NobleOak Life Limited (NobleOak) has continued its dominance as the most awarded direct life insurer by winning the inaugural Money Magazine Consumer Finance Awards Direct Life Insurance Cover of the Year 2022.
Anthony Brown, CEO of NobleOak, said, “This is the first time Money Magazine has awarded an insurer in the life insurance category. To be the first company to receive this distinction is very gratifying.”
Money Magazine partnered with Plan for Life, Actuaries & Researchers who are specialists in analysis of the Australian financial services industry, to complete the independent review of products offered direct in the market.
Plan for Life compared product offerings from direct life insurers based not only on their financial position but also market performance, product excellence and features, premium rates and customer service.
Mr Brown continued, “The combination of low premiums, outstanding personal service and range of product options was identified as being best in class. These are the factors that underpin our core values of always putting our customers first and that have seen NobleOak being the fastest growing direct life insurer in Australia.”
NobleOak won five of the 14 categories including overall excellence, term life, TPD, trauma option and customer service. Its products are all fully underwritten at the time a customer applies for cover, which means greater certainty at claim time and a more affordable price. This is one of key differences between NobleOak and other direct insurers who may only partially underwrite products which generally results in customers paying more for their cover.
Mr Brown explained, “Fully underwriting all applications at the time of purchase ensures there are no surprises at claim time. Customers know exactly what they are covered for and we have all the information we need should they need to make a claim, at a time that can be very stressful.’
Money Magazine commented, “NobleOak was a standout from the start. No other insurer came close to offering customers such a strong combination of customer-focused benefits with outstanding personal service.”
In addition, NobleOak has won both the coveted Canstar Direct Life Insurance and Canstar Income Protection Outstanding Value Awards seven years in a row, Feefo Platinum Trusted Service Award for 3 years in a row, and the Plan for Life Direct Life Overall Excellence Award for 4 years in a row.