Authorised representatives (ARs) with the Resilium, the Suncorp group AR network can now own their portfolios.
The network has also announced a partnership with Macquarie Bank will allow ARs to access immediate funding on their entire business.
Adrian Kitchin, managing director of Resilium says that by owning their portfolios, ARs can unlock value through acquisition, succession planning or growth.
“There is no doubt our value proposition for ARs is now unique in the industry,” he said.
“Growth in a low-growth environment is always a challenge. Suncorp’s focus on creating value for customers allows Resilium ARs to provide insurance solutions to customers that previously may have had unmet needs.
Kitchin has also revealed an educational partnership with Deakin University to train ARs to become “not only highly trained technical insurance experts, but also skilled business owners”.
Course modules will include developing budgeting and forecasting skills, plus human resources capabilities such as incentivising staff, hiring and handling conflict.
“In an increasingly competitive insurance landscape, we know that those business owners who want the expertise of an insurance adviser have high expectations of professionalism and skill,” Kitchin continued. “And we intend to ensure our ARs can deliver on those expectations.”