Ansvar dumps intermediated personal lines
Ansvar will stop offering personal line products through its brokers and authorised representatives and focus more on tailored products for its core segment of community organisations.
The decision takes effect from today for new business and March 31 for renewals, and does not apply to affinity partners and their members. Renewal certificates issued prior to March 31 will be honoured and remain with Ansvar until the renewal expiry date.
But the decision doesn’t mean the church-owned insurer is walking away from intermediated business.
Ansvar Australia CEO Andrew Moon says the company wants to deepen its reputation as a leading insurer in its specialist markets of faith, community service organisations, care, heritage and education.
“We will continue to maintain and strengthen our relationships with all brokers, to provide tailored insurance policies and services which we are truly expert at,” he said.
Mr Moon told insuranceNEWS.com.au the personal lines have been distractions and less profitable because they are broker-driven. “Ansvar is not big enough to be a mass-market player but will still provide personal lines for its affinity partners.”
He says that by getting “back to basics”, the company will refocus on higher value business where it has expertise.