Austbrokers partners with CoreLogic to give brokers real-time data for their clients

Austbrokers has partnered with CoreLogic to enable their partners to access Cordell Commercial Estimator, Cordell Sum Sure, and RP Data Professional. The addition of these new tools will continue to enhance the Austbrokers partners and set them apart from the majority of the industry, enhancing each broker’s profile, while providing clients with accurate estimates for the replacement costs of commercial and residential properties and ultimately attracting new clients.

Brokers will be able to have access to property data and analytic systems, which will give them deeply-researched construction data at the touch of a button. The data will give clients a better understanding of the appropriate sum insured for their building and, in the case of an insurable event, provide them with an accurate cost for rebuilding, making the process easier and faster.

Nigel Thomas, Divisional Chief Executive, Austbrokers Network, said, “Partnering with CoreLogic aligns to our Group’s strategy of being a trusted advisor. This new technology partnership will support our broker partners to enhance the value they bring to their clients, and continue to endorse them as trusted advisors.”

Mark O’Reilly, Austbrokers Countrywide, said, “Using CoreLogic systems means that we can add more value to our clients based on real data to give them a more accurate cost to rebuild, and thus a more robust insurance cover that better meets their needs. It also helps us stay ahead of trends in the market so we can give clients proactive advice to help them get the most out of their policy.”

Sonya Fisher, General Manager Sales – Insurance & Federal Government, CoreLogic, said, “CoreLogic is honoured to partner with Austbrokers and its broker partners to provide tools that add value to client engagement, address underinsurance for both commercial and residential properties, and help brokers stay abreast of what’s happening in the real estate market. Austbrokers was immediately able to see the value that the CoreLogic tools would deliver for both their brokers and their brokers’ clients, which made the decision to proceed an easy one.

Determining the level of insurance required for a commercial property can be difficult as the rebuild estimate should be for the cost to rebuild to current code standards and should also allow for cost inflation. CoreLogic’s deeply-researched Cordell construction cost data contains the most up-to-date prices for building materials, labour, and project timeframes, providing the ability to generate a real-time commercial building replacement cost estimate to reduce the risk of underinsurance.”

 

About CoreLogic

CoreLogic Australia is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), which is the largest property data and analytics company in the world. CoreLogic provides property information, analytics and services across Australia, New Zealand and Asia, and recently expanded its service offering through the purchase of project activity and building cost information provider Cordell. With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 500 million decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information.

With over 20,000 customers and 150,000 end users, CoreLogic is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, building services, insurance, developers, wealth management and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and geo spatial services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic employs over 650 people across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au.

NZbrokers Continues to Build Strong Momentum with Acquisitions and New Members

MEDIA RELEASE

February 27, 2018 – NZbrokers continues to build momentum through strong growth within the current network and a solid pipeline of potential acquisitions and new members, having grown from 56 to 60 partners in the last 12 months.

Jo Mason, CEO, NZbrokers, said, “Our broker network now represents more than 164,000 clients in more than 85 locations across the country, which is a 35 per cent increase on 12 months ago.

“It’s fantastic that our network is growing across all metrics. We believe this reflects the value of the collective and our members seem to agree, having rated us a Net Promoter Score of 34+, which is phenomenal considering the industry average is 4.”

NZbrokers’ Gross Written Premium (GWP) increased by 20 per cent over the past 12 months, further solidifying its position as the largest broking management group in New Zealand. While premium rates are hardening, these are inconsistent across geographies and classes, and the overall market remains competitive.

As a part of its strategic goals, NZbrokers is focused on driving benefits that add value and enhance its partner businesses. This includes significant investment and resource allocations in developing technology that supports the insurance broking needs for clients now and into the future.

Jo Mason said, “NZbrokers is also investing in, and implementing, education initiatives and philosophies that will appeal to and support insurance professionals as their needs change. When it comes to education, we believe that financial investment is not the only way. Creating meaningful content that has cut-through and uses new methods and technologies, taking into account how time-poor we all are, are important considerations for the industry in better serving clients.”

-ENDS-

 

About NZbrokers

NZbrokers is New Zealand’s largest insurance broking collective, representing more than 60 independent businesses across the country. From Kerikeri to Invercargill, and everything in between. Recognising the benefits of working together, the driving philosophy behind its rapid success is that each member leverages the strength and capability of the national group, while retaining their successful formula of local knowledge and long-standing relationships.

Each member includes only well-respected and well-established brokers with a common purpose to better serve their clients. And while backed by the professionalism, 30 years’ experience and support of its parent company, AUB Group Limited (ASX:AUB), NZbrokers is locally run, by local professionals, for local businesses.

AUB Group announces 91.5% profit boost

AUB Group has announced that its reported net profit after tax for the first half of 2018 has increased by 91.5%. The firm announced that its reported NPAT has hit $23.4m, compared with $12.4m in the first half of 2017, as adjusted NPAT also rose 15.1% to $16.7m, compared with $14.5m in prior corresponding period.

Profits rose thanks to “strong underlying business performance” as well as profits on sale and non-cash accounting adjustments relating to mergers and acquisitions throughout the half.

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