26/09/2006
AAMI enters small business insurance market
Leading national insurer AAMI will look to emulate its success in the home and motor vehicle insurance markets when it enters the small business insurance market this month.
AAMI has announced that Australian Better Business Insurance (ABBi) will become known as AAMI Business Insurance from 26 September – a natural progression that began last year when AAMI began underwriting insurance for ABBi, which was also a part of the Promina Group.
According to AAMI Business Insurance National Manager Ian Badger, the change will enable the business to draw on the widespread recognition of the AAMI brand and its reputation for excellent insurance products and customer service.
"This name change is an extremely positive step for ABBi and AAMI customers," said Mr Badger. "It provides us with a great opportunity for further growth and expansion, allowing us to offer our customers insurance for their homes, contents and cars, and now for their business."
Mr Badger said the small-medium enterprise (SME) sector is one of the fastest growing industry sectors in Australia, representing around 96% of all private sector businesses.
"This is an exciting new area for AAMI with an estimated market of 1.3 million small businesses in Australia -- and with 68% of SMEs reportedly operating their businesses from or at home, there are clear opportunities to provide this service to current AAMI customers," he said.
AAMI Business Insurance will provide a range of insurance cover via two core products:
Business Insurance will provide cover for businesses such as professional offices, retailers, and small manufacturers;
Business@Home is designed for people who run their business from or at home, and want to combine their business and home insurance needs into one package. Typically, this includes contractors who work away from home, as well as the growing number of people who provide services from their home.
AAMI Business Insurance provides various kinds of insurance protection required by small business including public and products liability, fire, theft and business interruption policies. It will continue to operate in all Australian States and Territories.
Mr Badger said the name change would be seamless, and that all existing ABBi customers have been notified of the pending change, and the many benefits of being more closely aligned with the AAMI brand.
"Current ABBi customers will still contact us by using the telephone numbers they are used to, and because AAMI already underwrites our policies customers won't have to do anything differently," he said.
AAMI Business Insurance can be contacted at ph 13 22 44 or via www.aami.com.au
