Underwriting agencies' products that caught brokers' eyes in 2022

Underwriting agencies' products that caught brokers' eyes in 2022 | Insurance Business Australia

Underwriting agencies' products that caught brokers' eyes in 2022

Insurance Business Australia (IB) released the 2022 list of Australia's best underwriting agencies, rated by brokers.

The IB Brokers on Underwriting Agencies survey identified 29 winners for 2022, deemed by brokers as exemplars of excellence in coverage, overall service level, turnaround times for new businesses and claims, broker support, premium stability, and commission structures. Four of the winners earned the “Brokers' Pick” medal for their products that brokers most voted for.

One of the 2022 winners that earned the Brokers' Pick medal is AFA Insurance, an underwriting business offering unmatched expertise in finding the right cover for its clients for over 30 years. With award-winning services, the business continues to grow and offers a complete suite of accident and health insurance products underwritten by Zurich Australian Insurance Limited.

AFA earned the medal for its personal accident and illness insurance. Aside from its products, the business has shaken the industry using its online tool eBIND, which simplifies the quoting and binding process, making it one of the most successful tools for brokers.

Another company that earned the Brokers' Pick medal is Pen Underwriting, recognised as one of the leading agencies in Australia, with offices in Sydney, Brisbane, and Melbourne and a team of 60 underwriters and support teams.

Over the last decade, the agency has developed into a multi-line agency with extensive expertise in its product range, spanning property, casualty, financial lines, transportation, and construction. It has also established a solid presence across various sectors, including manufacturing, wholesale, food and beverage, logistics, hospitality, aged and community care, construction, and transport and storage.

Pen Underwriting earned the IB Brokers for Underwriting Agencies 2022 Brokers' Pick medal for its property ISR.

Pen Underwriting chief executive Ken Keenan commented: “What sets Pen Underwriting apart is our people; every single one of us really wants to deliver for our brokers and capacity providers. We've done the math; between us, we have over 1,000 years of underwriting experience, and we leverage this every day to produce outstanding results.

“The onset of the pandemic really highlighted the importance of the wellbeing, growth, and development of our people, so we prioritised making the experience of working at Pen a positive one – after all, it is our underwriters that serve our brokers and ultimately deliver profits to our security. Our aim is to empower our teams to utilise their skills, expertise, and experience to deliver the best results we can.”

Know more about the companies that delivered this year's best products, as well as the rest of the winners, by checking out the IB Brokers on Underwriting Agencies 2022 report.