Melbourne-based broker Mathew Petruccelli has decided to retire after a career spanning more than 52 years in the insurance industry.

Starting out at Guardian Assurance after high school in 1967, Mr Petruccelli became an inspector five years later at the age of 21, and then a divisional manager based in Dandenong in 1976.

He founded Wantirna-based Arrowsmith & Petruccelli Insurance Brokers in the 1980s with Ray Arrowsmith, later selling his share of the business to Coverforce and partner Phil Arrowsmith.

“I’ve seen the transition from a paper office with major filing and mailing divisions to the advent of computers, fax machines, car phones, cordless phones and mobile phones and laptops,” Mr Petruccelli told insuranceNEWS.com.au. “It’s all been exciting stuff.”

He says that over the years there has been a significant shift in professional standards – “largely government-enforced" – and consumers now carefully and knowledgeably select insurance as a result.

“That was distinct from 53 years ago, when most insurance products were sold with very few customers having any idea what they were really insuring for or the extent of their cover,” he said.

The Insurance (Agents & Brokers) Act of 1984 “really was the start of the professional insurance era in Australia,” Mr Petruccelli says. It helped to decentralise the industry after the dominance of Melbourne as its hub.

In 2004 Mr Petruccelli developed an insurance program which he believes was the first truly global interactive website allowing customers 24/7 access to arrange policies.