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Hollard replaces AIG at Steadfast Direct

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Hollard will begin writing business through the Steadfast Direct personal lines panel from the middle of this month after agreements were finalised for it to replace AIG.

The insurer will be offering car, home and landlords’ policies under the Hollard Personal Insurance brand, building on a relationship with Steadfast through its commercial subsidiary HCi.

“This complements our existing commercial product offering and enables us to appeal to a broader market,” Hollard CEO Richard Enthoven said.

Brokers were advised last week that arrangements were in place for Hollard to take over responsibility from AIG for the technology and personnel required to distribute via Steadfast Direct. The change takes effect on December 16.

AIG came on board two years ago and was contracted for five years, but insuranceNEWS.com.au understands Steadfast has recently been highly critical of AIG’s service standards and that the insurer’s departure was not voluntary.

IAL, which is part of Sydney-based IAG, remains the other personal lines underwriter on Steadfast Direct. The platform was launched in 2015 to allow brokers to offer clients retail insurance products.

Steadfast EGM Asia, New Zealand and Direct Allan Reynolds says in a note to brokers that a smooth transition is expected.

“We will work closely with all parties to ensure there is minimal disruption and continue to deliver the highest levels of service to our broker network.”

The decision to replace AIG with Hollard does not affect the insurer’s private client group offering or agreements with underwriting agencies Mansions and Nautilus Marine. AIG says it remains committed to the Australian market.

“Focusing on our core commercial product areas remains a priority, as well as our commitment to the Steadfast Client Trading platform across all the products we support,” it says in a statement.