Veracity - August 2018 edition
- Message from Anthony
- The latest enhancements to VeroEdge
- Equipment Breakdown insurance – the potential to grow your business
- Metcash thrives after devastating hailstorm
- SME Insurance Index – Broker Survey
- YourView Survey update
- Have you accessed OneTouch claims yet?
- Meeting your privacy obligations - helping you manage personal information
- RM Insight article - wet weather driving
Welcome to our August edition of Veracity - an issue packed with achievements worth celebrating.
Firstly, congratulations to all the state finalists of the 2018 NIBA Young Professional Broker of the Year. We had an amazing display of talent this year and are thrilled with the choice of state winners selected. Later this month we’ll welcome our finalists to Suncorp Sydney for a two-day professional development workshop and judging in the national Warren Tickle Memorial Award announced at the NIBA Convention in September. Our state finalists are:
- VIC/TAS – Leigh Moulden of Doreen Insurance Solutions
- NSW – Craig Anderson of Austbrokers ABS
- QLD– Steven Purser of PSC Gordon Wilson Insurance Brokers
- SA/NT – Daniel Webber of Webber Insurances Services
- WA – Marcus Pallotta of Marsh
I’d also like to congratulate our very own Carla Taylor, Business Development Manager NSW/ ACT, listed in the Insurance Business 2018 Young Gun Report. Carla joined the Suncorp family just over 12 months ago managing our Canberra and NSW South Coast regions. In this short time, she has created fantastic relationships with her panel of brokers and always looks to create solutions for her customers. Well done Carla!
SME Insurance Index Survey
Every year we look at ways to improve the SME Insurance Index Report and our broker partners play an important role. Your feedback helps us to keep it fresh, engaging, informative and most importantly, useful for you and your clients.
At Vero, we’re focused on making it easier for you to do business with us. We want to reduce inefficiencies and help you streamline your business.
Now we have made further improvements to VeroEdge, allowing you to offer your SME customers an even better service.
You will find the following changes across SME Packages and Workers Compensation when you log on to VeroEdge.
- Occupation searches now include cover eligibility
- Improvements to the left-hand menu allow for easier navigation
- When the transaction has a referral or decline, the message automatically links to the applicable field of cover
- The policy details status is now visually enhanced
- You will receive an auto-generated email confirmation when a referral is submitted
We invite you to provide feedback to your local Vero representative about the latest enhancements to the VeroEdge platform.
Vero Equipment Breakdown insurance can protect your clients’ business against the costs of unforeseen breakdowns, as well as income protection for today’s equipment-intensive retail store.
The potential for growth in this insurance category is enormous.
We have developed a retail occupancy fact sheet that explains our core position in a simple double-sided flyer containing equipment examples, the different types of cover and real losses incurred in a retail store.
There are also four new loss bulletins to help you in your dialogue with clients, to educate them on what the exposures are and the risks of not having adequate Equipment Breakdown cover.
You can rely on Vero for the broadest Equipment Breakdown insurance.
Support tools to make it easier to sell
- Retail Occupancy Flyer
- Loss Bulletin - Butcher Sausage Machine
- Loss Bulletin - Café Loose Connection
- Loss Bulletin - Real Estate Agent Electronics
- Loss Bulletin - Supermarket Alarm Failure Spoilage
Want to find out more?
If you would like more information about Equipment Breakdown insurance, please contact your local Vero representative.
In 2015, the Metcash Distribution Centre at Huntingwood in Western Sydney suffered a dramatic hailstorm. The damage to the warehouse was so extensive, this huge distribution centre could no longer operate. This triggered Metcash’s Business Continuity Plan.
Working with Vero’s team of Risk Engineering experts, multiple recommendations were made to Metcash on improving goods storage, handling and safety. This huge distribution centre today ships over 12,500 pallets worth around $50 million a week to outlets all over NSW.
Nominations are open for RM Advancer 2018
This year’s awards program will showcase the risk management achievements of Vero and GIO Workers Compensation, brokers, and clients.
There are four awards available, including two commercial categories (large and SME) and two personal injury and liability categories (large and SME).
If you have a client that has a great risk management story, Vero would like to help tell it on the big stage. We encourage you to work with your clients to share their story and submit a nomination form.
As well as the accolades of professionals, peers and the media, each winner will receive 200,000 Virgin Velocity points*.
