A partnership agreement for Community Broker Network to provide managed services to Insurance House authorised representatives will enable the latter business to focus on its broker network.

Melbourne-headquartered Insurance House says it has been through “a period of exponential growth and significant change” over the past two years.

Both its AR network – called Insurance House Advance – and broking network have grown rapidly since the parent company was acquired by Steadfast in August 2022.

“Currently, Insurance House supports over 100 physical locations and over 700 staff across both its Advance and broking networks,” a joint statement from Insurance House and CBN says.

“With this positive growth, Insurance House resourcing has been stretched and it has become clear that [its] desire to provide an unparalleled customer experience could not be met without further investment.

“Over the past six months, Insurance House has conducted a thorough review of its AR value proposition, also evaluating the offerings available in Australia’s highly competitive AR market. Insurance House believes the support ARs require to manage and grow their business while adhering to the latest in compliance requires dedicated, specialist support and services, which CBN is set up to provide.

“Operating an AR network alongside a broking business requires clear business strategy, operational diversification and significant financial investment. By transitioning its managed services to CBN, Insurance House will be able to focus on growing and solidifying its position as a leader in Australia’s broking market.”

As reported in a Breaking News bulletin yesterday, insuranceNEWS.com.au understands no acquisition has taken place and that Insurance House Advance will continue as a brand. The companies say CBN is providing “key managed services” to Insurance House ARs under an “outsourcing arrangement”.

However, they confirm they are “working on a transition plan for Insurance House ARs to move to CBN”.