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The BENCHMARK Wealth Management Awards celebrate excellence and recognize companies that strive for best practice in the Insurance sector, whist adding value for customers in the wealth management process. The award categories are divided into distinct sectors, Click below to view more details of each category.

PRODUCTTECHNOLOGYMARKETINGCUSTOMER CAREGOOD GOVERNANCEBROKER OF THE YEARTEAM OF THE YEARCOMPANY OF THE YEAR

1. LIFE INSURANCE

1) TERM LIFE INSURANCE

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product's competitiveness in terms of rates and premiums, flexibility, renewability, cash value and policy convertibility.
  • Future Value – returns on savings, cash balance and life protection.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J 


2) UNIVERSAL LIFE INSURANCE (RMB)

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product’s competitiveness in terms of rates and premiums, flexibility, renewability, cash value and policy convertibility.
  • Future Value – returns on savings, cash balance and life protection.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J 


3) UNIVERSAL LIFE INSURANCE (All Currencies)

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product’s competitiveness in terms of rates and premiums, flexibility, renewability, cash value and policy convertibility.
  • Future Value – returns on savings, cash balance and life protection.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J 


2. HEALTH INSURANCE

1) CRITICAL ILLNESS INSURANCE

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product’s competitiveness in terms of rates and premiums, flexibility, renewability, cash value and policy convertibility.
  • Future Value – returns on savings, cash balance and life protection.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J    C 


2) MEDICAL INSURANCE

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product’s competitiveness in terms of deductible, lifetime payout, renewable provisions, out-of-pocket limits, coverage of emergency medical services, terms for coverage of pre-existing conditions, share of costs, annual limits on coverage and services and dependents inclusion.
  • Business – distribution platform and business growth. .
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.  
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J    C 


3) FEMALE INSURANCE

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product caters to the overall wellness of female customers, including services for physical needs, such as pregnancy and baby arrival, emotional support for trauma, and financial planning, such as savings against income loss and for retirement.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J    C 


3. SAVING & RETIREMENT

1) RETIREMENT PRODUCT

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Product Features – the product’s competitiveness and how well it caters to the retirement needs, life-time payout or guaranteed income payout, annuities and additional optional coverage.
  • Future Value – returns on savings, cash balance and life protection.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to make claims, shop, get quotes and buy products.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:    J    C 


2) INVESTMENT-LINKED ASSURANCE SCHEME (ILAS)

Jurors will evaluate the merits of the entrants based on the following key criteria:-

  • Financial Strength – ratings and sustainability ratios of the company.
  • Range of Investments – types of asset classes, spread of fund houses, risk profiles and quality of investments.
  • Pricing and Liquidity – fees to assist customers in gaining the best cost advantage, flexibility of contract terms, premium holiday bonuses and premium allocation.
  • Product Quality and Safety –the company has a stringent process governing the sales process, from supply chain (product providers and vendors), standards and selection, and governance processes for underlying managers.
  • Early Withdrawal/Surrender Value – returns on savings, cash balance on early withdrawal in part or in full, and life protection.
  • Business – distribution platform and business growth.
  • Social Responsibility – the company carries out rigorous agency and broker training, offers transparency of policies, clarity of marketing materials, accessibility and affordability.
  • Customer Care – the technology adopted by the company allows a streamlined process for customers to withdraw and/or terminate their policy.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria. Also, please submit an illustration of Surrender Values and Death Benefits, based on: a Male, Age 45, initial amount HKD10,000 and a monthly contribution HKD10,000 for a 15 year savings period, based on 3% and 6% growth p.a.

Judging process involves:    J  


1. INNOVATION AWARD

Jurors will evaluate the merits of the entrants based on the following key criteria:-

New for this year, this award is not focused on product or service innovation; rather we are following the buzz word – InsurTech. This means we will be looking at companies who have the right data, systems and channels to join the fintech race. Companies who embrace technology, are smart to use Big Data to understand customers and have an innovative ecosystem to create the most strategic impact should consider entering.  If you have efforts in either or all aspects, such as predictive analytics, enhancing customers’ real-time decision making, acquiring customers, fraud detection, cost savings, developing superb customer engagement, these would all make a good case.   

