Ansvar has made significant changes to its business model as part of a push to build clarity and confidence among brokers.

Since joining the business last year, former AIG executive Peter Bailey has overseen substantial investment in underwriting capability and leadership – all aimed at optimising service and delivering better outcomes for clients and broker partners. 

After three decades in the insurance industry, Mr Bailey moved to Ansvar as chief underwriting officer. In March, his role was expanded to include Deputy CEO, overseeing the national branch network.

“We believe service is the biggest differentiator, but we haven’t always been able to demonstrate that,” he says.

“All the changes we've made are intentionally designed to address responsiveness, accountability, clarity and consistency.

“We’ve listened intently to give a better outcome.”

To better align with broker needs, Ansvar has moved its distribution model from a state-based structure to a regional model – northern, southern and western – supported by dedicated SME, commercial and corporate underwriting teams.

“We’ve got a more cohesive go-to-market strategy – it’s a lot simpler and quicker to get decisions to market having one executive responsible for both underwriting and distribution,” Mr Bailey says.

“We’ve now got greater depth and clarity in our distribution structure to match our underwriting and technical structure.”

100% INTERMEDIATED

Ansvar specialises in the care sector (aged, disability and child), education, charitable and faith-based organisations of all denominations – plus commercial property and arts, culture, heritage and historic properties.

Ansvar offers SME package, property, casualty and financial lines products across these classes to provide a broad multiline solution, including professional indemnity and management liability.

Its claims personnel are subject matter experts, particularly in complex and sensitive matters, and clients benefit from access to a dedicated risk solutions team – at no additional cost to clients.

“We’ll continue to refine the operating model to ensure we improve our responsiveness to our broker partners and clients, but it is a journey. We’re not going out there with a hard sell saying, ‘Hey, we’ve got the quickest turnaround time of any insurer.’ We’re saying we’ve listened and we’ll continue to improve our responsiveness.”

ACTIVE PARTICIPANT IN SPECIALIST SECTORS

Recent focus has been the Aged Care Act reforms and, also regulatory framework changes under development in the childcare sector. Ansvar has been closely examining the changing exposures and developing new products in response.

“Rather than shy away from that, Ansvar has worked with industry experts,” Mr Bailey said. “We’re actually going to be engaged in new framework discussions. That’s pretty unique – we’re an active participant in the sectors that we seek to insure.

“Some of our competitors may not necessarily be at the forefront of looking at what those legislative changes mean. They can’t be across everything because they’re not specialist.

“The depth that we talk about is being sector specialists. We offer a deeper level of knowledge and understanding to guide the right procurement outcomes for clients.

“We have one of the broadest appetites in our specialist space – from care and faith to education and community – but what defines us is depth. We know these sectors, and we’re committed to brokers who know them too.”

PURPOSE BEYOND PROFIT

At the heart of Ansvar is its unique model through which profits are distributed to charity.

Mr Bailey says this is a “very strong motivator” and makes a difference for client and broker partners.

“Not answering to shareholders is nice, a very different position than I’ve been in most of my career. As all profits are distributed to charitable causes,  we can assist those that are less well off in society. It’s a pretty good feeling.

“When brokers and clients choose us, they’re also choosing to do good.”

Find out more about Ansvar here.