards