Emergence has won two awards in the 2017 Insurance Business magazine’s ‘Brokers on Underwriters’ Awards.
Emergence won the ‘Brokers’ Pick’ for its cyber event protection product and a silver medal in the ‘Cyber and information technology liability’ category.
Emergence is the Australian market’s only specialist underwriter with a 100% focus on cyber insurance.
Managing Director Troy Filipcevic said the awards recognised the Emergence team’s hard work and dedication over a long time. “Brokers tell us we have the market-leading proposition,” he said.
This year Emergence released a new cyber event protection wording that enables brokers to develop bespoke cyber programs for their clients. “We listened to brokers’ feedback that cyber coverage was the most important issue to them and we delivered on that,” Troy said.
Emergence also delivered an expanded online portal that enables brokers to quote and bind cyber policies for more than 13,000 occupations for businesses with up to $75 million in annual turnover. “That capability is unrivalled in the Australian cyber market,” he said. “We also have the ability to write bespoke solutions for larger companies and ASX-listed entities.”
Emergence has invested in staff and launched an education initiative that includes broker presentations, blogs and webinars to build broker partners’ cyber knowledge.
Troy said the education initiative helped brokers have more informed conversations on cyber with their clients. “We recognise that service and technical expertise are important drivers for brokers, especially in an emerging product like cyber, which brokers are still trying to understand.”
He said the awards acknowledged that “when all you do is cyber, you get very good at it”.
“We have a team of passionate cyber experts who help brokers provide solutions for their clients and educate brokers about this specialist and rapidly evolving risk.”
The 2017 awards add to Emergence’s 2015 ‘Brokers’ Pick’ win for its cyber product and a bronze medal in 2016 in the ‘Cyber and information technology liability’ category.