The Australian insurance industry has long battled a perception problem and yet a quiet revolution is underway, one recognition at a time. In a few days, nominations close for the upcoming Insurance Business Awards on May 1. Events like this are emerging as a way of demonstrating what insurers actually do well - and why that matters to everyday Australians.
Rather than glossing over the sector's contributions, these accolades are opening doors to a more honest conversation about trust, reliability and the genuine commitment that insurers bring to protecting communities.
Earlier this year, broker-focused Vero won IB’s Insurer of the Year. Anthony Pagano (main picture), the firm’s head of distribution, said winning awards like this "translates the hard work, the dedication and the commitment that the team's delivering the best outcomes that we can get for our brokers, customers and partners.”
Pagano agreed that awards can mean something deeper than morale boosters. They signal to the broader public that the insurance sector is serious about its role.
At the heart of insurance lies a relationship built on trust, even when that trust is never tested. "Sometimes an award is not just about recognition, it's also a reflection of the trust that our brokers and clients place with us every day,” said Pagano.
This distinction matters. When a client never files a claim, they're choosing to trust an insurer with their peace of mind. Awards can help validate that choice, offering proof that the company they've entrusted with their protection is genuinely committed to excellence.
Beyond internal operations, independent industry recognition sends a powerful external signal.
"It reinforces trust, reliability and credibility and it says to clients and to brokers that if they're winning awards, they’re committed to excellence,” said Pagano.
Third-party validation carries weight that no marketing campaign can replicate.
What makes awards particularly powerful is their impact when Australians actually need their insurance. Many people go years without filing a claim, yet when disaster strikes - a storm, a bushfire, an accident at work - they suddenly need to know they've chosen wisely.
"It also says to clients that they're entrusting their business and their assets and their livelihoods to be with someone who's been recognised by others," Pagano said.
Award-winning recognition becomes a reassuring signal at the moment it matters most. This could be crucial in changing how the public views the insurance sector. In those critical moments, Australians want to know they're dealing with an organisation that's been proven, recognised and trusted by peers.
Perhaps most tellingly, Pagano emphasised something the industry doesn't do enough: celebrate its wins. "When you win these awards, it gives you an opportunity to celebrate success because sometimes we don't celebrate enough of the good things."
This point cuts to the heart of the perception problem. Insurance is often positioned as a necessary evil, something to endure rather than appreciate. Awards provide a platform to reframe that narrative - to show that behind every policy is a team dedicated to doing things right.
Nominations for the Insurance Business Awards 2026 close on November 28. For more information, including how to nominate and register, please visit the awards website.
