underwrite general insurance products that are branded under the AMP name and delivered through insurance advisors as well as online through the AMP website. The last deal was signed in 2014 and was valid for seven years. According to the partnering companies, the extension takes effect on January 1 and it demonstrates the companies’ continued efforts to simplify product and pricing procedures, as well as their greater emphasis on consumer behavior.
Blair Vernon, chief executive of AMP Wealth Management, spoke about the general insurance business. He said, “In the past two decades we’ve doubled the size of our general insurance business and paid more than $1.4 billion in claims to help our clients when they needed it the most – whether that’s fixing a ding in the car or responding to serious events like the Canterbury earthquakes, or even the recent flooding in West Auckland”.
Blair Vernon further spoke about customer service. He said, “We continue to see a significant portion of clients seeking the valuable guidance of their adviser and broker to help meet their insurance needs. We are now also seeing the emergence of those who choose to do business with us digitally, and we’re delighted with how we’re able to provide help to those clients also.”
According to Mark Wilkshire, Vero’s executive general manager of customer brand and distribution, the partnership between Vero and AMP is essential to both the organizations, and the new deal represents a substantial portfolio of clients. Wilkshire expressed delight over the collaboration. He said, “We are delighted not only to continue our corporate partnership with AMP, but also to update our agreement to support the change and growth that AMP is undergoing and enable both businesses to continue to deliver great customer outcomes and sustainable insurance products into the future”.
