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.
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Zurich Financial Services Australia is a life insurance, commercial insurance and investments specialist that has been participating in the Australian market since 1920. Since its acquisition of OnePath Life from ANZ in 2019, the company provides life insurance to more than 1.5 million Australian customers under both the Zurich and OnePath Life brands. Further information about Zurich Financial Services Australia is available at www.zurich.com.au.
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. 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 is available at www.zurich.com.