Four former employees of Pen Underwriting have decided to “live or die by their own sword” and establish their own underwriting business, which will launch this month.
Portfolio Manager and Managing Director of About Underwriting, Liz Peach, says they saw an opportunity in the market and the timing was right on a personal level.
“We like the freedom of being able to run our own race, and a smaller organisation suits our personalities better,” she told Broker Buzz.
With 75 years’ combined industry experience, the team behind About Underwriting is focusing on providing package coverage tailored for professionals.
“We have a professional indemnity focus but we also provide general liability, management liability, cyber and statutory liability sections in our packages, and there will be a property offering down the track,” said Peach. “It’s like a one-stop shop for specific industries.
“The package policies have been written so that they gel together – there will be less gaps in cover than when you buy standalone products from different markets.”
Abount Underwriting, which will initially have offices in Melbourne and Brisbane, will also provide standalone products for the broader market.
Ahead of its launch, About Underwriting is using a range of strategies to get the word out to brokers.
“We will certainly be using social media, we will also be conducting face-to-face presentations and we will start advertising a little down the track, but for now we will focus on our network of contacts,” Peach said.
And for at least a little while the company will be enjoying its independence.
“Joining underwriting cluster groups is not something we’d rule out down the track but for now we’re happy to remain independent.” Peach added.
About Underwriting’s other founding members are Operations Manager, Danielle Ghazi, and Senior Underwriters, Jodie Banks and Melanie Baird.