Since innovation is thinking outside the box, we will therefore not box you into a strict criteria format.  You can go wild within 1,000 words, wow the judges and explain why your company should be proclaimed innovative.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria.

Judging process involves:   J   P   C 

2. VALUE CHAIN MANAGEMENT AWARD

Digital Transformation in the insurance world is changing the role of agencies and brokers. Knowing how to engage distributors in the process is a challenge, yet companies can see tremendous opportunities. We are looking for companies who have an excellent system in place to improve the agency and broker experience, to assist these channels for the transit and to drive profits and adaptability. Companies who have robust strategies and can demonstrate a portal to help channels manage this new environment through uses of social media tools, collaboration through a centralized platform to enhance efficiencies, communication through avenues of discussion forums for knowledge support and sharing, etc. … should consider entering.

In less than 1,000 words, please explain to the judges why your product is suitable to receive the award, in line with the above criteria. 

Judging process involves:    J   P 

3. MOBILE TOUCHPOINTS AWARD

With over 1.8 billion unique subscribers in Asia Pacific and a 94% penetration rate, it is important for insurers to understand that the mobile industry is here to stay. As companies turn increasingly mobile, they are implementing strategies that require more than downloadable apps for employees, agencies and customers.  We are looking for companies who have a best-in-class strategic approach to their mobile offerings, which enhances the user experience and provides the functionalities that users want.

In less than 1,000 words, please explain to the judges why your mobile applications are suitable to receive the award, in line with the above criteria.  Please show the judges screen captures of your applications, and information for downloading and testing your apps. 

Judging process involves:   J   P   C 

4. DIGITAL INSURER OF THE YEAR

We want to award an insurer who embraces technology to its full and are building their business to make significant impact. Judges will be looking at 360 degree coverage, they will consider how technology is enabling its internal processes, how they collaborate with agencies, brokers and internal staff, how they have built a platform to distribute products and services to customers, and how they would meet regulatory and compliance challenges effectively. More importantly how these strategies have contributed to the insurer’s overall competitive advantage and support growth initiatives.

In less than 1,000 words and in line with the above criteria, please explain to the judges why you should be crowned the one and only Digital Insurer of the Year.

Judging process involves:   J   P   C 

star-iconOnly 1 Award in this Category

1. BRAND OF THE YEAR

The Brand of the Year Award is easily mistaken as an award given out based on a successful campaign launched during the year of the competition. While an appealing campaign will bring awareness for the brand, we are looking for companies who have received the highest respect in the industry and from their peers. As it should be the public who decide the worthiness of your brand, we want you to tell us less, and we will leave the rest in their hands.

You can go wild within 500 words explaining what values your brand stands for – your brand proposition, how you’ve conquered the digital world to creatively and effectively express your brand, how relevant your brand is to your customer segment and how much they adore and are loyal to your company. This is an elevator pitch to some extent, however, the judges will also consider the opinions of your customers and public endorsement.

Judging process involves:   J   P   C 

star-iconOnly 1 Award in this Category

2. CAMPAIGN OF THE YEAR

This is about a specific campaign launched during the past 12 months between June 2015 and May 2016. What is the story behind the campaign and what are you trying to achieve? Is there significant impact to the story and did you accomplish that mission? We are looking for the most memorable campaign with powerful, meaningful and inspirational messages that are not commoditized or focused on pricing. The campaign must also deliver on what it promises, and should be ethical, relatable and inclusive.

Tell us your story within 1,000 words, including images and other media, to explain why you should be considered for the best campaign of the year. We will also check the feedback from your customers and the public.

