Broker network to launch retail products

Broker network to launch retail products

Broker network to launch retail products Steadfast has announced plans to launch a new line of retail insurance products, named Steadfast Direct, for its brokers with a planned launch date of February 2015.

Steadfast Direct will provide their network of brokers with a line of products that would usually be sold by the underwriter.The planned release date of Steadfast Direct is February 2015 and the first products to be launched will be lines of motor and home insurance.

Managing Director & CEO of Steadfast, Robert Kelly, said of the launch: “We are delighted to roll out our Steadfast Direct product line and expect to provide competitively priced products for our brokers to market to new and existing clients.”

Steadfast is working alongside a member of the Berkshire Hathaway Group of insurance companies to develop the first two lines of product.

The launch of both home and motor insurance products is subject to the approval of licensing applications pending with APRA and ASIC.
4 Comments
  • Paul 5/11/2014 10:05:10 AM
    Wonderful initiative and will give the direct sellers a taste of their own medicine. Who said Kelly was just a pretty face.
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  • Curious 5/11/2014 1:45:33 PM
    How can they be Drect if they are sold through an intermediary? No doubt the broker will clip the ticket on the way through?
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  • Leigh 5/11/2014 1:51:37 PM
    Be interesting to see what the commission rates will be......
    Increased to try and encourage adoption within the group?
    Standard to compete in the market?
    Or reduced/nil to pass on savings to the customer like other direct models?
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