The CEO of an award-winning underwriter has pointed to brokers as one of the key drivers behind the agency’s ongoing success, saying their feedback is an invaluable resource for improvement.
“Feedback and input from brokers is critical to ensuring our offering remains relevant and leading in the industry,” said CHU CEO Bobby Lehane (pictured). “Our broker partners are not shy in providing feedback and we genuinely listen and try to take it on board.”
Lehane’s comments come after CHU was identified as the best underwriter in the strata space, in the 2019 Brokers on Underwriting Agencies survey.
CHU has performed consistently well in the strata space, picking up the gold medal for the fourth consecutive year and also taking home a Brokers Pick award for its residential strata insurance plan.
“We are delighted to receive that recognition from the industry,” Lehane told Insurance Business. “CHU has significantly refocused its business over the last four years to ensure that the broker’s voice is heard loud and clear within CHU. This vote confirms that we are on the right track.”
Lehane, who was also crowned Financial Services and Insurance Executive of the Year at the 2019 Executive of the Year Awards, said CHU continually challenges itself to be the best it can be.
“We get feedback from our broker partners through surveys and, of course, direct feedback to the BDM network,” he said. “We take nothing for granted and are in no way complacent, which means we will never stop trying to improve.”
Despite a run of high performance and happy brokers, Lehane admits that there have been some challenges for those operating in the strata space.
“Obviously, cladding has been a significant issue for the industry, with a number of our competitors just refusing to offer cover,” said Lehane.
“As the market leader, we took a lead position in finding solutions and we’re proud of the work that we’ve done with a number of brokers in helping to address the gap.”
Lehane also noted that the the core strata product has become increasingly complicated, coming under more scrutiny by consumers seeking to pay for only what they need.
“The demand for tailored, more flexible insurance policies is growing and the need to simplify the core strata insurance product is vital,” said Lehane. “CHU through Flex Insurance has been working hard to meet that need.”