Judging process involves:   J   P   C 

star-iconOnly 1 Award in this Category

3. DIGITAL MARKETING AWARD

Social Media is a critical platform no insurers can afford to miss to tell the world about their product and why they matter to the audience. We are looking for companies who have impressive and measurable social media efforts. They should demonstrate how customers are pulled to the company’s landing page, the number of leads generated, how these leads are contacted and engaged, the number of meetings or phone calls  generated, and how many of these leads are converted into paying customers.

Tell us your story within 1,000 words, explain to the judges how you achieve this and what results are generated, according to the leading criteria above.

Judging process involves:   J   P   C 

4. SOCIAL MEDIA ENGAGEMENT AWARD

Social Media is about connecting people, and specifically the ability of companies to manage relationships and communicate effectively with their distribution partners and customers. We are looking for companies who embrace social media as part of their producer relationship management strategies, who have built excellent social media tools, and provide opportunities for people to collaborate and share information.

In less than 1,000 words outline your customer engagement strategies for social media in the areas of: content strategy, your response channels, how questions and complaints are dealt with, your content pass along strategies and measurable business results.

Analytics will be also drawn by BENCHMARK’s data partner, K-Matrix on the company’s Brand Popularity Index, covering 70 social media platforms, and their performance below:-

  1. Popularity Ranking – measurement of company popularity in online discussion-based media (DBM).
  2. Impression Ranking – measurement of company impression in search engines.
  3. Threat Level Ranking– measurement of company potential threats in search engines.
  4. Connectivity Ranking– measurement of company connectivity with its advocates in Social Networking Service (SNS) and search engines.

Judging process involves:  J   P   C 

1. CUSTOMER ONBOARDING AWARD

A customer’s journey starts the minute they are onboard your company, and onboarding is never just one thing nor is it a one-time event. We are looking to award companies that take customer journey mapping meticulously, and ensure the customer-facing processes are fully optimized. What are the metrics and key performance indicators and what things measured are related to the customer and your business. 

For this award, we are looking for companies who have embraced best practices in the following areas:

  • Governance and Ownership – a culture that establishes clear ownership of the various onboarding function to meet customer needs.
  • Customer Experience – a streamlined process to enable customers’ access to transparencies from the application submission stage, to the tracking status and receiving alerts, to uploading documents across channels.
  • Process – effective communication within the organization to coordinate onboarding activities across channels, especially during the most optimal window period after the enrollment of a customer to stimulate activities.
  • Technology – increase in use of workflow software and the forms of technology used as an effective engagement tool aimed to create results and engagement with the customers, meet compliance requirements and setting for record keeping and ongoing servicing.
  • Business Results – clear results in cross-selling and up-selling for financial, brand and social impacts.

In less than 1,000 words, please explain to the jurors your beginning-to-end story in line with the above criteria.

Judging process involves:    J   P    C 


2. CUSTOMER INSIGHT AWARD

The more insights you gain from understanding your customer, the better guided you will be on the customer’s journey. This award is about how companies integrate analytics into decision-making processes and drive decisions based on customer value, sentiment and social engagement. We are looking to award companies that have an excellent strategy and process to capture and analyze the various forms of interactions that take place along the engagement with customers.

  • Big Data – how data is captured and analyzed for prediction, exploration and discovery of customers’ behaviors. What the company’s data strategy is and how big data is used to acquire, grow and retain customers to achieve better business outcomes, including how technology is used to support this strategy.
  • Customer Journey Mapping – demonstrates a process that tracks the real journeys customers have, including their needs, behaviors and emotional levels throughout the process. An evaluation of the metrics used to measure customer experience and how decision-making happens, through actionable insights to fuel customer engagement and experiences.
  • Proven Results – the customer insight function results in lower costs to provide services, increased customer satisfaction, better understanding of the ways different groups of customers prefer to engage with the organization, better targeted campaigns, resources and service redesign for maximum impact and benefit.

