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Emergence Scoops the Pool at Industry awards

Emergence has added to its burgeoning trophy cabinet.

Emergence has won Insurance Business magazine’s 2019 broker’s pick award for the third consecutive year and the fourth time in five years.

The agency also was voted top provider for cyber and information technology liability insurance, with its cyber product achieving the gold award for the class.

The cyber product award is Emergence’s second consecutive gold award in the category, after it achieved silver in 2017 and bronze in 2016.

The underwriting agency awards are voted by brokers.

Emergence is also Insurance Business magazine’s 2019 underwriting agency of the year and was a finalist in the 2019 ANZIIF-Asia Insurance Review underwriting agency of the year award.

Founder and Managing Director Troy Filipcevic says the latest accolades are further proof of the value Emergence brings to the market for cyber risk coverage.

“We’re being rewarded for doing just one thing and doing it well,” he said. Emergence only writes cyber insurance.

Troy said the awards validate Emergence and its team as experts in their field.

“With a lot of uncertainty in the market about what is and isn’t covered by various wordings, Emergence is a safe pair of hands,” he said.

“We’ve got best-in-class wording, stable pricing, and a team of people who understand the nuances of the product and the risks we’re underwriting. Once you package that together, it’s a great proposition.”

Competition is increasing in the cyber risk market, but no one can boast the level of expertise amassed through the depth of the Emergence team.

“If cyber is just part of a suite of products, you’re not getting a 100% focus. Our substantial growth since Emergence’s 2015 launch shows brokers want to use specialist agencies for specialist products,” Troy said.

Another advantage is Emergence’s commitment to broker education. “We’re helping brokers build a tool kit so they are well equipped to have cyber risk conversations with clients,” he said.

“Brokers can struggle to convince clients of cyber cover’s value to their organisations but, if we assist them to understand why the cover is essential, they can demonstrate competent knowledge in client discussions. Emergence invests heavily in up-skilling brokers’ staff.”

Broker education is reinforced through regular webinars, which often attract more than 1,000 brokers; one-on-one information sessions around the nation; and frequent social media posts exploring emerging risks and new threats.

Since its 2015 launch, Emergence has developed a solid book of business and grown steadily to establish itself as the cyber insurance market leader.

“We have built a business on identifying and quantifying new and emerging cyber security risks and creating tailored insurance products to protect against them,” Troy said.

“We’re no longer the new kid on the block, we’re a market leader, and that puts brokers’ minds at ease.”

Emergence is a pioneer of cyber cover in Australia and provides protection for SMEs through to ASX-listed entities.

A cyber insurance policy is part of every successful business’s risk management framework, but it’s not the first line of defence.

The cover is designed to protect businesses when their IT security, policies and procedures fail to stop an attack.

Access the broker portal to obtain Emergence cyber quotations for your clients.

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