ii-A Director Polina Kesov started the Sydney-based brokerage in 2006 with her business partner Peter McDermott Junior. But she’s now on her own after he died following a short illness in November last year. 

Tell us about your business partner 

Peter and I have worked together at Allianz and then subsequently in 2006 we decided to start our own business. We had a very successful journey together for 17 years and unfortunately last year, Peter got sick with cancer. 

We miss him a lot and it’s not easy but I told myself that we’ve got to make the business even stronger and better because he would have wanted it. 

I am the sole director now and we have five brokers and two administrative staff. 

What’s the most common misconception about brokers? 

One common misconception that the public may have about brokers is that we work exclusively for insurance companies and are primarily focused on selling insurance products. But we don’t. 

We act as advocates for clients throughout the insurance process and it is important to clarify that brokers work as intermediaries between insurance buyers and insurance providers. 

We represent the interests of the clients rather than the insurance companies. Clients need to be aware that brokers have access to a wide range of insurance providers, including both large and niche companies. We can offer clients a variety of insurance options from different insurers, enabling clients to make informed decision based on their preferences and coverage requirements. 

Our primary goal is to ensure that clients have appropriate and sufficient coverage that aligns with their best interests. We have in-depth knowledge of the insurance market, industry trends and policy details. We stay updated with changes in insurance regulations and product offerings, allowing us to provide informed advice to clients. 

Are referrals important? 

Absolutely yes. Referrals are important. The entire business we have built is almost entirely based on referrals. I strongly believe that referrals are the foundation of a broking business. And I love getting referrals from clients. That’s obviously without a doubt the best feeling. 

When clients refer their friends, colleagues and/or family it indicates a high level of trust and satisfaction. Referrals help build credibility and establish the broker’s reputation as a reliable and trustworthy professional. 

So ii-A was independent since day one? 

That’s right. We have never been part of any broking groups and it has not been a disadvantage. It has not affected our access to capacity even when it’s a hard market like now. 

We do a lot of work with a large number of underwriting agencies as we have a lot of hard-to-place business. Underwriters and insurers have always been quite supportive. 

Tell us about ii-A 

We have clients pretty much in every state and territory and from all walks of life. The biggest part of our book is financial and professional services, followed by construction and trades. Recently, we've been doing a lot of fintech and tech type of insurance policies. 

Share with us an example of how you helped a client with a claim 

There’s been several during my years running the business. A recent one relates to a roof plumber who had a faulty workmanship claim. The insurer initially said the policy has an exclusion for this type of claim but I decided to go through my work records for this client and the paperwork shows he was covered for it. What happened was the insurer did not communicate the policy changes to us and the insurer agreed they did not inform us about it. 

It was a $78,000 claim and my client was really happy, and his client was happy too. I thought this was a great outcome. Sometimes you’ve just got to go through your paperwork and not just accept the response but work with the insurer to see what can be done. 

How has the industry changed since you became a broker? 

So much, is all I can say. Lots of regulatory reforms such as enhanced customer protection, increases in transparency and huge improvements in industry practices. The industry has become more competitive too and this has led to a wider range of insurance products and options for clients. 

Technology is another. The industry has embraced automation in many internal processes and this has led to a better customer service experience. The representation of females in the industry has increased over the years, but there is still progress to be made in achieving gender equality.