Xenturion makes exclusive tailored broker propositions a reality

Daniel Kruger, Director of Underwriting and Sales at Xenturion.

New GENRIC UMA’s primary focus is to service brokers.

Brokers and their specific client needs are the focus of new underwriting management agency (UMA) Xenturion Underwriting Managing Services.

The brand new UMA exclusively offers brokers the service to customise their insurance portfolios according to their and their clients’ very specific needs, underwritten by an A- rated short-term insurer, GENRIC Insurance Company.

“We cater exclusively for our brokers’ preferences and bring a unique offering whereby we mould your business around your specific needs,” says Daniel Kruger, Director of Underwriting and Sales at Xenturion. “We craft the policies specifically to the needs of the broker’s client base. So, we’re open to various propositions because we believe each broker and client base is different.”

Xenturion focuses primarily on the small- and medium-sized brokers, since these are the brokers who are most frustrated by the blanket treatment approach that is all too common in the insurance industry.

Listen, don’t dictate

“Our approach is that we listen to our brokers, their wants and needs, and we don’t dictate,” Kruger explains. “We sit down and discuss extensively what the broker needs, what his client profile is like, specific challenges or issues that are not supposed to be given a blanket treatment. And then we customise our policies to suit these very specific broker and client profiles. We customise the broker’s portfolio and offerings.”

He added: “We believe this is part of what the FSB is trying to achieve with the Treating Customers Fairly campaign.”

The insurance industry’s standard approach towards brokers and clients, says Kruger, is that policies and processes are designed to give a one-size-fits-all solution to every single broker and his or her clients.

“That just doesn’t ring true because how is it possible for each broker to have identical clients with identical risks and identical risk appetites and identical combinations of assets? How can one single solution encompass all of that?” he asks.

Xenturion can offer bespoke insurance solutions that cater for unique and divergent portfolios.

Relationships

Xenturion is backed by highly skilled individuals. Kruger himself has vast experience of close to two decades in various positions at large multinational insurance companies. In his career he has seen time and again how pivotal relationships are to brokers, but also to the insurance industry at large.

“It’s very simple. We’re going back to old-school style relationships and asking the brokers what they need because they are client facing,” Kruger adds.

Therefore Xenturion is the place to come to for a personalised broker solution, where brokers would deal with one contact person who is also the decision maker.

Deep impact

Xenturion’s approach to its brokers will have a deep impact on the insurance landscape, believes Cornel Schoeman, Chief Commercial Officer at GENRIC.

“For GENRIC, Xenturion has the right ingredients to be extremely successful,” Schoeman says. “It has the right expertise, culture, philosophy and vision. We know they will make a huge impact on the market.”

GENRIC bought a strategic stake in Xenturion, illustrating how strongly the niche insurer believes in the UMA’s business model.

For Xenturion, partnering with GENRIC was a logical outcome, says Kruger.

“There is great empowerment in GENRIC as a business,” he explains. “Top management is available and it is a pleasure to deal with them. GENRIC also harnesses a culture where relationships matter. It is an insurance company that definitely does things differently from everyone else out there, but is highly professional and compliant.”