ICIB Brokerweb, which already has an extensive portfolio of products and services across multiple branches in New Zealand, is setting up a dedicated transport and logistics practice in Auckland through the company’s swoop for MultiSure and its transport insurance brand TruckSure. Here ICIB Brokerweb managing director Grant Milne (pictured) talks about the targeted expansion.
As previously reported, ICIB Brokerweb acquired MultiSure to establish the dedicated unit in 2024.
Speaking with Insurance Business following the announcement, Milne said: “There is a lot of potential in the transport & logistics segment. There has been, and continues to be, consolidation in the transport sector and significant pressure on business costs. Insurance spend is generally in the top three or four business expenses and, therefore, regularly comes under scrutiny.”
Through the new transport & logistics division, the goal is to help firms manage insurance costs while adding value to their businesses, given the brokerage’s specialist knowledge and experience.
Read more: ICIB Brokerweb swoops for MultiSure
“While ICIB Brokerweb offers a full suite of fire & general and life & health insurance broking services, we have always had a focus on delivering high-quality risk management advice and insurance broking solutions in targeted industry segments,” Milne said.
“We believe that client care starts with having the right insurance broker. Brokers need to have a deep understanding of the client’s industry and, by talking to the business owner and understanding their business, can then curate the best risk management and insurance solution for them.”
According to Milne, the wider group is “very well placed to deliver value” for new and existing clients alike, as ICIB Brokerweb rolls out its updated client value proposition next year, in line with the intermediary’s merged business strategy.
“With the merger of ICIB and BWRS in December 2022 and the additional acquisition of MultiSure and TruckSure this month, we have a number of clients and specialist insurance brokers in our business to create a dedicated transport & logistics specialty,” he said.
Read more: What will ICIB Brokerweb look like?
When asked whether his camp is actively on the lookout for further acquisitions, Milne had this to say: “Always! We are active and curious and looking for opportunities that strengthen our client solutions and are strategically and culturally aligned with our values.
“The ICIB DNA is all about adding value beyond the insurance transaction – something we have been proudly doing since the inception of our business in 1975.”
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