sail-world.com
 
 
News Home Boats for Sale MarineBusiness-World Sail-World Racing Cruising Int Magnetic Is RW Photo Gallery FishingBoating
Sail-World.com : Is it WoM or some other virus with Pantaenius Insurance?
Is it WoM or some other virus with Pantaenius Insurance?


'The marine environment is harsh, so choose the best insurance for your needs.'    John Curnow ©

Honestly, what does one really mean by that? Well, quite simply, is it Word of Mouth or its Digital Age cousin, viral marketing, that has seen Pantaenius not only grow, but also begin to make a significant impact in Asia Pacific waters?

No doubt, the all-risk policy, agreed fixed value, new for old replacement and wear and tear clauses have had a major play in the whole equation, but when it comes to growth, nothing succeeds like success.


So how do you measure success then? Is it inquiry rates? Perhaps it is the conversion of those prospects into clients. Most likely, but then standing atop there is that marketer’s holy grail. It’s just about as elusive as when Indiana Jones had to make his ultimate choice inside the Temple of the Sun. Now in nautical terms it is like the keel made from unobtanium. Yes. That would be the old word of mouth.

Part of the Pantaenius Australia team - Lto R: Adam Brown, Michelle Rathgeb and Jamie MacPhail. -  John Curnow ©  

We’re talking about your Brand Ambassadors and they are not even on the payroll. No matter if it is after a couple of sherbets at the bar, or across the pen as you do any of those never-likely-to-be-five-minutes-jobs-around-a-boat tasks (and say that after a couple of attitude adjusters), people are talking about Pantaenius.

But alas, enough of such frivolity. What are the tintacks in question here? To do that, we caught up once again with Pantaenius Australia’s Managing Director, Jamie MacPhail. 'There are a few distinguishing elements that have really allowed Pantaenius to stand out.

1. Pantaenius is the only marine insurer in Australia with an All Risk Policy. What this means is that everything is covered, bar a few exclusions, not the other way around. As a result, our policy documentation is much simpler, shorter and easier to understand. The advantage we own is that we have got a true marine insurance policy. One that has been written by experienced marine people for the marine industry. The Pantaenius policy document has been written specifically to cover yachts and cruisers in the pleasure boat market. More importantly, it was written by people with a combined four hundred years worth of experience in the industry.

2. Pantaenius is the only insurer that exclusively insures an Agreed Fixed Value. In short it means the number on the front is the one you’ll get paid in the event of a total loss. It all comes from a business that started writing the world’s first ever, agreed fixed value policy specifically tailored to the pleasure boat market, way back in 1963.

Sole cruising vessel at anchor in the tropics. -  John Curnow ©  

3. Worldwide coverage and support is another unique Pantaenius specialty and really the item that most people may have known us for originally. As a bonus, an Australian policy can automatically receive a trans Tasman extension. Quite the popular request at the moment is for cover into Asia and the Pacific, especially for yachts over $300,000 and powerboats over say $700,000. It’s a fifth to a quarter of the market, so it is very extensive and again, our simple, designed from the water up policy means that we cover what no one else can, or if they can it’s likely an unusual, thrown together policy document that has inherent holes in it and started life as a document that insured super tankers.

4. New for Old replacement is available to many when constructing your policy. This means that for claims for parts of the vessel, you will receive new items, not second-hand equipment to go back on board.

Out the front door and straight onto the boat. Good one! -  John Curnow ©  

5. Pantaenius covers wear and tear to your craft, if it is less than six years old or maintained in Bristol fashion. There is some detail that goes into the explanation with that, but it basically means you won’t be left carrying the can if something breaks or fails and subsequently causes a major disaster. We’re more than happy to sit down and walk through this or any other item with our potential customers whenever it suits them.'

So we have seen the items that have been responsible for the success, but what of the quantum. The first element is the conversion rate, which Jamie indicates is way ahead of expectations. 'When we get to really talk with a customer it’s as high as 80%. So for an insurance company in our space after just 12 months of operation, that is really very pleasing.'

Where there was once a gap in the Pantaenius map, the new Australian office has not only filled it, it has also provided many an insight into the way to build a loyal and happy client base.

