Suncorp wins insurance award for third straight year

Suncorp Group‘s (ASX: SUN) AAMI insurance company was named “Insurer of the Year” in Money magazine’s 2013 Consumer Finance Awards this week. This marks the third straight year AAMI has beaten out competitors for first place. According to Suncorp, Money magazine was especially impressed with its company’s product features, competitive pricing, and good customer service.

Reflecting on the win, AAMI spokesperson Reuben Aitchison noted the key components the insurer’s success: “It starts with ensuring you are providing a product that delivers real value to customers, but that has to be backed up with great service throughout the life of the policy and at claims time.”

Over the last year, AAMI has introduced a mobile app to guide customers through insurance claims, as well as a new management system that allows customers to track the progress and final decision of each claim.

AAMI currently has more than 2.5 million policyholders, and a recent Suncorp Group Investor Day presentation notes that the corporation’s overall portfolio reaches 92% of Australians.

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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter  @TMFJLo .

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