We would like to announce to all our Clients, Prospective Clients, Suppliers and Insurers, that Cooper Professional Risks Pty Ltd trading as CPR Insurance Services, will be leaving National Adviser Services Pty Ltd (NAS) and joining Ausure Pty Ltd as a Corporate Authorised Representative from 5 March 2018.
Fundamentally, there is no difference to you except our Invoices will look a little different, and the Banking details will be in a different name and account number. Everything else at CPR stays the same.
There are a number of reasons we have made this decision, but the primary reason is for what we believe is best for our clients.
Being a Corporate Authorised Representative of a large Broker Group gives us the maximum opportunity to access as many Insurance markets as possible to provide the best risk solutions for our clients. In this arrangement, we also effectively outsource our Compliance obligations, Accounting Services and IT Broking Systems to another Broker who specialise in this area. We can then focus on just being Insurance Brokers.
We had been with NAS for more than seven years, but like any business, they have undergone many changes after merging with another group more than 18 months ago. NAS are fully owned by IAG, the largest Insurance Group in Australia who own other brands such as NRMA Insurance, CGU Insurance and IAL. We have over time, felt that these changes were not in the best interests of our clients to provide the best and most efficient insurance service for them
Who are Ausure? They began in 1996 in Newcastle, and in more recent years, have moved their Head Office to Brisbane. This we see as a big local advantage.
Ausure Pty Ltd are majority owned by the Steadfast Group, who are a cluster group of more than 360 Brokerages generating more than $6.5 Billion in revenue (as at Financial Year 2017). It is an ASX 200 Listed company, a market leader in our Industry and an innovator in Insurance Broking. Steadfast exists to drive an insurance broker network that provides unique professional services and advice to its clients.
A Financial Services Licence Holder not being owned by any particular Insurance Company, was also big attraction to us.
Further, Steadfast have invested heavily in superior IT Broking systems software that will be more reliable and will drive greater efficiency for CPR Insurance Services. As Brokers, we are very dependent on responsive modern Broking systems and processes to meet the growing needs of our clients.
We have found the strength of being part of the Steadfast Group important in arranging broader covers for our clients. They are an important technical resource to maintain our expertise. More importantly, they back us up when it comes to making sure the legitimate claims of our clients are correctly settled.
We also chose Ausure because they are very much aligned with our philosophy of providing a highly professional service to our clients. They are also a family business in culture and approach, appreciating that they are a fundamental part of everything we do for our clients. The scale of Ausure brings plenty of benefits for our clients. At the size it is now, Ausure has the strength to assist us to negotiate terms that are advantageous to our clients.
We do thank NAS for the past seven years of support and wish them all the best. We are now looking forward to our partnership with Ausure and maintaining our Customer Service focus for all our clients going forward.