'Pantaenius’ Australian office has provided both the location and a platform to step specifically into the Asian market. A fair proportion of our business is outside Australian territorial waters. It’s a mix of Australians buying and sailing their boats in Europe, the Caribbean and the Pacific, as well as a growing mix of Australians who are already in Asia or intending to cruise there, along with those about to buy boats and then go to Asia. This is a great arena for us and definitely part of why our share of Australia’s luxury boat market is really growing.'

A Megayacht glides along effortlessly in the sun - as it should be... -  John Curnow ©  

Around the globe, the group is quite clearly getting stronger too, as there are now over 80,000 clients. 'The number of clients insured and the subsequent premium base continues to grow strongly for Pantaenius worldwide, which we believe is a bit unique in this market, particularly with the GFC in the last three and a half years. We have seen, particularly in Europe and the USA, a huge downturn in terms of boat sales and participation, but Pantaenius has actually seen a growth in both of these markets. Our business model, which is to work with a panel of insurers, provides for good risk diversification and delivers financially robust products. In the end, it is all about getting your claim paid', said MacPhail.

The desire for people in the greater marine sphere of interest to seek knowledge, whether it is news, product information or other services online is already the significant majority and still growing. Combine this with the unique Pantaenius offering with easy to comprehend material, along with the fact that the medium allows for more space and detail to cover things off than traditional delivery systems, and you see why there are such a high proportion of direct clients in the Pantaenius mix.

'Australia is a little bit different as we put a huge focus on dealing directly with our customers, whether it is at the prospect phase or a claim from a client. With Pantaenius Australia, the person who sells you the policy is also the one who handles any claim you may have.'

A large Nautor’s Swan demonstrates what grace is all about. -  John Curnow ©  

'Our relationship with Sail-World, Powerboat-World and all the other TetraMedia sites has been very successful because they are the places that boat owners go to read the news and pick up ideas and information on products and services within the industry. The group’s sites have contributed very significantly to the enquiry rate that we get directly from customers and without that direct relationship to customers, our ability to sell our product, which is unique, is very difficult because it takes time to explain the differences with our all risk policy and more people find out about us from WoM and viral and start understanding why we are different. All in all, this is how our conversion rate increases.'

Apart from having their unique product that really is the only one policy for true global cover, there is one other item that has contributed significantly to the huge amount of Pantaenius WoM that goes on around the globe.

'Word of mouth worldwide has given us an exceptional record in terms of handling claims. This is our best referral vehicle, as it comes from people who know us, met us, are insured with or who have been close to significant natural disasters like Hurricane Ivan. Ivan is a good case in point. If you Google ‘Pantaenius/Hurricane Ivan’, you will find out that Pantaenius not only managed it’s own claims but also those for many of our competitors. Pantaenius even hired it’s own cargo ship to transport damaged yachts to available repair facilities outside the Caribbean.'
'Here in Australia, we take a lot of calls from people who all comment, ‘We believe you are the people to deal with, because if we have got a claim at least you will pay out.'

Sportsfishermen lie at anchor after a big day tagging sailfish. -  John Curnow ©  

Looking to the positive, MacPhail went on to add, 'At least with us there not multiple people involved in managing their claim. The person that sold them insurance is the first point of contact when they bring their claim. Adam Brown is now leading claims management. 'Australia is a little different to our other Pantaenius offices worldwide. Our mix of direct client versus broker business is much higher. The group is very happy with what we are doing. From the claims we have already processed, it is pretty evident to us that most of the people are pleasantly surprised. They are not used to being treated the way we handle the claims process. They are telling us that for them it is not like previous times when they had to say to themselves, ‘I think I am insured, I have paid my money, but now I have got to find out whether I am really covered or not.'

'The Pantaenius claims system is fundamentally different. You are talking to the people who make the decisions, not some obscure third party or loss adjuster that you have never met, who could well have had their career on supertankers. You are dealing with someone who actually knows what a yacht looks like, knows what happens when they sink and has reasonable experience when it comes to understanding the value of the claims, along with the components and everything that goes into it.'

