Insurer of the year
GOLD WINNER: VERO
SILVER WINNER: CGU
BRONZE WINNER: BERKLEY INSURANCE AUSTRALIA
After claiming a total of five medals – three gold, one silver and one bronze – Vero has been crowned Insurer of the Year by brokers, rising from a fourth-place finish in 2019. Not only did the Suncorp-owned brand climb the leaderboard significantly, but it also featured prominently in positive feedback from brokers. One broker cited Vero among the insurers that are “more present and are wanting to see the broker more regularly to provide education benefits to broking staff ”, while another noted that Vero had “improved greatly”.
Vero’s gold medal marks the end of two consecutive years of CGU winning Insurer of the Year, but with an impressive seven medals in this year’s survey, CGU’s second-place finish for Insurer of the Year is hardly a consolation prize. Brokers were also quick to praise CGU’s achievements, especially the performance of its BDMs. “CGU has an excellent BDM in Louise McGover,” wrote one broker, while the broker quoted above also included CGU on its list of insurers that are providing hands-on support and education to broker partners.
Berkley Insurance Australia also claimed seven medals to finish the race for Insurer of the Year in third place. One broker praised Berkley Insurance Australia for keeping pricing steady, saying premiums have “always stayed the same. Since Berkley Insurance Australia came into the market, they’ve been very competitive if the risk sits in their appetite.”
Fourth-place finisher Allianz won praise from brokers for its quick responses. “Most insurers remain very slow; however, Allianz have improved,” one broker said. Coming in fifth, QBE garnered rave reviews for building solid relationships. “We have a strong relationship with QBE, which I do believe drives business,” one broker said. “Being able to pick up the phone and speak to someone who knows us and our business model is very easy to deal with and makes broking easier in this tough market we are currently in.”