Insurance Business Australia's (IB) Brokers on Underwriting Agencies survey features underwriting agencies deemed exemplars of excellence for the quality of their service, including coverage, overall service level, turnaround times for new business and claims, broker support, premium stability, and commission structures.
The winners received medals across one or more of 16 underwriting niches: accident and sickness, commercial motor, construction, cyber and information technology, directors and officers, financial lines, hospitality, management liability, marine, not-for-profit, product liability, professional indemnity, property, public liability, strata cover, and travel.
Pen Underwriting (Pen) is one of the companies that caught brokers' attention this year, earning:
What makes Pen so outstanding that it earned multiple awards this year – including the Brokers' Pick medal (awarded for top products) – is its people, according to Pen chief executive Ken Keenan.
“Every single one of us really wants to deliver for our brokers and capacity providers,” Keenan said. “We've done the math; between us, we have over 1,000 years of underwriting experience, and we leverage this every day to produce outstanding results.
“The onset of the pandemic really highlighted the importance of the wellbeing, growth, and development of our people, so we prioritised making the experience of working at Pen a positive one – after all, it is our underwriters that serve our brokers and ultimately deliver profits to our security. Our aim is to empower our teams to utilise their skills, expertise, and experience to deliver the best results we can.”
Learn more about Pen, which will celebrate its 10th anniversary this year, by reading its profile. See the rest of this year's winners by reading the IB Brokers on Underwriting Agencies 2022 report.