'Tell me you get that with many loss adjusters that turn up to work on claims for other people. If you have a claim with another company and it ends up going to a loss adjuster for assessment, the chances are the loss adjuster could be a person who cut their teeth in the auto trade, or maybe on ships cargo! It may not have been the case as little as five years ago, but it certainly is now, so if you know enough about claims to know who you would rather go with, then it really is time to start talking with Pantaenius,' said MacPhail.

Hard core blue water racing. -  John Curnow ©  

It all seems to make sense, whether you’re a global cruiser, family day sailor, mad keen blue water sportsfisherman or mega yacht owner. So if you’ve got the virus or been given the nod in a friendly chat with another owner, then it could well be time to see what all risk means for you. It may not be for everyone. Nothing ever is, but don’t you owe it to yourself to find out why so many are talking about Pantaenius?

Just a bit of Q&A could well save you a lot of stress and a whole heap of money later on, which would be exactly at a point when you do not have the time or the inclination to deal with either. See www.pantaenius.com.au or call +61 2 9936 1670.


by John Curnow

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=117773

6:51 PM Fri 20 Dec 2013GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.


Related News Stories:

29 Jan 2014  Cyclone Warning- Port Douglas to Mackay
10 Jun 2013  Healing powers of sailing - The most important part is the journey
02 Apr 2013  More question and answer time with marine insurance giant, Pantaenius
09 Jan 2013  Marine insurance giant Pantaenius - shaking the Australian market
03 Nov 2012  So just who is Pantaenius, then? (Part II)
25 Oct 2012  So just who is Pantaenius, then? (Part I)
22 Oct 2012  PANTAENIUS Sail & Motor Yacht Insurance opens office in Australia




Sail-World Cruising News - local and the World

Hamilton Island Audi Race Week 2015 – Have you booked your accommodation? It is always good to book early to secure the best properties as these book out first. ... [more]  

Airbnb may a popular 'peer-to-peer' lodging site on the web, but if you want to rent a boat in your local area or away, you’ve got options, too. Boatbound.com, Boatsetter.com and Cruzin.com are just a few of the new crop of online websites offering a chance to rent a boat for the day or weekend. ... [more]  

Australian father-son duo delays trip back home by By Matt Sheley | The Newport Daily News
Lousy weather and a wonky autopilot kept the 43-foot sailboat Sedona docked Monday at the Conanicut Marina in downtown Jamestown. Australians Reg and Jason McGlashan rode out the snow in the boat’s cabin, waiting for a marine electrician to show up and fix its electrical system. ... [more]  

The Wine List by Crystal Blues by SV Crystal Blues
After a busy few weeks we are almost ready for our departure to Sri Lanka and beyond. Friends Ray and Jan Pitt signed off the boat in Thailand, leaving us spoiled, relaxed and ready for the future. Four weeks ago we sailed south (overnight) from Koh Phayam, spending four days in Phuket, provisioning and making ready. ... [more]  

With shark encounters and bites on the rise, Lindsay Lyon, Shark Advocate and Managing Director of Shark Shield, the world’s only proven shark deterrent technology, provides his tips on preventing a shark attack as the last days of summer roll in. ... [more]  

Making its world debut at the Cannes Yachting Festival in 2014, the Beneteau Oceanis 35 is already making its mark in Australia, with a second place in its division on its first outing at the Festival of Sails, Geelong, Victoria in January. ... [more]  

The Baja Ha-Ha… The 750-mile cruiser rally from San Diego to Cabo San Lucas beckons with adventure, fun and memories-to-be-made. This year 171 boats and 525 participants answered the call. ... [more]  

Oceans of Hope is a Sailing Sclerosis Foundation project that aims to change perceptions of Multiple Sclerosis (MS), inspiring people with the disease to overcome their own personal challenges by telling the stories of those taking part in the first ever circumnavigation by a yacht crewed by people with MS. ... [more]  

Roads and Maritime Services expand live vision of conditions by Transport Roads and Maritime Services
Boaters now have access to live vision of conditions at more locations with an expanded network of 18 cameras in key coastal areas and one alpine waterway in NSW. ... [more]  

