Making its third consecutive appearance on the Top 10 Brokerages list, Queensland-based Austbrokers Coast to Coast proclaims that “risk is our business”. Offering tailored corporate insurance solutions for Australian and multinational corporates in the transport, manufacturing, construction, not-for-profi t and government sectors, the brokerage covers a lot of ground for its clients.
It’s not surprising, then, that Austbrokers Coast to Coast came in fourth for revenue per broker, with an average of $503,009 per broker. The brokerage also saw a 10.5% boost in new business revenue between July 2019 and June 2020.
Nigel King, director of finance and corporate aff airs at Austbrokers Coast to Coast, says the brokerage’s biggest challenge is “remaining relevant in a market that is driven by price and not advice or service. Our industry seems intent on commoditising at the expense of service and advice. We provide a very high level of service to our clients and manage their risk for them. We charge a fee for our service commensurate with the service we provide, and our clients are happy to pay for that service. However, the broking industry in general is trying to compete with the direct-to-market insurers on price. We should be considered as trusted professionals by our clients rather than trying to obtain the lowest price for our clients at the expense of service, advice and the right coverage to ensure that our clients’ risk is managed appropriately.”
