Lumley has officially ceased to write new policies but IAG says the exact future of the acquired brand is yet to be decided.
Guided by input from brokers, the new CGU policies have taken on elements of Lumley’s policies.
IAG Commercial Insurance Executive Broker Business General Manager Donna Walker says this transition period has been a year in the making and that IAG is still working through how the Lumley brand will be repositioned into its underwriting agency business.
“We have adopted a very disciplined and considered approach with the whole integration exercise. We haven’t rushed to do things, because we want to make sure that we look at things from all angles,” she says.
“We’ve been thinking about possibilities, and thinking about how we might do things differently, and thinking about our service proposition going forward.
“We’re not going to be driven by timeframes to make decisions. We want to actually really get this right, because the Lumley brand is a valuable one.”
Keep an eye out for the August-September issue of Insurance & Risk Professional magazine for in-depth interview with Donna Walker.