31 August 2018
6 September 2018
25 October 2018
26 October 2018
Award recipients communicated
Want to find out more?
For more information contact your local Vero representative or visit RM Advancer 2018.
*Prize is subject to availability. Terms & conditions apply. Please visit RM Advancer 2018 website for more details.
Every year we look at ways to improve the Vero SME Insurance Index for future editions. So, we would appreciate your feedback and assistance to continue to keep the Index fresh, engaging, informative and most importantly, useful for your business and your clients.
The survey will be open from the 10 – 15 August 2018.
We value your time and sincerely thank you for completing this questionnaire.
Your feedback will help us to enhance and improve the Vero SME Insurance Index to help you keep informed of the changing market needs and how to adapt to help ensure continued business success.
In our recent YourView Survey, brokers have told Vero that it needs to improve turnaround times and communication.
We’ve listened and acted to better support brokers across claims and underwriting.
Claims has been implementing programs over the last 12 months to speed claims payment for one touch and non-assessed claims. Technology has increased access to claims workflow, enabling faster communication of claims progress updates.
Underwriting has introduced initiatives to reduce referral turnaround times. A broker call team now facilitates some tasks and transfers complex tasks to senior underwriters. Automated systems have been updated to improve processing efficiency for brokers. Measures now show a considerable reduction in turnaround times.
Vero thanks those brokers who provided feedback, including Ian Burke of Milne Alexander, NSW, who was the lucky winner of a $500 Visa gift card.
Vero is committed to acting on your feedback. Our survey is changing to make it easier for you to provide feedback and for Vero to implement change. We will only ask you to participate in our short survey twice a year. We’ll provide more information in the coming months.
OneTouch claims are lodged, paid and finalised at the very first touch point between the broker and Vero. This now means that SME and Property claims up to $10,000 can be processed in as little as 15 minutes and less than a day overall.
What we need from you
All we require when lodging your claim is the complete information outlined in the OneTouch information flyer; including EFT details - Lodgement is easy!
- Simply call 1300 888 073 to lodge your claim over the phone
- Complete the OneTouch claim form, attach supporting documents and email: firstname.lastname@example.org.
For more information
Now you have Vero’s OneTouch claims working for you.
Did you know that new mandatory data breach reporting requirements came into effect on 22 February 2018? These apply to how Suncorp, and you as our partner, deal with personal information.
In the course of your business relationship with us, you deal with personal information about individuals we may provide to you or which you may access, collect, hold, use or disclose, directly or indirectly, in order to perform your contractual obligations (‘Personal Information’).
Suncorp takes our customers’ data and privacy very seriously. We already take significant measures across all of our operations (including with partners) to make sure information is protected and that any incidents are promptly assessed and appropriate actions are taken.
So what happens when a data breach occurs?
If a data breach occurs that is likely to result in serious harm to affected individuals, it is now mandatory under the legislative changes to:
- promptly notify affected individuals of the breach
- provide recommendations to them about the steps they should take in response to the breach (in order to reduce the likelihood of harm occurring)
- notify the Office of the Australian Information Commissioner (OAIC) about the breach.
What is a data breach?
A data breach occurs where Personal Information, held by an organisation is lost or subjected to unauthorised access or disclosure.
In instances where multiple entities jointly hold information compromised in a data breach, only one of those entities needs to undertake the assessment and notification requirements.
So how can we work together to assess, manage and report relevant breaches?
If you become aware of an actual or suspected data breach with the Suncorp data that you hold, you must immediately report this to us. We will then work with you to investigate the matter, determine whether a breach has occurred, and whether the matter is required to be reported.
If we believe a breach has occurred that needs to be reported (known as an eligible data breach), Suncorp will work with you to contact affected customers and the OAIC. This is in line with the Privacy Commissioner’s suggestion that the entity with the most direct relationship with the individuals at risk of serious harm may be best placed to carry out the notification.
We will work with you to ensure impact to affected individuals and to our businesses are reduced. You should however, bear in mind your own compliance requirements in respect of these new obligations and seek your own advice.
We thank you for your co-operation. Should you have any questions please do not hesitate to contact your BDM in the first instance. If you have a potential breach to report, we’ll put you in touch with the Suncorp Risk and Compliance team to support you through the process.
This month’s RM Insight article considers the dangers of wet weather driving and has wide appeal, not only to motor fleet operators, but to anyone who drives a motor vehicle.