6 minute read
WIP Group
The WIP Group is an independent Lloyd’s coverholder that provides bespoke underwriting, broking, consulting and claims services for accident & health opportunities. We hold the distinction of designing the Best Insurance in Superannuation, as awarded by Money magazine, for six consecutive years.
What do we do?
The WIP Group prides itself on building bespoke accident & health solutions for our brokers, clients and the retail market. At WIP, we ensure coverage for all insured persons – no occupations or employment categories are excluded, including part-time and casual workers.
Who do we service?
WIP Group currently builds tailored solutions for industry superannuation funds, brokers, corporates, employer associations and unions. WIP Group is the only underwriting agency providing group income solutions to industry superannuation funds.
What do we offer?
First and foremost, WIP Group promises to look at every opportunity with a different lens to ensure our solution is not one that is in the marketplace and will provide our clients with a true point of difference.
Through its consultative approach, WIP Group has achieved major innovations and positive outcomes, including:
• benefit payments to employees and super fund members totalling more than $215m over the past 11 years
• creation of loyalty benefits and unique benefit offerings within personal accident and sickness solutions
• creation of entry-level and apprentice personal accident and sickness policies for corporates and groups
• ease of fulfilment – removal of the requirements for medical underwriting
• benefit levels above industry standard, including up to 100% of salary plus superannuation benefit, up to $100,000 per month maximum benefit, flexible excess periods – waiting periods as short as 14 days, benefit periods of one to five years, loyalty benefits, and critical illness benefits with no waiting periods
Our focus is to provide a positive customer experience via:
• a sustainable product solution for your clients
• claims authority and expertise, using technology to improve communication and therefore the claimant’s experience
• trusted account and relationship management
Australia-wide
For your convenience, we have offices located in Sydney, Melbourne and Brisbane, whilst providing services Australia-wide and beyond. Contact us to find out more and to get an obligation-free quote on your portfolio.
PRODUCTS
• Accident and sickness
• Accidental death
• Broken bones
• Claims management services
• Contingency insurance
• Corporate health insurance • Dental
• Funeral cover
• Insurance consulting
• Journey insurance
• Member engagement solutions
• Tender management • Top-up workers’ compensation
• Total permanent disablement
• Trauma insurance
• Travel insurance
JASON POTTER-ROSE, GROUP CEO
JASON POTTER-ROSE was WIP Group’s first chairman. After managing and implementing the organisation’s strategic and compliance platforms, he was then appointed as the group CEO to head up the multi-tiered operations that exist within the organisation.
The ongoing pursuit of creativity, growth and service excellence are key drivers of the organisation. WIP is aggressively pursuing mutually beneficial relationships with brokers and clients and is investing in platform capabilities to best support partners’ growth aspirations. WIP Group ensures its technical team reviews every risk from different angles, and the organisation prides itself on providing pioneering solutions that benefit the client via sustainable pricing models and best-inclass policy and benefit platforms.
WIP Group believes the recent legislative changes to insurance within superannuation have triggered an increase in demand for insurance to be provided by EBAs or employee benefit programs. This is where WIP can assist the broker market in designing programs that will ensure value for money with bespoke coverage.
“We have had a longstanding relationship with our security partners and are proud to have local and international insurers to rely on,” Potter-Rose says. “We do this to ensure all opportunities are considered from a different risk lens. I urge the market to reach out to the WIP Group if you need a point of difference.”
What do you see as your most important feature as a company? WIP Group prides itself on innovation and creativity. When provided with a risk, we delve into the data provided and ensure we find an angle that will provide a point of difference for our brokers and clients. WIP Group often provides clients with reduced rates and increased benefit structures via our pursuit in ensuring that insurers do not fall into the trap of thinking that past results will repeat into the future. Relentless investigation of past claims and claims management principles will often highlight the true potential of the risk at hand.
Have you introduced any new products recently? WIP Group has developed a range of innovative new benefits over the past 12 months, along with commencing a rideshare A&H suite of products.
Does WIP Group have anything interesting in the pipeline? This year, our group will launch new products via an online platform for the broker market. We continue to look at growth opportunities via industries that were decimated due to the pandemic and will rebound over the next two to three years.
How did 2020 change the way WIP Group does business? WIP Group quickly embraced the situation at hand and sought that our security did not exclude COVID-19 pandemic-related conditions within any A&H claims. Once this was secured, we ensured our partners were aware so they could notify their members/employees. WIP Group did not miss a beat during the pandemic – and, in fact, become closer as a team and therefore were able to service current and prospective clients in a timely manner.
Is there an achievement you’re most proud of? We cannot split the fact that we are the only agency providing group income protection solutions to the industry superannuation market, or the fact that our innovative product won Best Insurance in Superannuation six years in a row.
What’s the ideal broker to work with? A broker who can provide all the information in the initial discovery session and is willing to allow WIP Group to also present innovative coverage/policy options. It is essential that the broker wants to win business and has a commercial and realistic mindset. It’s imperative that the broker has a strong understanding of their client’s specific requirements and the risk at hand.
Do you have any plans for broker engagement? WIP Group will be embarking on a national growth program via direct marketing and holding special events for brokers in each state during 2021.
How do you see technology changing the insurance industry, and how are you embracing it? If your agency is not embracing technology enhancements and or at least undertaking reviews of such, the future of the agency may be limited. Whilst there will always be a place for face-to-face business practices, we must embrace the technological age and ensure that brokers can interact with you at a time that suits their schedule, and therefore we should be accessible 24/7. WIP is trialling a platform that should be operational by May/June 2021.
If you could change one thing about underwriting or insurance, what would it be? We need to build a pipeline to our industry via the educational pathways. Insurance should be a considered career option and not an afterthought.
