UniSuper was the inaugural winner of the Best Insurance Offering Award at the Conexus Financial Superannuation Awards 2017.
The $57.5 billion super fund for higher education workers also won Default Fund of the Year, Best Advice Offering, and the prestigious Fund of the Year – the second year running it has taken home the overall award.
The Best Insurance Offering Award was a new addition to the awards line-up in 2017, and judged based on quantitative criteria that covered cost, terms and definitions.
“To win this award the funds had to do well on premiums and features,” award judge and Rice Warner chief executive Michael Rice said. “However, there was a clear winner on premiums, where it was the cheapest in the field by a long way.”
UniSuper chief executive Kevin O’Sullivan acknowledged the fund’s head of product, Ian Lorimer, and executive manager, product, Tim Anderson, for their work in designing an insurance product that struck the right balance to deliver great value coverage, as well as insurance and claims manager Amalia Faber for her oversight of the claims handling process.
“Insurance is a very important component of what we deliver to members and there are two components to a good offering: the product and the claims process,” O’Sullivan said.
“I am very proud of the way the fund shows compassion to our members when they become disabled, and likewise their families when they die.”
The other finalists in the Best Insurance Offering category were Christian Super, EISS Super, MLC Masterkey Business Super.
See the full list of winners across all 12 categories here
More than $86,000 was raised for The Wayside Chapel, which was the charity partner for the the Conexus Financial Superannuation Awards 2017, at the gala dinner to announce the winners in Sydney on March 9. To donate to Wayside click here.