New Insurer to fill gaps in the market

Ivory is a new innovative Australian owned insurer, to provide capacity for Australian underwriting agencies in the areas of PI, IT and general liability.

BRISBANE, QUEENSLAND, AUSTRALIA, December 4, 2023 /EINPresswire.com/ -- Ivory Insurance Pty Ltd (‘Ivory’) is delighted to announce today that it has received authorisation from the Australian Prudential Regulation Authority (APRA) to commence underwriting, effective immediately.
Ivory is a new innovative Australian owned insurer, which will provide capacity and expertise for Australian underwriting agencies in the areas of professional indemnity, IT liability and general liability insurance for small to medium sized businesses.
Focused on overcoming the prominent market issues of unaffordable and unavailable insurance, Ivory will be built on a strong foundation, with its first agency book being that of Woodina, which is well established as a leading market in the Australian SME PI sector.
Utilising long standing London reinsurance contacts, Ivory offers its underwriting agency partners, and their customers, strong, long term underwriting support, and protection, and applies an award winning claim management model, built on more efficient funding of legal services.
The claims model focuses on expeditious resolution of claims and, in particular the vigorous defence of unmeritorious claims. This has been shown to lead to very favourable claim outcomes for insureds, whose strong reputations and claim records are fundamental to the claims model.
CEO of Ivory, Scott Lawrence, states we are linking with an award winning law firm, so that our underwriting agency partners' clients receive the support they need when claims are made.
Mr Lawrence continued, "At Ivory, we aim to build strong, mutually beneficial relationships with our underwriting agency partners by understanding their needs and aligning our goals with theirs. Our capacity allows our partners to grow their businesses through an insurance model designed to improve customer experience and retention and, at the same time, reward our partners through a fair and equitable commission structure.”
Focusing on the Australian market, Ivory is looking forward to building upon its initial partnership with Woodina and welcomes the opportunity to support other underwriting agencies.

For more information, please contact Scott Lawrence, M 0423 287 827 or visit https://www.ivoryinsurance.com.au

Scott Lawrence
Ivory Insurance
+61423287827 ext.
email us here