We get Multinational. We’ve been partnering with businesses who need protection for their global risks for over a decade now, so it’s not new to us. Whether it’s for core solutions like Property and Casualty, or for more specific risks like Marine and Accident & Health (A&H), we’ve been investing in our proposition to be able to provide you with the cover you need, when you need it.
In this video, we sat down with Ian Rose - Underwriting Manager for Marine, and Luke Powis - Head of Crisis Management, to explore the complexities of writing programmes for specialist risks like Marine and A&H.
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Transcript for video Writing Multinational programmes: Specialty Lines
Multinational isn’t new to us
Ian Rose: Aviva's wrote Property and Casualty Multinational for well over a decade now. With a large historic proven book of business, we're now utilizing that network into our specialty divisions, namely Marine and A&H Business.
The complexities of Specialty Lines programmes
Marine
Ian Rose: Marine is quite a complex class depending on what kind of cover we're looking for. Transit, for instance, it's about contractual relationships between the parties and how this is placed locally in the market. There could also be a requirement for static stock cover, which would potentially be treated as a property cover in the local legislation, rather than marine placing, and also marine liabilities as well, which is based on global conventions.
Accident & Health (A&H)
Luke Powis: There are lots of nuances around accident and health, at the end of the day we're insuring the people so sometimes we need to get information, typically called a census, and that might be detailed with the names, the age, and also the wage of individuals. For the travel patterns, we'll also need to know that granular detail on where they're going to. That's quite a lot of extra work and a lot of administration.
Working together
Luke Powis: Multinational is very complex and there's a huge amount of stakeholders involved from ourselves internally through to the broker both as the master broker, as the local broker, and also the insurer, and then the client as well. Potentially you've got seven/eight different stakeholders for just one local policy.
Ian Rose: Early adoption is key for us. The policies themselves are large and complex and time-consuming. As much running time as we can have as possible, working with all stakeholders, is key for us. Second element is collaboration. Collaboration between the underwriter, the client, the broking relationship, and also the multinational team themselves.
Luke Powis: That's why it's important we work as a team to ensure the customer has the right benefits and everyone has a great experience placing a local policy.
We're always listening to what you need. Want to talk about how we can help your business go further? Get in touch with your Broker Development Manager or Underwriter today. For more information about Multinational offering, please visit https://at.aviva.uk/Multinational
Expanded ambition
In recent years, we've been laying the foundations to support our Lead Multinational ambition. This includes reinforcing our network to make sure we have partners in key territories to write expanding lines of business and reengineering ways of working to deliver you the best service.
To support this, we’ve been investing to bolster our proposition, expand our capacity and strengthen an already experienced team and this was complemented by the recent announcement of our new Global Service Proposition to support businesses around the world. You can find out more here.