Three years after Lumley NZ CEO John Lyon and senior managers saw their company sold to IAG they have re-emerged in the market with a new insurance operation.

Ando Insurance Group was launched in New Zealand last week with the stated aim of providing more choice in a “heavily consolidated market”.

The business is backed by Australian insurer and investor Hollard, which has a shareholding and provides the licence and capacity.

Mr Lyon heads Ando as CEO, with another former Lumley executive Dean Edwards as COO.

Its initial focus is on the commercial market, with domestic lines coming on board further down the track.

“We see commercial as an immediate opportunity, while the lead-in time for domestic is a bit longer,” Mr Lyon told insuranceNEWS.com.au.

“It is a heavily consolidated market, and there was demand from some brokers for more choice.

“We are not intending to be a small, niche player. We believe we have a multiline proposition that will be well received.”

Ando also intends to compete using new systems. “Our approach will be very different. It is about using technology to streamline processes and cut out costs to give the consumer a better outcome.

“Our focus is on responsiveness and bringing a fresh approach to a sector where there is still a lot of criticism about slow turnaround and bureaucracy.”

The business, based in Auckland, employs 11 full-time and nine part-time staff, and Mr Lyon says growth will be a focus.

“The staff is dominated by former Lumley employees, but we are not trying to recreate Lumley. They are simply people who we know and trust and who have the same aspirations.”

Hollard Australia CEO Richard Enthoven says his company has been looking to enter the New Zealand market for some time.

“Now we’ve found the right partner, the right people and the right expertise, we’re confident of a highly successful future together,” he said.