The intermediary community turned out in force for the 12th annual Legal & General Business Quality Awards, with old and new faces joining together to celebrate this year’s winners.
Following the return to an in-person format last year, the 2023 iteration of the ceremony saw attendees from across the financial advice profession gather to commend those protection intermediaries that have secured the best outcomes for customers.
"This is a unique event in the industry calendar and we're proud to lead the way in celebrating all these great outcomes for our customers," said Bernie Hickman, chief executive of Legal & General Retail.
"The environment in which we operate is always changing and has always given us challenges. Last year was the first event post-COVID. Since then, we've had the cost of living crisis, which has impacted everyone, and there are many other economic and societal challenges.
"But there is one bright spot that I personally and that L&G as an organisation are optimistic about. And it's the use of technology and data to create better customer outcomes and be a force for good in society."
Despite the potential technology has to improve processes and outcomes within the protection space, there will always be a human element at the core of the industry. As such, the requirement for human interaction with skilled and compassionate professionals to guide customers towards the best outcome will remain essential. This is particularly true with the Consumer Duty being introduced in a matter of weeks; its focus on great customer outcomes was very much on show at Business Quality Awards.
Attendees heard about Dave's experience with prostate cancer. While he was covered by his critical illness policy, the mental toll of a diagnosis, surgery and treatments is extensive and requires excellent support at every step of the journey from insurers and intermediaries alike.
"As we've already heard today, despite the evolution of AI, the human element remains incredibly important in everything we do. And there's nothing more important than being there as a human, when life throws you curveballs," said Julie Godley, director of intermediary at Legal & General Retail.
Intermediaries play such a key role in supporting customers at their most critical and vulnerable time. Advancements in technology and artificial intelligence are also proving invaluable to intermediaries to facilitate improved processes, efficiency and customers outcomes.
Recognising outstanding intermediary performance
The awards celebrate the protection industry's standout business performers who have been committed to putting customers first. Legal & General is the only provider in the industry to award quality, retention performance, and customer outcomes.
The awards are split into two categories: MI Categories and Submissions Categories. Both are independently assessed by Legal & General's Conduct Risk team after a process of rigorous due diligence.
"One of the key themes running through the award winners today has been the importance of the human touch. Julie and Dave reminded us of just how important that is, no matter what astonishing new technologies come along to help and support us," said Ali Crossley, managing director, distribution at Legal & General Retail.
"At the heart, all of our businesses will first and foremost be about people delivering what customers need and want."
This year's ceremony included a new, a special recognition award, for Contribution to the Protection Industry. Acclaiming its impact in driving positive improvements with regulators, media and insurers, specifically developing and enabling the best customer outcomes, the Protection Distributors Group (PDG) is "making sure that the UK's individual insurance programme always aims higher and delivers improved standards."
Customer Excellence was recognised at Cavendish Online, which evidenced one of the best performances across all metrics out of the thousands of intermediaries examined, in addition to exemplary customer scoring across thousands of reviews.
At network level, Mortgage Intelligence was also recognised for "truly embodying customer service" through training, workshops and academies that showed advisers how to have better conversations about protection.
The full list of winners for 2023 are:
Outstanding Performance: 2 Plan Wealth Management
Best Reinstatement Performance: Direct Life & Pensions
Best Customer Retention: Pure Protect
Customer Excellence (Firms): Cavendish Online
Customer Excellence (Networks): Mortgage Intelligence
Data Precision: Cavendish Online
Protection Written in Trust: Dunham McCarthy
Special Recognition (Firms): Monica Bradley Associates
Special Recognition (Networks): PRIMIS
Outstanding Customer Outcome (Small Intermediary Category): Real Life Advice
Outstanding Customer Outcome (Medium-Sized Intermediary Category): Mortgage Advice Bureau Northern Ireland (formally known as The Mortgage Group NI)
Outstanding Customer Outcome (Large Intermediary Category): FutureProof
Network & Strategic Partner Quality Performance: Mortgage Advice Bureau
Best Supporting Account Manager: Nicky Shorey
Contribution to the Protection Industry: Protection Distributors Group
