Insurer looks to update product range

Insurer looks to update product range | Insurance Business

Insurer looks to update product range
An insurance group has flagged a number of updates to its product range over coming months, as it utilises the energy of a newly-appointed CEO.

Speaking at the group's Sydney broker forum on Friday, Ansvar Insurance general manager of sales, Ian Ireland, said one of the group's priorities in the near term was product development.

Ireland flagged updates to its management liability policy and personal accident policies.

He said there was also scope for improvements on pricing for the insurer's products, thanks to a new reinsurance partner on its property accounts.

The group's aim is to position itself as the 'insurer of choice' in five segments: faith, care, education, heritage and community, including not-for-profits.

The business expects all of the core areas it operates in to experience strong growth in coming years, something it knows is not lost on larger competitors.

Ireland said the insurer was buoyed by its recent financial strength affirmation by ratings house A.M. Best, an A- (Excellent) with a stable outlook.

He said this was important to ensure Ansvar remains competitive among the dominant 'super insurers'.

Speaking to brokers, newly appointed CEO Warren Hutcheon said he would be highly visible in the market, as he seeks broker feedback on the business.