From market exchanges to operational support, the partnership between the Underwriting Agencies Council (UAC) and Xceedance is set to continue into 2025.
UAC CEO Jenny Bax attributed the success of the 2024 partnership to a refined approach to market exchanges, one that prioritised stronger industry connections.
“Last year, we refined our approach to the market exchanges to emphasize genuine market connections and saw remarkable growth, with exhibitor numbers up by 12.4% and broker attendance increasing by 43%,” Bax said. “This success reinforces our unique position in facilitating meaningful industry connections and demonstrates the tangible value we provide to our members.”
The UAC’s market exchanges are a key component of the partnership. The first of nine exchanges scheduled for 2025 is the UAC Five Sigma 2025 Sydney Market Exchange, taking place Feb. 7 at the International Convention Centre, Darling Harbour. These events offer exhibitors the opportunity to showcase their products and services to the insurance broking community.
Prateek Vijayvergia, Xceedance business leader for key accounts in Australia, emphasised the value of UAC in providing direct access to brokers and underwriting agencies through these events.
Vijayvergia stated that Xceedance is focused on helping UAC members navigate industry challenges through insurance-focused consulting, process, operations, and data solutions.
With growth in Xceedance’s Australian claims, finance, and accounting practices, Vijayvergia expressed eagerness to share expertise with UAC members to enhance efficiency and customer experience.
“In recent years, Australia’s insurance industry has faced extraordinary challenges, from rising costs driven by our extreme weather, the rise of cybersecurity threats, and compliance with new regulations around data privacy, consumer protection and climate risk disclosure,” said Vijayvergia.
He said that Xceedance’s “deep industry knowledge combined with process and operational expertise enables us to support our clients across the insurance lifecycle with underwriting solutions, finance and accounting expertise, claims and policy services to enhance customer satisfaction.”
With the continued partnership between UAC and Xceedance, what are your predictions for the future of the Australian insurance landscape? Share your thoughts in the comments section.
