iTOO Special Risks scoops prestigious "Product Supplier of the Year" at FIA awards

Johannesburg - iTOO Special Risks has announced that it is proud of having once again scooped the coveted Product Supplier of the Year Award, in the Underwriting Management Agencies (UMA) category, at the annual Financial Intermediaries Association (FIA) Intermediary Experience Awards, held yesterday (7 September 2022). 

The FIA Intermediary Experience Awards are considered the most prestigious and high-profile annual recognition event in the local financial services industry. This is the second time that iTOO has won this particular award, first taking home the accolade in 2018. 

“For more than 20 years, the FIA Intermediary Experience Awards have recognised South African insurers for the outstanding products, solutions and services that they offer to the end-consumer through member intermediaries or financial advisers,” says iTOO MD Justin Naylor. 

“We are immensely proud and honoured to have been voted the winner of the Product Supplier of the Year Award in the UMA category, for the second time. This award speaks to our unwavering focus on meeting the needs of our clients through our expert-led service and product offerings.” 

The awards were not held in 2020 and 2021 due to COVID-19 restrictions, but have returned this year, along with the survey used to evaluate the FIA intermediary experience of product provider brands and services. 

Benchmarking intermediary satisfaction 

The survey was launched in July, giving FIA members the opportunity to participate and make their voices heard about the industry’s leading insurers and share experiences of the industry product suppliers they work with. According to the FIA, it is not only about paying claims quickly and efficiently that ensures good outcomes for clients, but also about the service FIA intermediaries receive from product providers. 

“Service is about the quality of the relationship and the willingness to engage and support the FIA intermediaries to underwrite risks fairly, correctly and to provide the best value for the clients in the event of a loss,” says the association. 

Awards are presented in each of a total of nine different categories, with winners ranking the highest on the comprehensive FIA membership intermediary satisfaction benchmark survey. 

Naylor notes that the FIA Intermediary Experience Awards ceremony is one of the highlights on the South African insurance calendar, bringing together industry stakeholders to celebrate product suppliers in the industry who support intermediated distribution. 

Ongoing efforts 

“In a fast evolving and increasingly complex insurance landscape, iTOO Special Risks recognises its duty to provide our intermediaries with top-notch products, services and support. We would like to take this opportunity to thank financial advisors for recognising our ongoing efforts to assist them with outstanding advice and services across the whole insurance spectrum,” says Naylor. 

“We are truly humbled and grateful to have been voted the winners of this award, which is further proof of our success in delivering the right products and services to our intermediaries, which in turn provides peace of mind for their clients.” 

Naylor notes that winning the award for a second time provides added incentive and motivation for iTOO to continue offering superior service to the industry and to strive even harder to cement its place as an industry leader within the South African special risks insurance sector.