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Insurance Business | 20 Jan 2014, 08:18 AM Agree 0
An innovative new brokerage has its eye on expanding into Australia.
  • Liam Bache | 22 Jan 2014, 10:50 AM Agree 0
    I find it interesting that the term "Brokerage" has been used in this article. We are trying hard to educate the public so they know that we are not all about cheaper premiums - but more about a total insurance and risk management solution.

    I see this as a "Buying Group" model and not one of a brokerage. If it were a true brokerage, who is providing product advice to the clients and assisting with claims lodgement/management?

    What else is concerning is that the financial benefit appears to be based on large numbers of people joining and low claim volumes. This is great when Australia has bushfires buring across 3 states and history shows these can cause massive property losses! That would impact significantly on your claims and potentially wipe out any possible financial benefit.
  • John Elliott | 22 Jan 2014, 11:49 AM Agree 0
    Liam,

    I think that its great a brokerage is looking to overseas for innovative ideas for our industry. Australia is technologically so far behind in the insurance space its not funny.

    I have no idea why brokerage owners are so bent on protecting age old ways of doing things instead of trying to innovate and bring our industry as one of the world leaders in thinking and modernizing our services for our clients.

    In so many other industries Australia is a market leader on the international stage. My only problem with this article is that it would be great to see an Australian Broker who could come up with an idea like this that the rest of the world follows instead of us constantly having to follow them and play catch up.

    So Liam, embrace the positives of this model, drag out the good, and encourage those in our industry who dare to do it different, chances are these are the kind of places that are having the biggest hand in shaping the future and maybe even the survival of our industry in the future!
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