CGU has launched a marine insurance tool to enable brokers to provide marine quotes, regardless of the knowledge they have of the marine insurance business.

The insurer’s marine team designed the web-based MyMarine tool to use intuitive questions.

For example, the tool asks whether a cargo will be sent overseas or only interstate. Based on the answer, the tool then asks further relevant questions.

GM Broker & Agent Mark Searles says this allows brokers to quote on products they may have little knowledge about, as they do not need to know which questions to ask.

“By using intuitive questions, it prompts the broker to supply all the information needed to accurately price the risk, as well as ensuring the right level of disclosure is reached,” he said.

“This removes the risk of non-disclosure and also ensures the quote provided is for a sufficient level of cover for the customer.”

The tool allows brokers and advisers to quote and bind on three types of marine cargo risks in Australia and overseas: single transit, annual cargo and home contents in transit and storage.

It also provides electronic referral for high-value and complex risks.

CGU has also appointed Oliver Miloschewsky as National Underwriting Manager, Marine.

He was previously the National Manager, Marine Special Risks and Regional Marine Corporate Specialist at Great Lakes Australia, which is owned by Munich Re.