December 17, 2019
December 17, 2019 | Media Releases
Zurich and AFA agreement delivers Accident & Health solutions to more customers
SYDNEY, Australia – Zurich Australian Insurance Limited (“Zurich”) today announced a new agreement with underwriting agency, AFA Insurance Pty Ltd (“AFA”) to act as security for its Accident and Health (A&H) policies from 1 January 2020.
The agreement is focussed on Mid-Market and SME customers and will use AFA’s insurtech platform, eBIND and the A&H underwriting expertise of both parties. For Zurich, this agreement is an important pillar of its go-to-market strategy and is an example of providing unique solutions for brokers and customers.
Tim Plant, CEO General Insurance of Zurich Australia & New Zealand, said “We are excited to be working with AFA, a well-established and market leading A&H underwriting specialist. For us this agreement is closely aligned to our underwriting strategy, which is to grow in Zurich’s traditional areas of expertise using the strength of our Zurich brand and distribution team.”
Sean Walker, Chief Underwriting Officer of Zurich Australia & New Zealand, said: “We identified a gap in our A&H offering, and our AFA agreement complements our in-house A&H offering by providing a solution for a larger overall segment of our customers. As one of the leading A&H insurers globally we are delighted to share our insights and experience in this line of business. We each have a strong track record and a complementary set of core strengths to ensure success.”
David Porter, Managing Director of AFA said: “We are looking forward to working with Zurich, an experienced A&H insurer, and to leverage Zurich’s strong in market Distribution offering to profitably grow our portfolio, whilst ensuring that our product is customer and broker focused.”
This announcement represents a key part of Zurich’s underwriting agency strategy and provides a strong foundation for 2020. The agreement ensures Zurich can provide A&H customer solutions for every business size and structure.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
AFA is a market leading underwriting agency, founded by the late Ross Porter, specialising in the design, underwriting and broker focused distribution of Accident & Health insurance products for over 20 years. AFA’s customers include individuals from all walks of life, small businesses, mid-sized and large companies, as well as multinational corporations, associations and not for profit organisations, providing tailored product solutions for Personal Accident & Sickness, Voluntary Workers, Journey cover, Corporate Travel, Expatriate and Inpatriate medical insurance. Further information about AFA is available at www.afainsurance.com