By now many of you would have read the announcement from QBE last week which outlined plans for the migration of their SME Construction and Engineering products to 360’s online underwriting platform.
The goal was to provide a fast and efficient way for brokers to access these products while still being able to utilise QBE’s underwriting team for complex and large business.
Brokers will be able to access the complete suite of QBE’s construction and engineering products including annual, single and owner builder construction along with the machinery and electronic equipment policies.
The announcement was another milestone day for the team at 360 with the partnership with QBE reflecting the capability we have developed in the SME segment of this market.
An excerpt from the QBE announcement from Dale Gleeson, the National Manager Construction and Engineering, follows ;
Questions & Answers
How do I access the new platform?
You can access Compass via the 360 website, 360uw.co.nz by clicking “LOGIN” at the top of the page. New users can request access by emailing construction@360uw.com.au.
Any existing QBE renewals with an expiry date after 1 September 2020 will be available to manage their policies via the 360 Compass from 1 August 2020.
What business does this affect?
The following business will be placed via the 360 Compass platform:
- Any Construction policy with:
– A Contract Value lower than $10mil or
– A Turnover under $50mil - Any Machinery breakdown policy with:
– An asset schedule less than $5mil
When does this commence?
- New and Renewal Construction policies placed on or after 1 September 2020 will be available via the 360 online platform.
- Our Machinery Breakdown product offering will become available from 1 September 2020.
- 360 Construction will issue renewal declarations, complete premium adjustments and issue renewal terms for policies falling into the above category.
Will QBE still offer products direct to brokers?
Yes, the QBE team will still be there to support you. This partnership will allow QBE time to focus on those larger risks and more complex business.
What about my SME renewals?
The team at 360 Construction will issue renewal terms and assist you through the adjustment process using their online platform.
Will there be any changes to the policy wording?
No, we will be ensuring there is full continuity of cover for all business moving to 360 Construction.
What if I’m not set up to use the 360 Compass Platform?
Please contact the 360 team at construction@360uw.com.au for any assistance.
CLICK HERE to view our 360 Group Business Banking Details and Staff Contacts