In less than 1,000 words, please explain to the jurors why you should win this award based on the above criteria.

Judging process involves:    J 


1. INVESTMENT PRODUCT DUE DILIGENCE

While it is not the primary business for insurance companies to be managing clients’ investments directly, the fiduciary duties of the insurer to safeguard investors’ assets through investment-linked assurance schemes remain critically important.

We are looking to award companies who have incorporated a comprehensive risk management system and methodologies used for investment screening. Whether there is senior management participation from business units, legal, compliance, risk management and operations on new product offerings, vetting, and on-going monitoring.

  • Product Safety and Quality – whether the company has undergone a stringent process to find the best underlying managers that are the least costly, complex, or risky to achieve its objectives.
  • Process – a comprehensive risk management system and methodologies used for investment screening. Whether there is senior management participation from business units, legal, compliance, risk management and operations on new product offerings, vetting, and on-going monitoring.
  • Governance – whether there is a rigorous governance process that helps make sure fund managers have a solid track record in both quantitative and qualitative management, to achieve best-in-class performance, risk management, managers’ tenure, fee structure and investment process.
  • Product Viability – how new products are offered and whether risks associated with the product include the product’s structure or legal and credit risks. Also, whether the product’s complexity impairs investors’ understanding and transparency of the product.
  • ESG Integration – whether the company has incorporated Environmental, Social and Governance (ESG) factors into investment decisions, and its commitment to transparency and constructive engagement with investors.  

In less than 1,000 words, please explain to the jurors why you should win this award based on the above criteria.

Judging process involves:    J 


2. HUMAN CAPITAL DEVELOPMENT AWARD

Good people are assets and the successful retention is half the battle. We are looking for a company who adopts best practices in recruiting, managing and retaining the talent pool. Companies who care deeply for the health, safety and wellness of their employees and have cultivated a healthy workplace, should consider entering this category.  

  • Retention – ability to attract, retain, and develop human capital, as well as the exposure to risks of increased costs associated with high employee turnover or reduced productivity resulting from poor morale.
  • Engagement – formal employee engagement channels, broad-based professional development, training opportunities and implementing flexible work hours.
  • Benefits – comprehensive compensation and benefits packages, provides annual profit-sharing bonuses, giving employees a substantial and concrete stake in the company's success on a regular basis. Also offers incentives not by short-term activities but with their benefits aligned with customers’ long-term interests and benefits.
  • Culture – the company empowers professional and personal growth through demonstration of strong leadership, communication, culture, and corporate social responsibility.   
  • Diversity and Inclusion – best practices policies in place to broaden the pool of talent to include all genders, races and ages.

In less than 1,000 words, please explain to the jurors why you should win this award based on the above criteria.

Judging process involves:    J   P 


3. CORPORATE CITIZEN AWARD

Ethics and business conscience are becoming more mainstream for customers when choosing their product providers, especially for the Millennials who feel they are responsible for the well-being of this planet.

Good corporate citizenship goes beyond simply donations or volunteering, and looks at the intangible value created by the company by addressing key environmental issues, human capital issues and corporate governance issues, while making an impact through effective strategies for implementing corporate philanthropic endeavors.

  • Environmental – contribution in reducing carbon emissions, product carbon footprint, electronic waste, water stress, electronic waste, and improving energy efficiency and raw material sourcing.
  • Social – ensuring employees’ health and safety, financial product safety and quality, human capital development, privacy and data security, and governing the supply chain labor standards and labor management.
  • Governance – putting policies in place for business ethics in avoiding fraud, corruption and instability, ensuring corporate governance is of the highest standards in the board structure and compensation, women’s representation on the board, shareholders’ rights, and ensuring its financial system stability.
  • Social Impact – implementing of impactful projects for the community and human kind in general, using corporate philanthropic strategies and endeavors.

In less than 1,000 words, please explain to the jurors why you should win this award based on the above criteria.

