Insurers offering tailored pricing and coverage are winning greater support, according to a report based on a biannual survey of Austbrokers & IBNA Member Services (AIMS) brokers.

Insurer moves to address profitability have come as many are “manufacturing” the same product to suit multiple client facets, with some past individual tailoring removed.

“Clients and brokers have choice, and they have become accustomed to exercising this choice to obtain the most suitable buying experience,” the report says.

“As a result, we see the beginning of the movement of coverages to insurers that will be more individualised in their pricing and coverage.”

The report, which includes Macquarie Bank commentary, says many clients are making claims experience a key feature of their purchasing choices.

AIMS has more than 150 members. The group’s five major strategic-relationship insurers participate in 58% of its portfolio, with CGU and QBE each accounting for 17% last year, Allianz 12%, Vero 7% and Zurich 5%. The group is expanding its relationship with other key insurers such as Chubb and Sura Underwriting.

As of November, CGU ranked first for satisfaction among the major partners, with a 54% average rating across all products. QBE jumped into second place with 46%, Vero and Allianz were equal on 44% and Zurich was lowest with 29%.

Including other partners, Chubb led with a 63% overall satisfaction rating, followed by GT and National Transport Insurance (NTI) on 58% and Dual on 57%.

For the business pack product, which accounts for 24% of the AIMS portfolio, CGU led with 56% satisfaction, followed by Sura on 55% and Chubb on 53%. For claims satisfaction, NTI and GT ranked highest with 50%, followed by Chubb on 45% and Allianz and CGU on 43%.

Macquarie’s commentary on the broader Australian market says IAG, Suncorp and QBE “experienced continued pullback” in commercial lines in the December half, with international carriers such as XL Catlin, AIG, Allianz and Chubb taking a “disproportionate” share of new business wins.

“While portfolio de-risking appears as though it will continue for the coming 12 months, it does appear that the larger repositioning has already occurred,” it says.