Bespoke risk portal sets UANZ apart at 2023 insurance awards

Underwriting Agencies of New Zealand (UANZ) has distinguished itself as a leader in the insurance industry, securing the title of Underwriting Agency of the Year in the 2023 New Zealand Insurance Industry Awards.

This accolade underscores UANZ's commitment to innovative risk management, staff development and diversity and inclusion.

A tremendous honour

The judges found a bespoke portal for tracking and analysing risk incidents, coupled with a comprehensive learning platform, enhanced both UANZ ‘s operational efficiency and employee growth.

They also noted several of the underwriter’s initiatives extended beyond risk management, reflecting a deep commitment to mental health support and community engagement. 

Marc Crossman, Executive General Manager — Distribution Strategy, UAA Group, describes winning the award as a tremendous honour for the business and a validation of their efforts in the New Zealand insurance industry. 

“The recognition boosted staff morale, instilling a sense of pride and accomplishment amongst our team,” he says. “It also reinforced our reputation in the market, strengthening client trust and confidence in our services.” 

Power through a bespoke risk portal

Part of UAA Group’s global network, UANZ was launched in 2014 and its tailored products are specifically for the mobile plant and machinery sector.

The company takes an innovative approach to risk with a bespoke risk portal that serves as an internal tool for tracking of risk incidents, timely reporting, and meaningful analysis. 

“Our clients in the mobile plant and machinery sector face several significant risks,” says Crossman. “This includes operational hazards, equipment failure, and environmental risks, such as natural disasters and extreme weather conditions. 

“Substantial threats also exist, not only by the machinery being used, but also the brand reputation being damaged at the time of a loss.”

In addition to managing those risks, the portal is designed to enhance staff development around underwriting and claims management quality, Crossman explains. 

“It streamlines the tracking of risk incidents, ensuring timely reporting and facilitating comprehensive analysis. Staff can log incidents directly into the portal, which generates detailed reports and analytics.

"The system also allows for real-time monitoring of risks, helping staff identify patterns and address potential issues promptly.”

Peer review system

The inclusion of a peer review system within the portal adds additional room for auditing, ensuring that reported incidents are reviewed and validated by multiple experts, says Crossman. 

“This process enhances the accuracy of the data and fosters a collaborative approach to risk management, ultimately leading to more effective risk mitigation strategies and continuous improvement in underwriting and claims management practices.”  

A focus on staff mental health and wellbeing, easily accessible learning and development opportunities and proactive measures to employ a diverse range of people have contributed to UANZ’s recognition as a leader in the industry. 

As part of the 2023 New Zealand Insurance Industry Awards, UANZ was recognised for the introduction of SAP Litmos, an interactive platform to help track and accelerate employees’ learning journeys. 

Staff can access fully funded studies at ANZIIF and higher education opportunities both locally and overseas. In addition, an ongoing collaboration with the Mental Health Movement (MHM) allows UANZ to provide staff with mental health awareness, education, and training.

Mental health and wellbeing

UANZ's collaboration with the Mental Health Movement (MHM), as a part of broader initiative undertaken across the UAA Group, demonstrates the organisation's commitment to the well-being of our employees. 

“Importantly, providing mental health awareness, education, and training, aims to create a supportive and understanding work environment," Crossman says.

"This initiative helps reduce stigma around mental health issues, encourages open communication, and ensures that employees feel valued and supported." 

As a result, staff engagement has improved significantly, with employees feeling more connected to the company and motivated to contribute to its success.

Crossman says this positive work environment enhances overall productivity and job satisfaction. 

The effectiveness of these initiatives is reflected in staff retention and engagement figures above 90 per cent and a turnover of below 10 per cent. 

UANZ is also proactive in the broader industry community, supporting industrial health and safety in New Zealand by investing in the crane industry.

"UAA Group is also committed to supporting the wider community, as evidenced by its sponsorship of local sporting teams, and commitment to the development of Indigenous talent through partnership with RASi."

Putting people first

Last year's award also recognised UANZ’s key people initiatives, which demonstrate best-practice commitment to diversity and inclusion.

Initiatives include flexible working conditions for all employees, group insurance for eligible staff, and gender-neutral paid parental leave for up to 12 weeks. 

Diversity is crucial to the business, says Crossman. Not only does it bring a variety of perspectives and ideas, but it also fosters a culture of innovation and an increased ability to solve problems.   

“We believe that a diverse workforce better reflects the communities we serve and enhances our ability to meet the needs of our clients,” he says.

“We also make a point of hiring primarily entry-level positions, to bring in individuals with diverse backgrounds and no prior insurance experience.”

New team members are supported through a comprehensive training process, which is managed through SAP Litmos, which provides modules on various topics, including insurance fundamentals, risk management, and soft skills. 

“This approach not only equips our employees with the necessary skills but also helps address the industry's skills shortage by nurturing talent from diverse backgrounds and providing them with the tools to succeed in the insurance sector,” Crossman says.

Data collection spurs improvements

These initiatives are all supported by data collected over five years, with net promoter scores (NPS) showing an impressive upward trajectory. 

By staying ahead of industry developments and prioritising the wellbeing of its staff, UANZ aims to maintain its position as a top underwriting agency and an employer of choice in the insurance industry. 

“We address unique industry needs with comprehensive coverage options that competitors often fail to match — and we actively participate in sharing our knowledge with our broker partners to develop their own understanding of the diverse range of risks inherent to the industry,” says Crossman. 

“The award has motivated us to continue striving for innovation and excellence, ensuring that we remain leaders in our field.”

Image:  The UANZ Team accept their award at last year's ANZIIF New Zealand Insurance Awards (from left) Chloe Adams, Matthew Zeigler, Briony Tempest and Andrew McFetridge. 

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