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Camargue turns 10 and launches Broker Training Academy

  John Stebbing

  Underwriter

  Camargue Underwriting Managers
 

QUOTE: “The Broker Training Academy shows brokers how to use niche liability products in order to expand their market share.”

Many start up businesses do not survive their first three to five years. This is not the case for Camargue Underwriting Managers, a provider of niche insurance products and underwriting solutions to a broad spectrum of industries in South Africa, which this year celebrates more than 10 successful years in business.  Overcoming industry challenges, global financial pressures and the typical obstacles synonymous with starting a new business, Camargue has demonstrated its ability to be flexible while anticipating the needs of its stakeholders, and responding with relevant solutions.

It’s not surprising therefore that Camargue has been awarded an A+ Global Rating, proving that the hard work of the past decade has not gone unrewarded. This dynamic, truly South African company has been awarded industry honours and support from renowned companies, such as Lloyd’s of London, Brit Insurance and Mutual and Federal. With such accomplishments firmly under its belt, Camargue anticipates an equally if not more prosperous future.

Constantly innovating and finding ways to meet market demands, Camargue will celebrate 2011 with the roll-out of a number of activities fitting of a 10^th birthday, each of which are milestones in the making for this relatively young company. A major highlight is the group’s relocation to new premises, Camargue House, which will bring the rapidly expanding team under one roof. Additionally, and most excitingly, 2011 will see the much anticipated launch of Camargue’s new Broker Liability Academy.  As if that were not enough, the group will also bring to market new tailor-made SME product solutions.

Broker Liability Academy Goes Live

Over time, insurance has become an increasingly complex service and it is almost impossible for a broker to build and maintain a competence in every area of commercial insurance. This problem is particularly evident in specialist areas such as liability insurance – which is grossly undersold in the South African Market. The challenge here is that most insurance operations, including brokerages, lack the skills to adequately address these specialist areas.

Until now, brokerages have to some extent, been able to avoid the problem by simply restricting their advice to that which they are familiar with. However, as customers become better informed, the South African business environment is becoming increasingly litigious, and this strategy is growing less reliable. With all the emphasis being placed on new legislation, such as the new Companies Act, it is expected that clients will increasingly ask about specialist liability cover such as Directors’ and Officers’ liability insurance. Being able to provide specialist advice will therefore become a necessity for both business retention and the exploitation of growth opportunities. The question that begs answering is therefore how should brokers acquire (and retain) these specialist skills in a time and cost effective manner?

While various training Seminars providing information on liability insurance are available to the market, brokers, who as a rule have limited time, need quick and painless solutions. Ideally they need an offering that empowers them to start selling a new product without having to make considerable investments of time and money in up skilling themselves.  Recognising this and in direct response to the growing needs of the insurance industry, Camargue was prompted to set up the Broker Liability Academy.

Essentially, the purpose of the new Academy is to quickly and effortlessly build the broker’s skill level, enabling them to sell new product solutions. With the launch of the academy, brokers will be able to increase the size of their existing product portfolios – creating opportunities for them to sell more business thereby increasing their market share!

“The rationale behind the launch of the academy is to make specialist liability insurance accessible to all brokers and to provide them with training that offers insight into what cover is provided by the product, what the exclusions are and how to sell the product to the client,” says Camargue Underwriter, John Stebbing.

To facilitate this process, the Camargue Broker Liability Academy will initially host weekly training seminars, free of charge, with an initial focus on the following products:

• CGL – the Commercial General Liability course covers solutions protecting the business against liability such as: injuring a visitor or damaging a client’s property. The course will also highlight the difference between Multimark liability and Broadform Liability and how to limit the insured’s exposure to the new Consumer Protection Act.
• CPA – this course will explore the finer details of the new Consumer Protection Act and what companies need to be aware of in order to comply with it.
• D&O – the Director’s and Officers’ course is aimed at protecting the managers and directors of a business when they are sued for mismanagement.
• EPL – the Employment Practices Liability course shows how to use this policy to protect the insured against CCMA awards.
• CCC – like Fidelity Guarantee, the Camargue Commercial Crime policy covers the company against an employee’s dishonest acts, and the course will explore how CCC provides significantly better cover than an ordinary FG policy.

Short seminars on other products such as medical malpractice and professional indemnity will soon also be available

The training will be hosted at Camargue’s offices and at various M&F offices around the country. Presented by Camargue’s product experts, seminars are meant to be convenient and therefore they may also be hosted at a broker’s office if there are suitable numbers to warrant this.

Sessions will be product specific and depending on the actual content, they may last between one and two and half hours. “The aim is to try and impact as little as possible on a broker’s busy schedule,” says Stebbing. “Following all sessions, additional online and telephonic support will be available to brokers as a back up to support them with any questions that may arise. We are confident that with even basic training, and secure in the knowledge that they have Camargue support, brokers will begin to sell liability products more readily.”

Aimed at giving brokers the opportunity to enhance the expertise of their staff, Camargue's Broker Liability Academy is significantly nurturing the growing pool of talent in the country. It also ensures that clients receive impeccable service from brokers who, after training at the academy, thoroughly understand and can better consult about the risks their clients face.

For more information about Camargue’s seminars, including dates and venues please visit www.camargueum.co.za/academy. Alternatively, contact John Stebbing at: john@camargueum.co.za

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