New underwriting agency FTA Insurance says it has enjoyed a positive start, receiving 300 submissions in its first month and binding one in three quotes.

Sydney-based FTA – standing for Fast Turn Around – began operations on August 28 and is backed by four Lloyd’s syndicates.

Partner Christian Garling told insuranceNEWS.com.au FTA’s goal “is to be a meaningful partner to our insurance brokers”.

 “The corporate world lives in a bubble and doesn’t understand brokers’ everyday stresses and frustrations. We have complete empathy because we are in the same situation as they are.”

Mr Garling has nearly 20 years’ underwriting experience in Australia and the UK. Before forming FTA he was head of agency underwriting at Great Lakes Australia.

He says he and business partner Lewis Patton formed the company because the increasing “transactionalisation of the insurance process” has left a gap for professionals who complete fast turnaround on quotes.

“We are about talking to brokers. We aren’t hiding behind our emails and computers.”

FTA targets SMEs from minimum premium of $500, up to $100,000.