Blue Zebra is still working to secure a new underwriting partner after Zurich last month announced it will cease providing security for the underwriting agency’s personal lines and SME policies.

Zurich says the current agreement will end on March 16, after it reassessed the agreement in the light of Blue Zebra’s pending expansion and performance that “was not aligned with…expectations”.

Blue Zebra launched in 2018, aiming to bring personal lines back to brokers and using smart technology to increase efficiency.

It has grown rapidly, with more than 100,000 policyholders and writing $110 million in premium over the past year. As insuranceNEWS.com.au has reported, Blue Zebra is now looking to move into SME, cyber and commercial motor, and is considering expanding overseas.

The company said last month it is working exclusively with Youi “to explore the opportunity to be Blue Zebra’s new underwriting partner for personal lines and SME business”.

MD Colin Fagen told insuranceNEWS.com.au today there was no update to report at this stage.

Zurich declined to provide further details about which aspects of Blue Zebra’s performance did not meet its expectations.

Mr Fagen believes that “they would have liked a better loss ratio,” but he says the relationship with Zurich remains strong.