Zurich Australian Insurance Limited has announced a new agreement with underwriting agency AFA Insurance to deliver accident and health (A&H) policies to more customers.
The agreement, which is focused on mid-market and small and mid-size enterprise (SME) customers, will use the underwriting agency’s insurtech platform eBIND and the underwriting expertise of both companies.
“We are excited to be working with AFA, a well-established and market leading A&H underwriting specialist. For us this agreement is closely aligned to our underwriting strategy, which is to grow in Zurich’s traditional areas of expertise using the strength of our Zurich brand and distribution team,” Tim Plant, chief executive officer general insurance of Zurich Australia and New Zealand, said.
David Porter, managing director of AFA, added: “We are looking forward to working with Zurich, an experienced A&H insurer, and to leverage Zurich’s strong in market distribution offering to profitably grow our portfolio, while ensuring that our product is customer and broker focused.”
Zurich said the agreement is an important pillar of its go-to-market strategy and is an example of providing unique solutions for brokers and customers. It also provides a strong foundation for the company in the coming year.
“We identified a gap in our A&H offering, and our AFA agreement complements our in-house A&H offering by providing a solution for a larger overall segment of our customers,” said Sean Walker, chief underwriting officer of Zurich Australia and New Zealand. “As one of the leading A&H insurers globally we are delighted to share our insights and experience in this line of business. We each have a strong track record and a complementary set of core strengths to ensure success.”
