Cyber insurance specialist Emergence has launched in New Zealand, hiring a well-known face from the industry to lead its push from across the Tasman.
Emergence Insurance CEO Troy Filipcevic said New Zealand was always part of his long-term Strategy.
“It’s been a key goal to expand internationally and launch Emergence’s dedicated cyber insurance products into new markets.”
“Providing greater capacity and a technology solution that offers quote-and-bind functionality with full policy lifecycle capability enables New Zealand brokers to efficiently provide adequate cyber protection for their clients,” Filipcevic said.
Emergence NZ Limited has set up an Auckland office, which will be headed by insurance industry veteran Fraser Walker.
Walker has 18 years’ experience in the industry including more than a decade with AIG. His last role at the insurance group was as head of client & broker engagement for AIG Insurance New Zealand.
Since 2021, he was head of risk & insurance at Construction Cost Consultants, a role that included hosting and presenting educational sessions to broker networks throughout New Zealand.
Filipcevic said Walker’s experience and strong broker relationships would be valuable in building the brand and providing solutions for the broker market “over the ditch”.
“New Zealand will benefit from everything we’ve learned from our Australian experience, including Emergence’s 24/7 in-house incident response capability.”
Walker, who starts as Emergence NZ’s business development manager on 17 July, plans to visit brokers in the North and South Islands to outline the benefits of Emergence’s products.
Brokers can access Emergence’s cyber event protection policy for SMEs, which has limits up to $10 million, and the cyber enterprise solution and cyber excess policies, with limits up to $20 million.
Walker welcomed the chance to collaborate with a start-up.
“Brokers want consistency and market accessibility,” he said. “I’ll be doing a lot of travel, including regional and rural New Zealand, to engage strategically with brokers.
“We need to earn our stripes here, so it helps having someone local who understands the nuances of the New Zealand market and can offer our strong proposition to the market.
Cyber insurance uptake is in its infancy in New Zealand but gaining momentum.”
Filipcevic said Emergence NZ offered 100% Lloyd’s security and had a broad appetite. He signalled further expansion and more cyber services for NZ.
“We have just launched cyberSuite, a dedicated cyber advisory practice, and other initiatives are planned.”
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