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Altrisk’s Co-Founder Recognised for Lifetime Achievement at Cover Awards

Altrisk co-founder and director of underwriting, Dalene Allen has received the prestigious ‘Lifetime Achievement Award for Excellence’ in service to the Life Risk industry at the Cover Awards, held in Sun City on Tuesday night. 

COVER Magazine, in collaboration with The Insurance Institute of South Africa (IISA), The Financial Intermediaries Association (FIA) and The South African Insurance Association (SAIA), recognised excellence in individual contributions to the industry at the awards held at the annual Insurance Conference in Sun City.  The winners were selected by an independent panel of judges based on nominations received from the industry.  The main objective of these awards is to recognise individuals for extraordinary effort and dedication to an industry aimed at improving the financial security of consumers. These awards are not aimed at companies or industry bodies, but rather at individuals who have made a significant contribution to the effectiveness and reputation of the industry. 

In what has been a week of home runs, this is the second accolade bestowed upon the specialist long term risk insurer in less than a week, with Altrisk clinching the “Long Term Insurer of the Year – Risk Products” award at last week’s FIA awards held in Sandton.    

Michael Blain, managing director of Altrisk says:  “We could not be prouder of Dalene’s achievements and her role in Altrisk’s success.  Dalene has been a pioneer in driving underwriting principles that support the business philosophy of simplicity and a moral code based on ‘doing the right thing’ in a very conservative and traditional industry. In fact, much of what Altrisk has achieved in the underwriting field has revolutionised the industry and challenged other industry players to up their game.  Dalene has done an incredible job of positioning the Altrisk brand as one that boldly goes where no other insurer has been before,” says Michael.

“One of the many successes at Altrisk is the strong relationship between financial advisors and our underwriters.  Dalene and her team have focused on demystifying the underwriting process for brokers, and in turn, helped them to better assist their clients when it comes to explaining risk insurance.  Our underwriters complement the entire team - their unique skill set ensures that they add value and new perspectives to the business of insurance.  As the co-founder of Altrisk, Dalene Allen’s ethos of evaluating each case on its own merits and her passion for discovery and accuracy ensures good decisions and correct assessment of risk.  She is driven by a genuine desire to help people, which is why she always looks for options to get cover for a client.  Her talent and passion for underwriting is incredible and underpins her healthy appetite for risk.

“Our underwriting philosophy of adopting a holistic approach has resulted in Altrisk being one of the most active insurers in terms of product development and a number of industry firsts, including providing affordable cover for people who traditionally could not get cover.  Product innovation is heavily dependent on underwriting capability and thought leadership, and in this regard, the lifetime achievement award is a fitting accolade for someone who always sees opportunity in every challenge,” says Michael.

Altrisk was established in 1999 by co-founders Dalene Allen and Nick Stern with the backing of the Hollard Group and Hannover Re.  Today the specialist risk provider covers over 100 000 lives with sums insured of more than R185 billion.  Altrisk’s underwriting approach spearheaded by Dalene Allen has delivered a string of firsts in the traditionally conservative life industry, including:

• First to regularly cover people with severe medical impairments – those who traditionally couldn’t get cover in the market place
• First to offer new-generation life cover to people living with HIV
• First to regularly cover people working in high-risk countries
• First to introduce a suicide exclusion that recognises previous periods of life cover
• First to adopt standardised critical illness definitions
• First to do away with irrelevant general exclusions
• First to offer on-going commission

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