Hollard enters NZ market - partners with Ando Insurance
02 February 2016
In partnership with the underwriting agency, Ando Insurance, The Hollard Insurance Company will shortly launch in New Zealand. It comes off the back of Hollard Australia receiving a New Zealand insurance licence and an A- rating by ratings agency, AM Best.
Said Hollard CEO Richard Enthoven: “New Zealand is a market in which we have had an interest for some time. For us it was about finding the right people and entrepreneurial culture to help build a business in what is a competitive market. In Ando we have found a highly respected and experienced team with strong relationships in that market.”
Ando will provide general insurance products to the market, offering an alternative solution for brokers. It aims to challenge the traditional insurance company model by using customer-centric technology and smart processes to offer better choices to consumers.
Ando was founded in 2015 by ex-Lumley CEO, John Lyon and COO Dean Edwards. Hollard is a shareholder and will act as underwriting partner to Ando.
“We like the fact that Ando is a partnership predominantly owned by the management team,” said Mr Enthoven.
“Hollard has built a track record of backing individuals into their own insurance businesses with start-up capital and underwriting support. Typically these entrepreneurs have a niche product or distribution opportunity. The team at Ando fit this criteria along with some innovative solutions to bring to market.
“Furthermore, Ando doesn’t carry any legacy baggage or systems. As a result they are agile and well placed to take advantage of emerging trends in the industry and disrupt the traditional insurance value chain as well as explore new distribution channels,” said Mr Enthoven.
Hollard has been APRA licenced and regulated since 2000. Over that time it has built a niche insurance business which in recent years has grown rapidly.
Hollard’s direct insurance business Real, supports a number of Australia’s blue chip brands as the underlying insurer and distributes niche product through insurance brokers and underwriting agencies.
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