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An Agile approach to Casualty Insurance
- Nov 11, 2020
- Views: 1381
This is allowing them to adapt to a more flexible business method/working environment as opposed to being locked down to one particular contract of work. This allows them to adapt and change working environments far easier given recent pandemic exposures which has seen the traditional business model suffer. At Agile, we are exploring how we can adapt our
Casualty offering to allow for flexible insurance solutions for the Gig Economy and Remote Workers. We have developed an insurance product, Remote Workers, which will provide cover for Cyber, Casualty, Portable Tools and Accident & Health Insurance for White Collar businesses and individuals who work remotely or from home.
Claims trends are always an area that will have an influence on the insurance market. With Casualty being a long tail class, these trends tend not to develop for a number of years. Recently we have seen many Insurer's, Underwriters and Coverholder’s have an almost knee jerk reaction to these trends and withdraw from the industry/sector/occupation where those trends are developing. At Agile, we work very closely with our security to monitor what trends are starting to develop (or have developed) and rather than have a reactive approach to these trends, we are taking a more proactive approach in our underwriting philosophy to look at the exposures accordingly. This does not mean that we can write every risk that comes across our desk, but where we can assist we will work very closely with our broking partners to provide a casualty solution for their customers.
Agile's Professional Indemnity insurance protects against claims arising from an act, error or omission in the performance of professional services.
Agile CyberCare covers small businesses against cyber threats and data breaches, including 24/7 emergency response for incidents.
Agile CyberSelect is aimed at mid-market to corporate clients and is a comprehensive Cyber Insurance policy with 16 policy benefits and 24/7 incident response.
Claims trends are always an area that will have an influence on the insurance market. With Casualty being a long tail class, these trends tend not to develop for a number of years. Recently we have seen many Insurer's, Underwriters and Coverholder’s have an almost knee jerk reaction to these trends and withdraw from the industry/sector/occupation where those trends are developing. At Agile, we work very closely with our security to monitor what trends are starting to develop (or have developed) and rather than have a reactive approach to these trends, we are taking a more proactive approach in our underwriting philosophy to look at the exposures accordingly. This does not mean that we can write every risk that comes across our desk, but where we can assist we will work very closely with our broking partners to provide a casualty solution for their customers.
Agile Underwriting Services
Area's to watch with claims trends for Casualty for the foreseeable future could be:
What stories do you hear when people are moving to or choosing Agile. When has someone called you because they didn't have Casualty insurance? What happened?
Many of our broking partners choose to work with Agile for their client's casualty needs because of our industry knowledge and experience and the personal service they received from our underwriting team in assisting them with making sure that they source the best cover at an affordable price for their clients.
Agile Underwriting Services
Claims management is also an integral part of the insurance purchase. Agile have an in-house claims management team that will work closely with the Insured, the Broker and our Underwriters in the management of a claim. With many years experience in claims management, you can rest assured that Agile will support you and your client through the entire claim process.
Affordability: Price is quite often the first thing that is the deciding factor in an insurance purchase, however, it should never be THE sole deciding factor. Quite often the price is driven by the cover provided so it is essential that when looking at the cheapest offer you also ensure that the cover is also provided.
We have designed "Commodity Style" casualty products, like Property Owners Liability, Scaffolders Liability, Trades Liability and many more, which allows our broking partners to transact these placements quick and easy, as well as ensuring the covers are specific to the client needs and are competitively priced. By doing so, this allows brokers to concentrate on the more complex risks which require an individual tailored underwriting solution that Agile can provide.
All information above has been provided by the author.
Agile Underwriting Services, ABN 48 607 908 243, AFSL 483374