David McMurdo, CEO of Prevail, emphasized the agency's commitment to empowering brokers and partners with high-quality insurance products across niche consumer and specialty business segments. He highlighted that Prevail's current focus includes protecting high net worth individuals' homes and cherished possessions, luxury and classic motor vehicles, high-performance motorcycles, and Australian primary producer farms. Looking ahead, the agency plans to expand its offerings to resonate with a broader set of niche customer groups.
Prevail's product lineup features Elite Home, Elite Motor Vehicle, and Elite Motorcycle insurance products, which are already available on Steadfast's Simplafy Connect platform. The Farm Elite Insurance product is slated to join the platform next year, creating a streamlined digital marketplace for brokers to access all of Prevail's insurance solutions.
The integration of Mansions, Dawes, and Argis into Prevail leverages their combined expertise and longstanding presence in the market. Mansions and Dawes have been operating for over 30 years, focusing on high net worth home and contents insurance and luxury motor insurance, respectively. Argis has provided specialized coverage for farmers for more than two decades. This consolidation aims to enhance the quality and scope of insurance products available to clients.
Capacity for Prevail's home product continues to be provided by QBE, motor products are backed by Allianz, and farm insurance is underwritten by Pacific International Insurance. Notably, the home product has undergone enhancements, including an upgraded cyber protection benefit. Additionally, for properties that include cover for both home and contents, the minimum excess has increased from $1,000 to $2,500, while for properties with contents cover only, the minimum excess remains at $1,000.
For Australian farmers, this development signifies a strengthened commitment to providing comprehensive and tailored insurance solutions that address the unique risks associated with farming operations. The consolidation of expertise within Prevail is poised to offer enhanced support and protection for the agricultural community.
