Aviva was rated market leader for stand-alone life insurance new business in the independent financial adviser channel for the fourth quarter in a row, according to the report released this month by NMG Financial Services Consulting (NMG).
Aviva was rated market leader for stand-alone life insurance new business in the independent financial adviser channel for the fourth quarter in a row, according to the report released this month by NMG Financial Services Consulting (NMG).
NMG's latest Risk Distribution Monitor report showed that between 1 July and 30 September 2008, Aviva increased its year-on-year sales by 17% in the stand-alone life insurance market to retain the top spot in this fiercely competitive market in the year to September 2008.
According to Stephen Trist, Aviva's group director distribution and marketing, the growth has been as a result of product innovation and quality.
"This is an outstanding result in a highly contested market. We are delighted with the growth in our life insurance business over the last 12 months. This has been due to a mix of product innovation and quality service, which places Aviva in a strong position for continued growth in 2009."
Mark Prichard, executive director of NMG, said: "We've studied the sale and servicing of life insurance policies within the independent adviser market on an in-depth and systematic basis for the past four years. In particular, we've focused on the most productive advisers, which make recommendations across a wide range of insurers as being the barometer of insurer competitive performance. Within this highly competitive segment, Aviva's success has been founded on its consistent performance and life insurance specialisation."
Aviva's life insurance products are available via Riskfirst, a fully automated electronic underwriting system and the first signature free life insurance in Australia, which has cut application times from up to 30 days to as little as 30 minutes.
NMG is consulting and advisory firm focused exclusively on the insurance and investments segments, about which it has built unique information platforms and insights.
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