Investment in technology could bring “some change” to
AUB Group, owners of the
Austbrokers broker network.
David Clarke, chairman of AUB Group, told its AGM that the firm is not ignoring the technology changes in the industry.
“The industry landscape and competitive pressure continued to change, with greater emphasis on technology seeing insurtech offerings start to emerge,” Clarke said. “The pace of innovation in this arena is continuing to accelerate. Recognising this, we have completed a review of our core network and infrastructure capability and how we deliver that to our partners.
“This will mean some change and we are confident it will place a better solution in the hands of our business partners.”
Clarke highlighted that the firm has initiated a technology outsourcing project which will see the group’s data centre and business support capabilities moved to a specialist provider to improve “performance, security and lower costs.”
“The added benefit is that our outsourcing partner maintains up to date applications and processes, which ensure that our businesses have the best business tools available,” Clarke continued.
Mark Searles, CEO and managing director of AUB Group, told the AGM that the firm will look to continue to lead the market on insurtech following its recent unveiling as a founding partner of Insurtech Australia.
“We firmly believe that by embracing new technologies and approaches we can support our partners and clients by reducing the friction involved in the risk management and insurance process,” Searles said.
Searles noted that the firm will “continue to invest in our people and our infrastructure” as the group looks to build on a solid financial year.
Meanwhile, with its CFO, Jodie Blackledge, announcing her resignation earlier this week, Searles confirmed that an external search will be undertaken to find a replacement – and a new CFO is not the only executive move planned by the group.
“We have also begun the process of searching for a further non-executive director to join your board,” Clarke told attendees. “We feel the business has grown and diversified to an extent that having another appropriately skilled non-executive director will add to the board’s capability.”
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