AUB Group says the launch of non-equity network, The Insurance Alliance, provides a new business opportunity and complements its existing offerings for brokers.

“We have built a strong and valuable list of services that are of benefit to both brokers and their clients,” Chief Broking Officer Ben Bessell told insuranceNEWS.com.au.

“We’ve therefore decided to offer a sub-set of these services to a broader cross section of brokerages in a non-equity network and believe there will be strong demand for this alternative offering.”

CEO Mike Emmett says the alliance is a “natural next step” for the group and will enable a broader cross-section of Australian brokerages to benefit from the group’s services, which have been boosted by recent enhancements.

“AUB Group now has a full suite of services to assist a broking business to increase revenue, improve client service and enhance broker profitability,” he said. “We’ll work with each interested party to identify the specific benefits they’ll achieve by joining The Insurance Alliance”.

The company earlier this year established Austplacements, a dedicated unit to assist with complex risk placements in local and overseas markets. It has also introduced the ExpressCover technology platform and launched data and analytics services last year.

Membership of the alliance will allow brokers to access those offerings, insurance programs and other shared services including risk and compliance, IT, finance, training, and assistance with complex claims.

Mr Bessell says the equity model in Austbrokers and Austagencies networks remains a core part of the group’s DNA, but a number of inquiries have been received over the past few years for the type of alternative offered through the alliance.

“Establishing The Insurance Alliance is an additional business opportunity that will leverage some of the services we already deliver, and for Australia complements the NZBrokers non-equity network we already own and operate in New Zealand,” he said.