Judging process involves:    J 

star-iconOnly 1 Award in this Category


4. WOMEN’S EMPLOYER AWARD

Traditionally women struggle with issues such as pay equality, climbing up the leadership ladder, or simply trying to strike a decent balance between family and career. 

We are looking to award a company who treats women equally and makes it a priority to empower women from all ends of the business, from front to middle and the back-end office operations.

In less than 1,000 words, please tell the jurors your story behind driving these initiatives:

  • Overall policies, strategies, programs and objectives of your women’s empowerment initiatives.
  • The gender composition across each level of your workforce (from the board level to entry-level roles) and the impact it has on changing your workplace culture and engagement over the past 5 years. 
  • An overview of your remuneration policy, addressing gender pay objectives and the timeframe that they were put in place. 
  • The frameworks and programs to support women’s career progression and professional development.
  • Parental leave and return to work programs for both females and males.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category


5. YOUNG PEOPLE’S EMPLOYER AWARD

The youth in society are often criticized as unwilling, unable and opinionated. When many employers would have judged them for who they are, some are offering opportunities to help them become what they can be. We are looking to award a company that has made significant contribution to this demographic of the community by implementing systematic and meaningful programs that are sustainable and impactful.

In less than 1,000 words, please tell our jurors your story behind driving these initiatives:

  • Overall policies, strategies, programs and objectives of your youth development initiatives.
  • The development program for graduate or entry-level programs specifically to recruit and develop young people, and its turnover rate in 2015.
  • The percentage of new employees under 35 employed by your business during 2015, and the message you are sending when recruiting young people.
  • The youth composition across each level of your workforce and the impact it has on changing your workplace culture and engagement over the past 5 years.
  • The programs in place that facilitates young people to contribute to the professionalism of the insurance industry.
  • Finally, why is your business an exceptional place for a young person to work?

Judging process involves:    J 

star-iconOnly 1 Award in this Category

1. SMALL INSURANCE BROKER OF THE YEAR (Less than 100 SEATS)

The brokers’ success is also the success of the insurers’. They service a different segment and they possess various different skill sets that help diversify the customer segmentation for the insurers. Nominate your favorite broker today if you feel that they possess excellent attributes and qualities in product knowledge, technological capabilities, networking and marketing skills. Are they are versatile, accountable, professional, likeable, responsive, and meet impeccable regulatory requirements, while holding ethics and integrity as their highest ethos?

After receiving nomination from the insurance company, we will notify the brokers and will be requesting the following information, should they wish to accept the nomination:-

  • Major customer segments they work with and how they identify customer needs.
  • How they conduct servicing touchpoints in acquiring new customers, renewal, collecting premiums, managing claims, complaint handling and ongoing servicing, and policies governing regulatory compliances.
  • Approach to people management including staff recruitment, formal qualifications, ongoing learning and development, retention and promotions.
  • Policies on staff engagement, staff turnover and policies in undertaking professional development.
  • The company’s contribution to the insurance industry, their customers and philanthropic support to the community.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

2. LARGE INSURANCE BROKER OF THE YEAR (More than 100 SEATS)

The brokers’ success is also the success of the insurers’.  They service a different segment and they possess various different skill sets that help diversify the customer segmentation for the insurers. Nominate your favorite broker today if you feel that they possess excellent attributes and qualities in product knowledge, technological capabilities, networking and marketing skills. Are they are versatile, accountable, professional, likeable, responsive, and meet impeccable regulatory requirements, while holding ethics and integrity as their highest ethos?

