Allianz says it has increased its focus on supporting the SME sector and is providing an enhanced service model and products to support brokers and their clients.

Head of SME and dealer underwriting Matthew Millener says the insurer is building “great momentum” in the market and has “significant projects” under way.

“Allianz Commercial SME underwriting has moved to a state-based structure for our teams, empowering decision-making at a state level and enabling us to deliver care that is essential to building broker trust,” he said.

Total asset value limits for SME policies have increased from a $10 million threshold. The limit for new business has been lifted to $25 million for property owners and $15 million for other occupations under the business, office, trade and motor trade package products.

Allianz says the changes address rising building costs and provide solutions that allow brokers to place larger risks across their range of SME package products.

The insurer is supporting these changes with a “strategic platform and capabilities transformation”, and more initiatives will be announced soon.