PSC Network provides comprehensive package for reps

PSC Network recently spoke with Insurance Business on how its offering for authorised representatives covers all bases with services backstopped by the wider PSC group

PSC Network provides comprehensive package for reps

Insurance News

By Bennett Richardson

This article was produced in partnership with PSC Network

PSC Network Insurance Partners is on a drive to expand its ranks of authorised representatives (ARs) around Australia.

It is heartening to know that in the more challenging business environment likely to continue in 2023 a business partner with credentials such as PSC Network is able to underpin the aspirations of insurance brokers who want to make their mark.

“Being an AR is the most efficient and effective way to be an insurance broker in your own right, while getting back-office support and access to other valuable services from a larger network,” says PSC Network chief executive Tony Walker.

Walker has seen talented brokers struggling under the demands of unappreciative employers and sees becoming an AR as a golden ticket to financial success and a much happier lifestyle.

“You own your business 100%, so you can utilise the skills and experience you have generated over many years to suit your needs and those of your customers.”

PSC Network is part of the bigger PSC Insurance Group, and the services of the parent are available to PSC Network ARs. PSC Insurance has Offices in Australia, NZ, Asia and the UK meaning that the know-how of a major international firm is on tap for PSC Network reps.

In each state PSC Network has its own regional managers to help with both setting up and expanding your business if needed.

“Their principal role is to provide day to day assistance on the placement of business in the market and to assist in building your business in a compliant manner for the benefit of your clients.”

Other specific support includes such things as access to marketing and new business lead generation organisations to assist in growth of an AR’s portfolio.

“They can target specific industries in your area to generate leads,” says Walker. PSC Network is even willing to provide the funding for this if required, he adds.

“We can also assist the AR in the placement of business to the market through our contacts and leverage arrangements, so you are not left on your own.”

PSC Network also has a National Claims Manager available who can assist in early settlement of claims for your clients.

ARs also get fully funded professional Indemnity cover including cyber.

Setting up systems

Getting your business set up can seem overwhelming at first but PSC Network provides technology support, banking, and premium funding arrangements plus internal processing systems for its ARs.

ARs manage their own processing through the Winbeat processing and compliance system. There are no transaction fees applied separately when processing client invoices.

“The system is extremely easy to use and fully paid for by PSC Network. Sunrise and other insurer platforms are also included which allows you to quote and bind business 24 hours a day anywhere in Australia,” says Walker.

There are also no sign on fees when joining PSC Network, which now has in excess of 200 plus ARs and 400 plus support staff around Australia and New Zealand.

Perhaps one of the most appealing aspects to brokers who have existing networks in their local communities and a good level of experience is the fact that the AR trades under their own business name thereby promoting their business and not the licensee’s business. Customers will continue to attach to the AR’s brand even while it is part of the PSC Network.

The fine print

With the PSC Network model we identify with experienced general insurance brokers who have the long term commitment to build their own business, are customer focused, compliant and motivated.

Training and compliance reviews are undertaken both individually and as a group through both the PSC Network annual conference held in August each year and one day workshops in each state on a regular basis to address local issues and meet with local suppliers,” says Walker. PSC Network clearly stands behind its slogan of local knowledge and global reach.

The PSC business model is designed to add value and help ARs build successful broking businesses. With inhouse specialists for technology and compliance, marketing support, a robust underwriting network, a choice of premium funders, full PI cover and the possibility of another income stream from life insurance via an internal partner and more, it’s a solid package waiting for motivated brokers to take advantage of.

Click here for more information about becoming a PSC Network AR.

PSC Network Insurance Partners is a division of publicly listed PSC Insurance Group Limited. As a Group, PSC aims to be the trusted insurance and risk management partner for its diverse range of Small to Medium Enterprise (SME) clients. PSC Network Insurance Partners Pty Ltd is an Australian Financial Services Licensee, responsible for a large network of Insurance Advisors across Australia.

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