The insurer also won best service provider, best critical illness (CI) provider and best individual impact, which went to Axa's Naomi Greatorex, at a ceremony in London.
Legal & General (L&G) managing director, protection, Bernie Hickman won outstanding protection director.
Aviva was named most improved provider, Unum was awarded best income protection provider and LV= best new initiative.
Elsewhere, Fortis bagged both best underwriting team and best e-commerce provider.
The Nick Crossman award for best marketing and communications went to L&G.
Graham Harvey, Axa managing director, protection, says: "It's brilliant to be recognised for the great service that we have provided LifeSearch."
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