The Underwriting Agencies Council (UAC) and Vero have announced a new strategic partnership which has been designed to boost the presence of underwriting agencies in the Australian insurance market.
Vero’s support would help UAC members build on their existing high levels of expertise through enhanced member services. This is according to UAC Chairman Damien Coates.
Coates said, “This year we announced our strategic plan to improve benefits for UAC members, like training and professional development, trade shows and regulatory representation. This, of course, requires funding, so we’re very pleased to have the support of Vero and our principal strategic partner, Lloyd’s Australia. Their investment will benefit the entire UAC membership, not just agencies that have relationships with our strategic partners.”
Andrew Mair, Vero’s Executive General Manager Intermediated Distribution, said underwriting agencies provided a critical service to brokers and insurers and Vero had identified great potential for growth in this model.
“Vero is proud to partner with UAC to help members further enhance their services for brokers and we’re looking forward to discovering greater opportunities in this $2.5 billion market. Vero already has successful relationships with underwriting agencies where together we’ve led the market in product innovation and specialist expertise. We’re definitely keen to build on this partnership model while we continue investing in our relationships with brokers.”
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