After receiving nomination from the insurance company, we will notify the brokers and will be requesting the following information, should they wish to accept the nomination:-

  • Major customer segments they work with and how they identify customer needs.
  • How they conduct servicing touchpoints in acquiring new customers, renewal, collecting premiums, managing claims, complaint handling and ongoing servicing, and policies governing regulatory compliances.
  • Approach to people management including staff recruitment, formal qualifications, ongoing learning and development, retention and promotions.
  • Policies on staff engagement, staff turnover and policies in undertaking professional development.
  • The company’s contribution to the insurance industry, their customers and philanthropic support to the community.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

3. INDEPENDENT FINANCIAL ADVISOR OF THE YEAR (Less than 100 SEATS)

Success in being an independent financial advisor (IFA) under the current stringent regulatory environment and market volatility is harder than ever. We are looking to award a small broker with 100 seats or less, who has stringent processes to find the least costly, complex or risky products to achieve its objectives.

After receiving nomination from the insurance company, we will notify the brokers and will be requesting for the following information, should they wish to accept the nomination:-

  • Range of Investment Classes – the brokerage has the appropriate licensing to provide advice on various different investment instruments including mutual funds, equities, ETFs, debt instruments, etc., while offering the client a cost efficient trading platform.
  • Range of Services – whether the brokerage provides a variety of wealth management services to clients, including research and advice, retirement planning, tax and estate planning, etc.
  • Portfolio Management – does the broker have a process of building and maintaining an investment portfolio that properly addresses the strategy to achieve the investor’s objectives and meet particular constraints? Also, whether the brokerage uses sophisticated tools to monitor client’s mandates against current risks and performances.
  • Administration – whether there is a sophisticated and streamlined administrative process for all the trading, clearing and reporting activities and functions required to effectively execute the portfolio management processes.
  • Client Support – how is client servicing being delivered and measured, and what are the firm’s complaint policies and turnaround time? Please specify how client communication and reporting is executed and its frequency.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

4. INDEPENDENT FINANCIAL ADVISOR OF THE YEAR (More than 100 SEATS)

Success in being an independent financial advisor (IFA) under the current stringent regulatory environment and market volatility is harder than ever. We are looking to award a small broker with 100 seats or more, who has stringent processes to find the least costly, complex or risky products to achieve its objectives.

After receiving nomination from the insurance company, we will notify the brokers and will be requesting for the following information, should they wish to accept the nomination:-

  • Range of Investment Classes – the brokerage has the appropriate licensing to provide advice on various different investment instruments including mutual funds, equities, ETFs, debt instruments, etc., while offering the client a cost efficient trading platform.
  • Range of Services – whether the brokerage provides a variety of wealth management services to clients, including research and advice, retirement planning, tax and estate planning, etc.
  • Portfolio Management – does the broker have a process of building and maintaining an investment portfolio that properly addresses the strategy to achieve the investor’s objectives and meet particular constraints? Also, whether the brokerage uses sophisticated tools to monitor client’s mandates against current risks and performances?
  • Administration – whether there is a sophisticated and streamlined administrative process for all the trading, clearing and reporting activities and functions required to effectively execute the portfolio management processes.
  • Client Support – how is client servicing being delivered and measured, and what are the firm’s complaint policies and turnaround time? Please specify how client communication and reporting is executed and its frequency.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

1. FINANCIAL PLANNING TEAM

This award will go to an in-house team of an insurance company which specializes in the financial planning process, primarily using insurance as their product offering. In less than 1,000 words, tell the jurors:-

  • The team composition and their areas of expertise, customer segment and overall demographics.
  • Key area of advice provided to the targeted segment and the key product offerings.
  • An overview of your remuneration policy, addressing commissions and how they are tied to the product sale.
  • Whether this team generates the best business results compared to other teams of the company.
  • Ongoing voluntary professional development within the team for self-improvement.
  • Other reasons that support why your team is exceptional.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

2. SME SPECIALIST TEAM

This award will go to an in-house team of an insurance company which specializes in the servicing of SMEs and addressing their very special needs by using insurance as their product offering and connecting them to the right resources in meeting their unique needs. In less than 1,000 words, tell the jurors:-

