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Anticipation builds ahead of the FIA Awards

08 June 2017 Jonathan Faurie

Excitement is building as the industry looks forward to one of the biggest award ceremonies in the industry…the Financial Intermediaries Association of Southern Africa (FIA) Awards.

The research methodology into the awards was undertaken by a new company Ask Afrika who promised to bring a fresh look to the awards. FAnews spoke with Ask Afrika to find out more about their approach.

Casting the wide net

Bernice Gaum, Research Executive at Ask Afrika, promises that the awards will have a fresh look because of the wide net that was cast during the research phase.

“Ask Afrika is the largest independent research company in South Africa with 21 years of experience in the research industry. We are excited about being involved with the FIA Awards,” said Gaum.

She adds that the cornerstone of this research excellence is reliable fieldwork and processes. Ask Afrika invested in technology in terms of project management and data collection to ensure that all engagements with respondents (consumers and business) aligns with the research methodology it undertakes.

The old and the new

This is the first time that Ask Afrika is undertaking the research into the finalists and award winners.

“Ask Afrika was briefed on the methodology applied by the previous survey partner and special care was taken to match the old and new methodologies,” says Gaum.

She adds that, the survey result still reflects the FIA member brokers’ experience of product suppliers in so far product quality, service quality, relationship quality and overall satisfaction.

A phased approach

The research was done in two phases. In Phase I, the survey was conducted by way of a short online questionnaire which was designed and distributed to all FIA members (using the FSB registered FIA member database).

“This methodology was chosen to give all members an equal chance to participate in the survey and for their views to be incorporated into the awards. The online data collection period stretched between 14 March and 4 May 2017. In total, more than 8 000 contracts were rated by FIA members,” says Gaum.

In Phase II, Gaum points out that a more robust diagnostic questionnaire was designed to gain further insight into why FIA members rated a company in a specific way, and to identify actionable levers for product suppliers. “This survey was launched in our call centre on 10 May and data collection was completed by 23 May. For this phase of the research, a random sample was pulled from the database,” says Gaum.  

In closing, Gaum pointed out that FIA members participating in the survey were very responsive, especially in terms of the online methodology.

“During the initial discussions with members, it was expressed that some members feel their opinion was not sought in previous years and a decision was made to offer this survey to each and every FIA member,” says Gaum.

We have seen some brand new names on the list of finalists this year, so competition for the awards will prove to be tight. We are excited to see who the winners will be. Perhaps there is space in the awards for new technologies such as technology.

And the finalists are:

In the world of short term insurance 

Short Term Insurer of the Year – Personal Lines
Your finalists are Auto & General, Hollard, Momentum, Renasa and Santam 

Short Term Insurer of the Year – Commercial
Your finalists are Auto & General, Guardrisk, Hollard, Renasa and Santam 

Short Term Insurer of the Year – Corporate
Your finalists are Bryte, Hollard and Santam 

Underwriting Manager of the Year
Your finalists are CIA, KEU, Leppard and Paladin 

In the world of life & investments 

Long Term Insurer of the Year – Risk
Your finalists are Hollard Life, Momentum and PPS 

Product Supplier of the Year – Investment Product Lump Sum
Your finalists are Allan Gray, Liberty and Sanlam Glacier 

Product Supplier of the Year – Investment Product Savings
Your finalists are Allan Gray, Old Mutual Wealth and Sanlam Glacier 

In the world of employee benefits 

Product Supplier of the Year – Employee Benefits
Your finalists are Liberty Corporate, Momentum EB and Sanlam EB 

In the world of healthcare 

Product Supplier of the Year – Healthcare
Your finalists are Discovery Health, Fedhealth and Momentum 

Product Supplier of the Year – Health Insurance
Your finalists are Sirago and Stratum Benefits 

Editor’s Thoughts:
There is no doubt that the FIA Awards are one of the most auspicious in the industry and is a good indicator of service excellence. We wish all of the finalist’s good luck for this evening’s awards. Please comment below, interact with us on Twitter at @fanews_online or email me your thoughts jonathan@fanews.co.za.

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