has announced a “subtle but unique change” to its business in a bid to strengthen its customer ties and recognise the professionalism of its staff.
The company has announced that it will transition from an authorised representative network to become Australia’s first authorised broker network.
Directors of the company, Tremayne West and Jeff Hollands, said that the change is aimed at altering the perception of the authorised representative industry and will help clients understand the industry better.
“Historically the industry has had a perception of a lower quality broker being an AR but with today’s compliance regime and the more corporate operation of the larger AR networks this is changing,” the directors told Insurance Business.
“We felt we needed to make a start in promoting the professionalism of our brokers and recognise them as brokers in their own right operating under a shared license as an ASIC
authorised representative of that license.
“This change will also remedy the confusion experienced by clients when they encounter the authorised representative name, with the client instead being able to easily identify them as an insurance broker when advising clients on their risk management needs,” the company continued in a statement.
The change to the Australian first authorised broker model will see no major changes to the Westcourt business as brokers will continue to be the focus.
“We see the benefit in being the first Network to recognise the professionalism of ASIC
Authorised Representatives as a key differentiator and further recognises our position as the Premier Authorised Broker Network,” West and Hollands continued.
“Our business in Westcourt General
still runs the same premier model and we support and develop our Authorised Brokers the same as we have always done with the focus on their development and their growth in their business under their brand.
“Our brokers are our focus and we don’t compete with them or provide any conflict.”
Westcourt hope that the move will help to celebrate the professionalism of their brokers and the company hopes that the move highlights their innovation in the industry.
“We are focussed on an Authorised Broker Network model as our pure objective and we believe the recognition duly owed to our brokers is one that will signal to the market that we are a progressive and forward thinking dedicated Authorised Broker Network focussed on the members of the Network.”