Australia’s insurers are ‘carefully watching’ Calliden Group’s new agency services division with an eye to evaluating it as a potential new model for delivering insurance, according to the man heading up the nascent business.
Mike Hooton, group executive of Calliden Agency Services, said that the new business is expected to be the group’s ‘growth engine’ for the coming years. The gross written premium for Calliden Agency Services in 2013 is anticipated to be in excess of $150m making it one of the largest agency businesses in Australia
“I know that various people around the industry are watching us very carefully to see how it develops,” he told Insurance Business. “We certainly expect it to drive Calliden’s growth over the next few years, especially now that the group’s new strategic direction is in place.”
The group has spent the last two years restructuring its business into a dual insurer and agency model in response to both opportunities and challenges including: the increased frequency and severity of natural disasters: on one side, a smaller, well-capitalised insurer; on the other, its expanding agency services division which underwrites and distributes business on behalf of a variety of insurers including Calliden Insurance Limited.
Hooton also commented that brokers are now experiencing a good quality, more consistent service from the group’s various products.
Calliden teams up with international insurer
In other news, Calliden Agency Services Limited has partnered up with ACE Insurance to extend its product range to include corporate accident and health insurance
The five new products will include: Business travel, group (and Individual) personal accident and sickness, journey accident and voluntary workers insurance.
The products will be distributed to brokers via ACE’s placement online insurance solution. Calliden Agency Services will directly manage any queries or requests from its intermediary network. Claims will be managed directly by ACE.
Hooton said the agency Ace is a recognised insurer in this market with strong financial credentials and an excellent reputation for claims handling.
Giles Ward, Country President Australia & New Zealand, ACE Insurance added: “I am confident the Calliden broker network will appreciate the efficient and user-friendly nature of this innovative online insurance solution.”