Boaters urged to postpone boating until conditions subside by Transport Roads and Maritime Services
Roads and Maritime Services is urging boaters in northern NSW to take extra care and consider whether it is necessary to go boating during heavy rain and blustery conditions resulting from Cyclone Marcia. ... [more]  

Rottnest Island set for the annual Festival of Sail by Susan Ghent, Western Australia
Picturesque Rottnest Island in Western Australia is the ideal backdrop for a weekend of yachting and social activities. Now in its fifth year, the two day Rottnest Festival of Sail will be held over the weekend of 28 and 29 March. Royal Freshwater Bay Yacht Club now invites entries for this annual event. ... [more]  

High seas weather warning for Metarea 10 issued by the Australian Bureau of Meteorology Tropical Cyclone Warning Centre Brisbane at 0907 UTC 19 February 2015. Hurricane force wind warning for North Eastern Area. ... [more]  

Tropical Cyclone Marcia is moving quickly through the Coral Sea towards the Queensland coast. The recent movement has been to the southwest, and it is expected to maintain this general motion through to landfall on the eastern Queensland coast between St Lawrence and Bundaberg early on Friday. Tropical Cyclone Marcia is expected to slowly intensify, with the possibility of reaching category 2 inte ... [more]  

Pacific Sky Power is launching the Kite Controller, a redesigned reel-bar with a compression winch that maintains equal line lengths throughout the launch and retrieval. For kayaks and canoes, this system enables sailing with a kite. ... [more]  

Boat owners cruising in Turkish waters are facing more difficulties because a new law regarding Residence Permits is confusing everyone concerned. ... [more]  

I was ruined...completely and utterly ruined. At the young age of 22, my very first trip to the Caribbean was to Eleuthera, which is, in my opinion, the most beautiful place on earth. It will now be an uphill battle for me to surpass my visit there. ... [more]  

This is an in-water trial set-up, which will involve The Albert Park Yachting and Angling Club (APYAC) assisting Fisheries Victoria and University of Melbourne to load and deploy locally sourced limestone rubble and other materials etc. onto to the seabed ... [more]  

ABC Media reports that a fire has ripped through Middle Harbour Yacht Club at the Spit Mosman. Emergency services were called to the club just before 11:00pm on Sunday to find the building was well alight ... [more]  

OCA Series - Face the fear with Julie Salisbury as she takes you on a journey at sea, encountering sharks and jellyfish, complete darkness alone 1,000 miles from land, battling malaria, a debilitating back injury, and being jilted in Malaysia and left alone with no money, friends, or home. ... [more]  

Dominica has been on 'the' list for quite some time now and when I actually get to do something on 'the' list, my heart skips a beat! Although Dominica still remains somewhat off-the-beaten track for boaters, it is located right in the middle of the chain of Caribbean islands and can be easily accessed from Antigua and Guadeloupe to the north or Martinique and St. Lucia to the south. ... [more]  

Yachts arriving in the Galapagos are now subject to more stringent checks to prevent introduced species invading the Islands. ... [more]  

Cruising under Power - With more and more members trading in the sails for the power option we thought we’d take a look and see if taking on the Power option really was turning to the Dark Side! ... [more]  

50th Newport Bermuda Race - When I wrote my history of the race, A Berth to Bermuda, in 2006, one theme wove its way through the narrative: Anyone who wishes to win the oldest of all ocean races must be prepared to be bold in choosing strategy and tactics. Jim McCurdy designed Carinas and sailed with the Nyes, as did his daughters, Hope and Sheila. ... [more]  

About five percent of our land-based mess (12.7 million metric tons of plastic) estimated to wind up in the water. Since their invention roughly 75 years ago, plastics have become increasingly prevalent in the consumer marketplace. Today, we use and dispose of plastics on a daily basis, in products like bottled water and grocery bags. Plastics now represent a significant portion of the solid waste ... [more]  

The Maritime Management Centre in NSW is calling on members of the boating public to have their say on a draft paper reviewing lifejacket safety standards in Australia. ... [more]  

