Brokerage rises to top spot
As Mega Capital tops this year's Insurance Business top 10 brokerages, Insurance Business speaks to Michael Gottlieb, MD, for industry insights, and Michael Hooton of Calliden, which supported this year's ranking.
Video transcript below:
Michael Hooton, GE for Agency Services, Calliden Group
Michael Hooton: As a company focused on intermediary distribution, we are extremely pleased to lend our support to the insurance business top 10 brokerage rankings for 2013. I would like to say well done to every broker that participated and special congratulations to this year’s top 10. I would also like to congratulate Michael Gottlieb and the staff at Mega Capital becoming top of this year’s rankings. Mega Capital is an established and professional brokerage, recognised for delivering exceptional service, having strong relationships with insurers and employing high quality staff.
Anna Temple: As Mega Capital tops this year’s insurance business top 10 brokerages, Michael Gottlieb says the accolade reflects the long and hard hours put in by his team.
Michael Gottlieb, MD, Mega Capital
Michael Gottlieb: We are really excited to be ranked No.1 this year. It’s second consecutive year we’ve made the list and last year we came second, narrowly missed out you know on the top night. And this year it’s great to ranked No.1, you know the top brokerage in Australia. So we are absolutely delighted. I do think we have a terrific team and they have provided a terrific service to our clients and I think this is a reward for some long and hard hours of work that we have put into this. It’s great.
Anna Temple: Gottlieb says that ensuring client advocacy is of paramount importance, not just for Mega Capital but for anyone wishing to remain relevant in the high value segment.
Michael Gottlieb: I think it’s absolutely essential. Again I think it differs based on your client base and your target market, but if you want to be a brokerage to the high value segment of insurance, you really need to provide value and that value needs to be your customer. The most important value creation that a broker can provide to its client is being an advocate and as being an advocate both at the frontend when you are procuring the insurance, ensuring that you do get the best terms at the best available price as well as being an advocate at the backend when there is a claims process. All too often brokerages forget who they actually represent and I think it’s you know the only real guarantee of your survival or to give yourself the best chance is to continue to act in the best interests of your client.
Anna Temple: Michael Hooton also celebrated Mega Capital’s embrace of technology and the launch of its online portal BizCover, something Gottlieb believes wholeheartedly in.
Michael Hooton: Mega Capital is also an innovative and progressive broker, exemplified in the development and launch of their pioneering online portal, BizCover.
Michael Gottlieb: Whether you are a high volume solution and you have SME clients who really aren’t able to negotiate a tailored solution, you need to utilise technology around the delivery of your insurance products and we have tried to take advantage of that and we have launched BizCover several years ago and I think we have really pioneered the way, you know through a contestable platform that still provides differentiation and doesn’t commoditise the insurers, yet provides the client with what they are looking for. I think on the high value side with Mega Capital, I think again it’s essential that you take advantage of the technology and the advances in technology to provide better bench marking, better reporting and just an overall better customer experience by utilising technology.