TAL, Australia’s leading life insurance specialist, has won the 2017 SMA Innovation in Action Award for TAL CoverBuilder, a digital platform that enables self-directed consumers to purchase life insurance.
The Award is run by Strategy Meets Action (SMA), a US-based insurance strategic advisory firm, and recognises insurance companies that are proactively evolving into Next-Gen Insurers through innovative business and technology initiatives.
TAL General Manager of Innovation, Dan Taylor, said TAL was delighted to receive global recognition for its approach to innovation and leadership in transforming the customer experience.
“It’s a real honour to be recognised for our achievements in this global forum. This award is testament to how TAL CoverBuilder moves us forward in the industry and the success of our work in reframing today’s challenges as new opportunities.
“Our ambition is to ensure our customers understand and value the protection they have and are confident we will be there when they need us most, and this award is evidence that we’re making great progress with those objectives,” said Mr Taylor.
TAL CoverBuilder is the primary platform and entry point for TAL’s digital offer to consumers. A first in the Australian marketplace, TAL CoverBuilder enables self-directed consumers to play with their options, build their own cover and reach an informed decision in a way that meets their need for control.
Based on its initial success, TAL CoverBuilder was extended into TAL’s alliance partnership with Qantas to deliver a new life insurance solution called Qantas Assure Life Protect. This combines the functionality and user experience of TAL’s CoverBuilder digital tool with the Qantas Assure wellness program.
“Working jointly with our partners to fulfill unmet customer and member needs is important to our future success and key to our innovation approach at TAL.
“TAL CoverBuilder has provided us with greater insight into how our customers use digital channels, and we’re using this insight in our plans for the future. We’re constantly looking for ways to leverage new technologies, such as artificial intelligence, to continuously improve our offerings at TAL and enhance the customer experience,” Mr Taylor said.
The Award was presented at the 2017 SMA Summit in Boston, Massachusetts, an event for insurance leaders who are thinking, planning, and executing toward the goal of becoming a Next-Gen Insurer.