  • The team composition and their areas of expertise, customer segment and overall demographics.
  • Key area of advice provided to the targeted segment, the key product offerings, and the typical credentials of external expert panels.
  • An overview of your remuneration policy addressing commissions and how they are tied to the product sale.
  • Whether this team generates the best business results compared to other teams of the company.
  • Ongoing voluntary professional development within the team for self-improvement.
  • Other reasons that support why your team is exceptional.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

3. THE HIGH NET WORTH TEAM

This award will go to an in-house team of an insurance company which specializes in the servicing the high net worth individuals (HNWI), both in addressing their very special needs using various types of insurance as their product offering and connecting them to the right resources in meeting their unique needs. In less than 1,000 words, tell the jurors:-

  • The team composition and their areas of expertise, customer segment and overall demographics.
  • Key area of advice provided to the targeted segment, the key product offerings, and the typical credentials of external expert panels and strategic partners.
  • An overview of your remuneration policy addressing commissions and how they are tied to the product sale.
  • Whether this team generates the best business results compared to other teams of the company.
  • Ongoing voluntary professional development within the team for self-improvement.
  • Other reasons that support why your team is exceptional.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

4. AGENCY TRAINING TEAM

This award will go to an in-house team of an insurance company which contributes to the direct success of the agencies, in sales and client servicing. We are looking for a team with substantial leadership and innovation, transferring the best and most ethical knowledge from the product development team to the sales teams. In less than 1,000 words, tell the jurors:-

  • What sets your agency training team apart from other insurance companies in terms of methodology used and processes in place?
  • How does the training team implement innovativeness in order to assist the agency teams in creating a significant impact for clear business results?
  • Relevant learning and the level of competencies demonstrated by the trainers, that helps lift the standard of the agencies and their professional image.
  • Communication and bonding with the agencies, offering encouragement and motivation for them to sustain their contributions and achieve excellence.
  • Other reasons that support why your team is exceptional.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

5. CUSTOMER SUPPORT TEAM

This award will go to an in-house team of an insurance company that is part of the client support department, servicing both internal and external customers. 

In less than 1,000 words, tell the jurors:-

  • What sets your customer service proposition apart from other insurance companies.   
  • What makes your team unique and how does that help increase new, repeat and referred business?
  • Please highlight the objectives and tactics for developing and strengthening your customer servicing capabilities in the past year.
  • The overall remuneration system that is tied to meeting the KPIs of delivering satisfactory customer servicing.
  • Ongoing voluntary professional development within the team for self-improvement.
  • Other reasons that support why your team is exceptional.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

6. BROKER SUPPORT TEAM

This award will go to an in-house team of an insurance company which contributes to the direct success of external brokers, in sales and client servicing.  We are looking for a team with substantial leadership and innovation in transferring the best and most ethical knowledge from the product development team to the broker teams. In less than 1,000 words, tell the jurors:-

  • What sets your broker support team apart from other insurance companies in terms of methodology used and processes in place?
  • How does the training team implement innovativeness in order to assist the brokers in creating a significant impact for clear business results, specifically in volume of business written, new customers, and higher customer retention?
  • Relevant learning and the level of competencies demonstrated by trainers that helps lift the standard of the brokers and their professional image. 
  • Communication and bonding with the brokers, offering encouragement and motivation for them to sustain their contributions and achieve excellence.
  • Delivering the best response time on quotes, claims and complaints, etc.
  • Other reasons that support why your team is exceptional.

Judging process involves:    J   P 

star-iconOnly 1 Award in this Category

COMPANY OF THE YEAR

The BENCHMARK Wealth Management Awards 2016 COMPANY OF THE YEAR award recognizes this year's top performing provider within the insurance industry. Finalists will be assessed on a wide range of capabilities by BENCHMARK's Special Committee of judges. Please note, this category is not open for self-nominations.

CONTACT US if you need any assistance on the award categories.

Gentle reminder: The Awards Committee accepts only ONLINE SUBMISSION.