QBE restructure aims to smooth broker links

QBE’s restructuring of its European division will make the insurer more transparent and easier for brokers to work with, according to UK and Ireland managing director Matthew Crane.

Speaking to Insurance Times, Crane said the restructuring will clarify how brokers gain access to QBE’s products.

“It’s absolutely key that we understand how brokers want to trade with us, that we project ourselves in the right way, so they understand our propositions, and that we can get a real alignment of interest,” Crane said.

“That is absolutely at the forefront of our mind when doing these restructures. We’ve made it a lot more transparent in terms of the products and where they sit, and [brokers] will know where to access [them].”

Staff development

It is also hoped the changes will promote QBE staff development, which will give brokers easier access to decision-makers and help business development.

“We are trying to structure the business so people have more opportunity, get more experience and more authority, and, off the back of that, the business itself,” Crane said.

“It’s about getting our decision-makers in front of the brokers’ decision-makers. We have a model that empowers underwriters and they are there to make decisions with the brokers. It should [make business] a lot easier.”

Impact on all markets

Crane expects the benefits of the restructuring to be felt across all the markets in which QBE operates, allowing the insurer to capitalise on favourable conditions when the time comes.

Crane said: “There’s not really one product that is having an easy time [at the moment]. Bringing things together so we can leverage off all our expertise should enable us to be more effective in a marketplace that is challenging.

“It also sets us up for success when the market does move. Operationally we will be positioned correctly and hopefully have an effective model that means we can launch ourselves when the real opportunity comes.”