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Insurance Business | 26 Mar 2013, 12:00 AM Agree 0
Global insurer stresses brokers will not be impacted as company faces mixed reactions over plans.
  • Jacob | 26 Mar 2013, 11:17 AM Agree 0
    Does the loss of 10 jobs really warrant the use of the dramatic word "Axe" in this article? Think about this in the context that they employ thousands of staff. I think this is perhaps a bit of over excitement over a fairly normal business operation.

    No doubt this will create a service level vaccuum to a small degree; but, this just creates more opportunity to those underwriters or UAC members who can fill the gap.
  • Charles | 26 Mar 2013, 11:27 AM Agree 0
    Roberts summation of the situation is 100% correct . QBE marine portfolio has never recovered from the intergration even though they have endeavoured revert in some ways to the old way. Zurich will go the same way
  • Andrew | 27 Mar 2013, 09:28 AM Agree 0
    I would be listening to the specialist marine broker not the PI broker!
  • Graham Gulliford | 27 Mar 2013, 11:00 AM Agree 0
    Such a shame to see Associated Marine go, the end of an era and i will personally miss their leadership.

    Reality is however that IT is now. The more powerful IT technology gets the more Humans underwriting will become obselete.
  • Trevor | 27 Mar 2013, 11:01 AM Agree 0
    Jacob, do AMIA really employ thousands of staff? I think that they are around 100 nationally.
  • James | 27 Mar 2013, 02:38 PM Agree 0
    I must admit, when they first centralised their SME business a few years back I was sceptical. After using the Melbourne centre and getting to know the staff I was pleasantly surprised with the service and knowledge.
    Seems like they have done their homework.
    I also understand that the state underwriters will be more market facing hence the BDMS are no longer required. I'm my case I would rather deal with the decision maker not the BDMS.
  • Ron | 28 Mar 2013, 04:26 PM Agree 0
    I've spent many years in the industry and have seen many changes. Company mergers and acquisitions, major companies creating underwriting centres in suburban areas, then closing them.

    BDM's that visit brokers who have no u/w authority, raving about "creating relationships" then giving you a stress ball as a marketing toy? But, if they are pretty, lets wheel them out likes lambs to the slaughter (thankfully, that no longer happens, I hope?) and we will write more deals.

    IT has its place, but, on major accounts, you have to meet with underwriters (do they exist or do are actuaries giving instruction manuals, sorry, underwriting manuals to provide quotes).

    Oh, how I miss the days when a deal was done on the back of a coaster, you became mates with your underwriters (I never witnessed any corrupt conduct - is going out for lunch corrupt?) - you didn't burn your mates and because of potential attacking brokers, you usually got got terms.

    A lot of great experience and knowledge has disappeared, plus its characters. That's what made a succuessful Insurance Company, people who cared, not typing a slip into a computer. History does repeat itself, it just takes time
  • Broker | 04 Apr 2013, 01:39 PM Agree 0
    BDMs have little to no knowledge and Marine is an area were knowledge of product/clauses is key.....any complicated marine risks will now be moved to an underwriting who truly understands the risks/exposures of marine.
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