Underinsurance platform teams with CGU to offer adviser revenue

Thursday, 14 August 2008 18:00

Saropa Pty Ltd today announced its next-generation Saropa online solution. The online solution enables financial advisers to offer clients a personal disaster recovery and underinsurance assessment service.  Additionally, as a result of Saropa’s relationship with CGU Insurance, advisers are able to earn fee income on any CGU policy sold via the solution.

According to Saropa co-founder Rob Corben, Saropa allows advisers to share in the 14 billion dollar annual general and commercial insurance market for minimal effort and no large capital outlay.

‘With market fluctuations unsettling some investors, Saropa provides advisers with an additional - and positive - benefit for clients,’ said Corben. ‘Saropa strengthens client relationships by offering a possessions tracking and disaster recovery service under the adviser’s brand - effectively increasing client switching barriers,’ said Corben.

‘Additionally, the integrated CGU quoting system can provide referral fee income to the adviser. We envisage an adviser with 200 clients or more can potentially achieve a ROI in a matter of months - all for an annual cost that is less than attending a two-day conference!’ stated Corben.

The Saropa solution is available now as a hosted service with registration by phone, fax or email. Advisers pay a low annual fee and can be live just 24 hours after registration.

‘Underinsurance is a big problem in Australia and unfortunately many people don’t realise this until it’s too late,’ Cameron Watson, National Manager Affinity Groups at CGU Insurance said.

‘We recognise the significant role that customer education and raising awareness of the risks can play in combating the problem. Reducing the risk of underinsurance by tracking the value of assets against policy value will help ease this problem and the potential anguish should you need to make a claim on your policy.’

‘It’s vitally important for everyone to check their level of insurance every year and consider the impact that purchases have on their insurance – without this regular insurance health check, you will soon find that your insurance policy does not cover your assets,’ he said.

The Saropa solution visually displays underinsurance alerts so insurance policies can be adjusted proactively to combat underinsurance.

Further information and solution demonstrations are available online at www.saropa.com.au

ENDS

About the Saropa solutionLaunched in January 2008, the next-generation Saropa solution can help protect what’s precious to Australians - be it possessions, personally significant photos, house, car, property or important documents. It provides a secure, remote repository for vital personal data if a disaster occurs, enabling the retrieval of information such as insurance policy details, detailed contents listing and vital documents. It can also help to identify underinsurance situations and alert users so a course of action can be taken prior to any claim situation.


About Saropa Pty LtdSaropa Pty Ltd is an Australian technology company established in 2007. With a strong background in financial services and technology, Saropa uses modern web technologies to provide easy, no effort revenue streams for clients while also assisting Australians to avoid underinsurance and recover more easily after a disaster.


About CGU InsuranceCGU Insurance is one of Australia’s leading commercial insurers and distributes its products through business partners and intermediaries.
CGU insures over 1 million homes and 500,000 motor vehicles and is the country's largest regional and rural insurer and Australia’s largest workers’ compensation provider. It has an ‘AA-’ financial strength rating (stable outlook) from ratings agency Standard & Poor’s. CGU forms part of Insurance Australia Group (IAG). Duncan West is the Chief Executive Officer of CGU.