At 20.29 UTC, Captian Piotr Kuzniar, & his 10 man polish crew onboard the 67 foot yacht Selma, reached the edge of the ice in the Ross Sea, at 78,43.S in the Bay of Whales, just over 100 nautical miles farther south then the previous record. ... [more]  

A Sunshine Coast driver has had that horrible sinking feeling after his car went under water at a local boat ramp. ... [more]  

Setouchi International Yacht Rally - Long time members Colin and Marion on Avant Garde got the opportunity of a lifetime sailing on the Setouchi Yacht Rally and spend some time cruising the Japanese Inland Sea, they loved it and the rally is being run again this year. Here are a few comments from Colin. ... [more]  

A cruising yacht has vanished from Opua and its owners fear it may have been sailed overseas.Could this happen to your yacht? Retired Whangarei couple Carol and Stephen Holland have owned the 14m cutter Harlech for 13 years and taken it on two trips to the South Pacific. ... [more]  

Early this morning a man suffered suspected spinal injuries when he and two companions were thrown from their 5m runabout as it flipped end-to-end on the hazardous Nambucca River Bar. ... [more]  

Getting your gear (wheel) on by Rob Kothe and Jedda Murphy Sail-World
On our new format Sail-World website you can see a Setting Gear Wheel on the top right hand side of each page of the website. This gives you the ability to decide the site layout you like best. ... [more]  

Offshore preparedness the focus of operation ‘Blue Water’ by Transport Roads and Maritime Services
Roads and Maritime Services Boating Safety Officers will be out in force on NSW waterways from today as part of Operation Blue Water with zero tolerance to boaters not carrying the correct safety equipment or following lifejacket laws. ... [more]  

The Australian Maritime Safety Authority (AMSA) is urging owners of emergency beacons to dispose of their unwanted beacons correctly. ... [more]  

Boat Docking Secrets - How to Avoid Springline Snap-back
New legislation would fix renewable fuel standard
New legislation would fix renewable fuel standard
Provisioning the aCappella Way
Rare and very unusual shark caught by fishermen on NSW Coast
Best Loch Ness Monster evidence may have been destroyed
Tall ship falls over - Could your boat do this?
Dangerous conditions predicted for NSW boaters
Cruise in company and enjoy a beautiful weekend at Cruising Yacht Club
Two Somali pirates appeal in deaths of four Americans aboard yacht
Producing jet fuel from ocean algae
The true story of Donald Crowhurst set for a major film adaptation
Humans drive 500 species of land animals extinct, now marine?
Club Marine magazine subscribers can win Birthday Bonanza prizes
Predicting coral reef futures under climate change
Sailors for the Sea launches ocean conservation movement to heal ocean
Changed boating conditions for Triathlon on Cudgen Creek next Sunday
Family rescued after catamaran breaks in half
New Holiday Camps at Lake Macquarie with the H2O Sports Academy
Sailing Sclerosis Oceans of Hope arrives in Panama City + Video
Planning an open ocean cruise? Become a Citizen Oceanographer   
Rarely sighted frilled shark turns up in Victorian waters   
Croatia First Regatta - Brand new limited entry one design event   
Doyle Sails offer sail repair and basic rigging service at BOISW   
World Arc Leg 2 - Fleet depart for San Blas   
World Arc - First arrivals to St Helena island   
Multihull Solutions launches expansive new website   
2014 warmest year since records began + Video   
Marine Rescue Trial Bay in midnight tow for disabled yacht   
Volcano creates large new Tongan island   
Summer camps for teens aboard an extraordinary tall ship   
Highland Yacht Club - Lake Ontario’s hidden jewel of a Yacht Club   
Particular Harbour – Gananoque   
SE Asia tanker hijacks rose in 2014 - IMB report reveals   
Rescuing Ben Ainslie from a boat? Stranger things have happened at sea   
Christmas Caribbean Rally - Success, new dates, multihulls offer   
Cruising like a Vendée Racer   
World ARC - Two rally fleets set sail   
Hidden battles on Reefs - How will corals fare in a changing ocean?   
Coral reefs threatened by a combination of changing ocean conditions   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News





Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph, contact the photographer directly.
XLXL NEW Cru SH
LocalAds   DE  ES  FR  IT