Our specialist model

Vero's specialist insurance model, introduced in 2000, was the first of its kind for an Australian intermediated general insurance company.

In a market where the majority of large insurers have adopted a scale strategy and generalist approach, Vero stands out from its competitors. The Vero Strategy can be summarised as 'Specialist Insurance with a Big Advantage'.

Vero's specialist approach enables us to tailor our products to suit the needs of our customers. Our expertise combined with the size and backing from Suncorp enables Vero to be a powerful organisation in today’s competitive insurance market. The main factors that determine our success include:

Expertise – apply our specialist underwriting expertise to gain deeper customer insights and provide insurance solutions
Product Offering – high quality products that suit the client, offering a range of coverage at a value-for-money price
Intermediary relationships – high quality service and processes, showing support of the intermediary network and partnering with them for mutual success
Level of differentiation – the degree to which Vero is seen as different to our competitors rather than one of the crowd
Internal efficiencies – having efficient and seamless processes

Vero has actively identified ways to improve our products, services and relationships with all of our customers, developing and implementing new business units and innovative products to meet and exceed these expectations.

Vero recognises innovation as a key initiative to achieve our long-term goals and objectives. In early 2006 Vero commissioned a leading innovation consulting firm to transfer 'best practice' to key personnel. Key objectives are to generate, shape and refine ideas, develop processes, improve execution and pass these skills to all staff.

To deliver our innovation we introduced a Strategy and New Business team with mergers and acquisitions, strategy and implementation specialists. The establishment of a New Product Development team was another step toward innovative and differentiated products.

Vero's industry leadership is determined through its approach to the insurance cycle. The challenge for now and in the future is to maintain profitability in the down cycle and produce stable and profitable returns throughout the cycle.

In the Australian market, Vero's combination of specialisation and the security of being a subsidiary of Suncorp provide compelling advantages to our intermediaries and end-customers.