Welcome to our first edition of CGU InSTRIVE. Following the successful launch of our STRIVE broker development series, our revitalised quarterly newsletter is the first of many initiatives we intend to deliver to nurture growth through business updates, insights, news, and views. As a trusted intermediated insurance partner, we believe our greatest value is to support your ambition in a changing world. InSTRIVE is just one of the many channels we will develop as we seek to explore complexity and extract commercial insights to help you be the best possible advisor to your clients.
It’s hard to believe we’re almost half-way through FY23, and another calendar year is drawing to a close – one that has been memorable for the best and worst of reasons.
Southern Australia is experiencing significant weather events with towns in regional Victoria and NSW dealing with flooding from multiple rain events, and power outages caused by recent storms. The ground remains soaked and with every drop of rain the possibility of more flooding. With more wild weather predicted for the remainder of summer, even the most resilient are feeling fatigued.
At the very worst of times is when we are at our best. Our claims teams are on the ground with SES crews and ICA representatives to support these communities as the flood waters recede and power is restored. Our assessors and builders are ready to mobilise when properties are safe to enter, and our teams are well positioned to settle claims as swiftly as possible. With more severe weather predicted, alleviating international and local supply chain pressures remains a top priority. We are focussing on improving and developing our supply chain and have put on additional builders around the country, in readiness to support our broker partners and customers for what may lie ahead.
We also know that preparation and mitigation are crucial. To help our broker partners prepare customers for a range of possible weather events, we have recently released a series of Weather Fact sheets:
Within them are insights from IAG’s Natural Perils team and I encourage you to share them freely with your clients and communities.
This past quarter has been especially busy with CGU’s national STRIVE broker events wrapping up in October, where we delivered key economic, supply chain, geopolitical, and climate insights designed to help our broker partners navigate a changing world with their clients. My leadership team and I relished the candid discussions at our panel sessions and the opportunity to connect with brokers in person. Feedback has been overwhelmingly positive and we’re looking forward to delivering our next STRIVE events in early 2023 – please keep an eye out for your invitation. If you haven’t yet read the STRIVE Report, you can access it here. I encourage you to share it widely amongst your professional and personal networks.
CGU’s momentum continues to grow as we strive to build a better business around our broker partners. In August, our Strategic Broking claims team were awarded Claims Team of the Year at ANZIIF Awards. In September, our Property ISR team (Laura Kent, Paul De Abreu, Richard Daley and Arthur Frossos) swept the field at the International Network of Insurance Conference, awarded in three categories for excellence in service delivery against a number of global companies. In October, accepting the NIBA Large General Insurer of the Year Award on behalf of CGU was my absolute honour.
As exciting as winning awards can be, we at CGU we know our work is not yet done. It is truly humbling to be acknowledged by our broker partners for the progress we have made so far. Your recognition has spurred us on with even greater commitment to deliver on the initiatives that we hope will make our business easier to deal with. We remain true to our goal to be your insurer of choice, helping you to grow yours and your clients’ businesses and supporting your ambition through the best and worst of times.
Best Regards,
Damien Gallagher.
Whether your clients are looking to insure a small commercial property or a large corporate risk, CGU has it covered. Backed by one of Australia’s largest general insurers, coupled with a strong, sustainable approach to risk and long-term stability, your clients can be confident that we have a commercial property solution that fits their needs.
We are confident that our renewed approach to both commercial and corporate property risks will continue to support a strong and stable book.
We have an experienced national team of Property Underwriters, offering local presence, service, and knowledge to work with you and your client for the right property solution.
As clients’ needs vary, CGU provides tailored underwriting solutions via dedicated underwriters who ensure their unique needs are understood and the right cover provided. Recent market insights have been shared by our property underwriters here.
We offer an extensive range of asset protection and risk management options, supported by the global reach of overseas network partners and access to IAG’s resources and big data. With local decision making and a clear and consistent risk appetite, we will work with you to develop tailored solutions for your clients.
For more information, speak to your Broker relationship Partner today.
We recently held our inaugural, broker development professional development series, STRIVE, around the country. Launching in Sydney, our CGU leadership team felt both proud and privileged to share with many of you the rich insights contained in our first STRIVE Report. STRIVE underpins our pledge to be the insurer who supports you and your clients’ ambition, and these sessions are designed to go beyond insurance products, tackling big picture issues head on.
Damien Gallagher, EGM CGU said the forums have demonstrated that there is strong appetite for insurance brokers wanting to build upon their professional ambition and thrive in a changing world.
“We’re delighted to be reconnecting with our broker partners, as we reaffirm our commitment to building a better business around them. We’re seeing great traction and engagement in these sessions, which evolved from a simple idea, to re-imagine professional development days and support brokers with solutions, training, relationships, insights, vision, and enterprise [S.T.R.I.V.E].”
The STRIVE Report
As mentioned, the events were an opportunity to bring you our first STRIVE Report. We curated insights from a range of subject matter experts from across the broader IAG business, to develop this comprehensive research report, distributed to session attendees around the country. Now available for you to download here, the report details the increasing impacts of climate change and provides guidance on the preparation actions that broker clients’ and communities can take to mitigate risks and build resilience.
It also highlights the social and economic trends currently impacting Australian businesses and communities, covering topics such as supply chain, the changing world of work, industry issues, and global events.
The aim of the report is to support you as trusted advisors, increasing the value you bring to customer conversations and providing in-depth information on a range of crucial topics. We hope you will share this with your clients, to help them understand the complexity of the insurance landscape and refine their insurance programs accordingly.
Stay tuned for our next edition of The STRIVE Report, as well as the next round of STRIVE professional development days in early 2023!
In this instalment of Fast 5, we introduce you to Mark Chisholm, National Underwriting Manager, Property. Mark has a wealth of Property Underwriting experience, working in the insurance industry for 22 years at some of Australia’s largest insurance companies, leading his teams whilst passing on knowledge, insight, and expertise.
1. Tell us a little bit about yourself and your role.
I have been in Insurance Industry for 22 years, 20 of those in Property Underwriting. I have worked in Property Underwriting roles for of some of Australia’s largest companies and led Property Underwriting teams. My current role is National Underwriting Manager for Property within the CGU Underwritten Lines segment.
2. What do you find most rewarding about working at CGU/IAG?
The number of people you work and connect with and the experiences you gain through the breadth and diversity of the organisation.
3. Who or what has been the biggest influence on your career?
Throughout each role I have held, it has been the leaders whom I have worked with and the sage advice they have provided and passed on.
4. Name 3 things you enjoy doing outside of work.
Taking my 7-year-old daughter and 3-year-old son to the park to watch them play whatever sport is their favourite at the time.
Watching the Essendon Football Club play at the MCG or Marvel Stadium on a weekend!
A glass of wine at night with my wife when the kids have gone to bed!
5. What’s your latest Stan or Netflix binge?
“Winning Time – The Rise of the Lakers Dynasty” on Stan. Based on the Los Angeles Lakers Basketball Team in the 1980’s – it’s a great watch with focus not just on basketball by the socio-economic climate in the 1980’s.