Proposal to transfer CGU insurance licence
October 28, 2016
CGU Insurance has been voted Insurer of the Year, by Insurance Business magazine for the second year.
The award, which is voted for by insurance brokers, gave CGU the most votes across the 11 award categories including top marks in areas such as product range and innovation, as well as broker training and development.
Ben Bessell, IAG Chief Executive Commercial Insurance, which owns the CGU business, said he was rapt to have received the award two years in a row.
“To receive feedback by brokers in this way means we’re not just on the right track but we’re doing things that actually create real value for our partners and customers,” he said.
“It’s a credit to our people who are, despite challenging market conditions, continue to find ways to add value to our partners and help them see it through,” Mr Bessell said
CGU continues to look for ways it can help its broker partners and customers by improving its product and service offering. Recent initiatives include:
CGU Cyber Defence
CGU’s cyber product is designed to help mitigate against the rising number of cyber attacks that undermine businesses. Developed with a focus on SME customers, CGU Cyber Defence helps to protect businesses from cyber incidents such as privacy breach, system damage, extortion, computer virus, crime and hacking. The product launch featured product demonstrations at trade conferences and online webinars for brokers to learn about the covers and claims service.
Rise of the shared economy
CGU and its parent company IAG are embracing the shared economy and looking for ways to help brokers and customers navigate this changing environment. Recently Ben delivered a presentation on emerging trends which will have the greatest impact on insurance advisers.
“The sharing economy is based on a model where customers have more power than ever, are more informed than ever, and transactions are more transparent than ever,” explained Ben.
Greater control when managing claims
After feedback from brokers, CGU improved the functionality of its claims portal. The new platform gives partners the option to lodge claims online, as well as search for and view claims information 24/7. Brokers can also manage claims for commercial customers who have taken out a motor, business, property (including home and landlords), marine or travel insurance policy.
Over 450 insurance brokers participated in the annual Insurance Business survey. The survey results will appear in the next edition of Insurance Business magazine. You can read an interview with Ben Bessell in Insurance Business here.