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Insurance Business | 15 Mar 2013, 12:00 AM Agree 0
Allianz and Citibank have launched a new general insurance referral scheme for mortgage brokers but the insurer stresses the new arrangement will not hamper insurance intermediaries’ business.
  • John Thompson | 15 Mar 2013, 03:30 PM Agree 0
    Another example of Allianz taking business from Brokers. Who is the spokesman?

    Home insurance can be an important part of a Broker's portfolio and to say that this move will not impact Brokers is ridiculous.
  • Charles | 18 Mar 2013, 09:11 AM Agree 0
    John is right, the greed of inurers is astounding , they will us whatever source is available to increase their market percentage.
    Their arogance is so blatant they fail to realise that they have alienatednot only the general public but also Brokers, their major suppliers, this does have consequences they fail to realise.
  • Jim | 18 Mar 2013, 02:10 PM Agree 0
    This is when people like Steadfast and Austbrokers should vote on if they should deal with these direct marketers or not. they have the power now and should make these companies accountable...
  • Annemaree | 18 Mar 2013, 02:54 PM Agree 0
    Allianz offer this arrangement to a number of Mortgage Brokers and Financial Institutions, it is not a new move by Allianz or any of the other insurers out there who offer this service. Not really sure how this is different to Coles offering insurance or a client going online to purchase?
    Yes, domestic insurance is important to a brokers portfolio, however it is also the most price driven and therefore generally the first to move and if you have a strong relationship with your existing clients then this is not really going to bother you is it?

    We should be viewing this a positive, this is increasing the profile of insurance to the general public.
    Why not use this opportunity to build a relationship with your local mortgage broker and become their preferred insurance referral partner?

    Change is happening in our industry and we either have to embrace it or be left behind.
  • J.D | 18 Mar 2013, 03:43 PM Agree 0
    Totally agree with AnneMaree!

    Shouldn't you be proactive in approaching this and also selling your superior service/expertise to differentiate your offering? Not throwing your hands up in the air at a direct distribution models saying they are stealing "your business".

    These clients are taking out a loan or mortgage and asked if they would like a quote on the insurance aspect, how is this stealing your business? Most of these clients would not be serviced by a broker to start with.

    I know don't offer them anything at the time of taking out a new loan- leaving them uninsured and with no protection - much better solution is it?
  • Warren | 18 Mar 2013, 03:44 PM Agree 0
    I dont see that this is any different John, Charles & Jim to the Banks having referral set ups with international broking houses. At the end of the day its the relationship the client has with the broker which is important.
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