DUAL has broadened its underwriting services in an effort to meet the increasingly complex needs of brokers across Australia and New Zealand.
The company has strengthened its team by appointing heads of specialty across accident and health, cyber, general liability, property, motor, transaction solutions, and financial lines. This expanded expertise will support brokers who require more customised insurance solutions for their clients.
This move follows the launch of DUAL Asset’s new title insurance offerings, extending coverage for real estate and mergers and acquisitions (M&A) transactions in Australia, New Zealand, Hong Kong, and Singapore.
Damien Coates, CEO of DUAL ANZ, said that the focus on bespoke underwriting services marks a return to the company’s original approach, where underwriters collaborated closely with clients to craft tailored insurance solutions.
“When we started DUAL 20 years ago, our model was to sit down with clients, find out what they needed and deliver solutions,” he said.
He said that while DUAL’s WebRater platform continues to play an important role in providing efficient underwriting for straightforward cases, the company is shifting to address a broader range of complex risks through direct broker engagement.
“We created WebRater after realising only around 20% of clients needed a bespoke solution and the other 80% would benefit from a smarter, swifter technology-driven underwriting approach,” Coates said. “Now we’ve come full circle. Our fantastic network of brokers talked. And we listened. What we heard was that, although WebRater still has a great role to play, many of our brokers also needed more flexibility.”
DUAL’s expanded product lineup now offers 21 types of coverage in Australia, spanning financial lines, accident and health, cyber, general liability, and transaction solutions.
In New Zealand, the company offers 15 products, including options in property, liability, financial lines, cyber, motor, and transaction solutions.
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Coates noted that DUAL’s commitment to local market expertise was a key factor in Allianz’s decision to partner with the firm, entrusting DUAL with the management of an A$50 million financial lines portfolio.
“It’s about locals doing business with locals. We can sit down over a coffee and work through a complex deal to negotiate the right cover. We listen to you and together we can develop a customised solution that meets your client’s needs,” he said.
He also said that DUAL’s capabilities align with broker needs for swift decision-making and strong claims support, allowing brokers to deliver a more responsive service to their clients.
“They want to know they’re dealing with someone they can trust, that the product being offered is market leading, and that we’ll give them a quick decision and deliver on our claims promises – helping them do more for their clients,” Coates said.
