Allianz named Large General Insurance Company of the Year

August 23, 2012 (PRLEAP.COM) Business News
Allianz is proud to be named the winner of the Large General Insurance Company of the Year Award at the 2012 Australian Insurance Industry Awards.

The 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 Large General Insurance Company of the Year Award, which is the third time we have been recognised in this category."

"The Award is recognition of Allianz's dedication to constant improvement and innovation. Our commitment is to provide our customers with the best possible service, particularly, during their time of need. We are also committed to ongoing employee development and training programs; flexible and competitive product offerings; a strong focus on corporate social responsibility; and value for our partners and stakeholders," Mr Towell said.

The Award is judged on a comprehensive range of criteria. Addressing the criteria in its submissions, Allianz highlighted:

Customer Focus - 2011 saw eight major catastrophes, in particular the Queensland Floods, Cyclone Yasi and the Melbourne Hail Storms. For each event, Allianz launched its Event Response Plan to mobilise hundreds of employees across Australia to process more than 10,500 additional event-related claims.

Despite these events, Allianz has continually improved its claims performance by establishing a number of initiatives to build an industry-leading claims service to ensure all claims are managed fairly and consistently.

Strong growth - Allianz delivered strong performance and growth in 2011 and despite an unprecedented number of catastrophes and associated losses, achieved overall organic premium growth of 8.7% while maintaining a strong underwriting profit.

Innovation - Through its innovation program Innov8, Allianz employees generated 1069 ideas aimed at improving our service and processes, 39 percent of ideas submitted have been implemented.

Leadership - Allianz has also taken a leadership position in the rapidly evolving legislative and regulatory environment. Key areas include the various government reviews arising from the 2011 Queensland Floods, the Key Facts Sheet and Standard Definition of Flood; Unfair Contract Terms and Code of Practice changes. Allianz is also represented on a number of industry committees and working groups.

Corporate responsibility - By 2011, Allianz Australia had reduced its greenhouse gas emissions by more than 40% compared to 2006 levels.

"I am proud of the team at Allianz and applaud their dedication to delivering in those times when our customers need us most, something we call 'The Allianz Experience'." said Mr Towell.

Allianz was also a finalist in the Claims Service Provider of the Year category.