Broker network to launch retail product offerings

Broker network to launch retail product offerings | Insurance Business

Broker network to launch retail product offerings
Steadfast Group is launching a new line of retail insurance products for its brokers – Steadfast Direct.

Steadfast Direct will provide Steadfast Network Brokers with competitively priced insurance products to sell to their clients that would normally be sold directly by the underwriter. It therefore enables them to strengthen their relationship with their clients, grow their business and allows them to offer direct style products to their clients.

The planned launch date of Steadfast Direct is February 2015.

The first two product offerings through Steadfast Direct will be home and motor insurance for the Australian market. Steadfast is working with a member of the Berkshire Hathaway Group of insurance companies to develop these first two products.

Managing Director and CEO of Steadfast, Robert Kelly, said, “We are delighted to roll out our Steadfast Direct product line and expect to provide competitively priced products for our brokers to market to new and existing clients.”

The launch of the home and motor insurance products in Australia will be subject to the approval of licensing applications pending with the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission.