Underwriting agencies today are increasingly influential in the market, and brokers are responding to that. UAC’s aim is to build advocacy that allows our members to have their insights and their expressions influence the regulatory environment and shape how we talk about the emerging issues and opportunities in our space.
Insurers are well recognised through the ICA, but underwriting agencies have not had the same opportunity.
UAC has grown, particularly in the last five years, and its level of influence in talking to capacity providers in Australia and London, is significant. However, it is more important than ever to have our position recognised, understood and taken into consideration.
UAC aims to have its members voices represented across all levels of government and our regulators, such as ASIC and APRA. As an organisation, we still have a long way to go to exert the influence we believe is worthy of our position in the industry.
Many people don’t understand the influence that underwriting agencies have in terms of how insurance is placed in this market. This strategic plan pillar is aimed to change that and provide a stronger voice for our members and their needs.
For our members’ continued success, as an organisation, we must be able to successfully raise members’ concerns and issues at the highest level.