Available categories for 2019:
The “Investment Platform” category aims to identify high quality providers based on criteria such as the range of investment classes covered, product pricing, and quality customers help to gain the best cost advantage whilst maintaining rigorous processes governing standards and selection; whether there is a solid foundation for ongoing research of customers’ needs and product trends, and a robust risk management to ensure that customers and the bank have a clear understanding of the portfolio services to be managed to fulfill the suitability obligations.
The “Investment Due Diligence” category aims to identify high quality providers based on criteria such as: whether the company has undergone stringent processes to find the least risky, complex, or sustainable products to achieve its objectives for multiple customer segments; whether best practices have been implemented to avoid toxic debts and to incorporate a meaningful representation of asset classes and different investment styles; and whether the senior management is involved in due diligence at the overall platform level.
The “Banc Assurance” category aims to identify high quality providers based on criteria such as: whether the banc assurance operation offers the customers best-in-class product range, product onboarding, and exclusion policies; and whether training agents accurately understand customers’ risk profiling and needs alignment. Another factor to be considered is the deployment of online internet and mobile technology for administrative support and claims execution.