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Send  Share  RSS  Twitter  21 Jun 2012

INSURANCE: Altrisk Named Long Term Insurer Of the Year


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Long term specialist risk provider, Altrisk, has been named the “Long Term Insurer of the Year – Risk Products” at the annual Financial Intermediary Association (FIA) awards held recently.

The FIA represents the interests of more than 15 000 financial intermediaries and the FIA Awards provide intermediaries with the opportunity to recognise the leading product suppliers in the financial services industry.

Altrisk came out in poll position in the ‘long term insurer of the year – risk products’ category based on customer satisfaction surveys conducted among the FIA’s members by an independent research company. The three main criteria assessed are product quality, service quality and relationship quality.

“It goes without saying that for Altrisk, the intermediary channel is crucial. We remain committed to distributing our products exclusively via the intermediated channel and support the role of the broker in growing consumer awareness and education when it comes to holistic financial planning,” explains Michael Blain, managing director of Altrisk.

“The proliferation of products, their features and promises is enough to make the most informed consumer’s head spin. In this context, the need for advisors in the South African market has never been greater. At the same time, our view is that as a product provider we should be doing everything we can to alleviate the pressure where we can, keeping in mind the objectives of the planning process. It goes without saying that the simpler products are more easily understood, leading to a better match with clients’ genuine needs identified in the planning process. This simplicity extends from product features and benefits through to general exclusions, simpler quote systems, simpler applications and simpler ongoing management.

“We are delighted to be recognised by the FIA and financial advisors across the industry. As they deal with the vast array of benefits, services and brands on offer on a daily basis, financial advisors are best primed to judge the relevance of our products and benefits and our service offering in relation to our peers. It’s an honour to be recognised as the leader in this regard. We will continue to provide innovative products, solutions and pricing, matched with our commitment to simplicity and integrity. We believe in enabling brokers to fulfil a challenging but crucial role in making sure South African families are taken care of through all of life’s ups and downs,” says Michael.

Altrisk was established in 1999 by co-founders Dalene Allen and Nick Stern with the backing of the Hollard Group and Hannover Re. Today the specialist risk provider covers over 100 000 lives with sums insured of more than R185 billion.

“The principles behind Altrisk’s growth and success are driven by a company-wide held belief that simplicity in all facets of business dealings with policyholders and brokers is fundamental to the creation of a healthy, stable and professional industry and in turn, better informed and appropriately covered clients,” concludes Michael.

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