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

7:51 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

Minister for Natural Resources, Lands and Water, Kevin Humphries and Minister for Roads and Freight Duncan Gay have announced the successful tender for the dredging of Swansea Channel has been awarded to Neumann Dredging Pty Ltd. ... [more]  

The World ARC fleet departed the Cocos (Keeling) Islands this morning, embarking on the second longest sail of their circumnavigation; a 2350 nautical miles journey to Mauritius. Their stay in the tropical atoll has certainly been one to remember. ... [more]  

Pantaenius, the world’s leading specialist yacht insurance company, has been at the forefront of yacht insurance for more than 40 years, earning a reputation for transparency and commitment to customer service that provides round-the-clock international support and reliable, speedy claims settlement. ... [more]  

Auckland On The Water Boat Show: Images from the final day by Richard Gladwell, Sail-World.com/nz
The Auckland International Boat Show concluded today having enjoyed four days of moderately acceptable weather. Attendance figures have not yet been announced however they are expected to be close to or exceed last year's Show. ... [more]  

World-wide the development of marine wind farms will grow. Britain's RYA is taking a proactive stance that can serve as an example for other yachting bodies. If wind farms could be an issue in your waters, its important to follow just what is happening in GBR. Speaking today Stuart Carruthers, RYA Cruising Manager said 'The RYA will now be responding to those of the Panel’s questions that have bee ... [more]  

How to make a distance scale for faster navigation by Captain John Jamieson, Florida
If you are anything like me, sailing navigation can be a challenge when short- or single-handed sailing. But you still need to be able to plot fast and accurate positions for sailing safety. Here one little-known sailing tip used by the pros that will help you do just that! ... [more]  

A new provisional World Record was set on the Viaduct Harbour today with 52 paddlers covering the 100 metre course on the Lancer SUP. There were no incidents in the attempt - which sets a new mark category in the Guinness World Records. ... [more]  

Marine Rescue Forster-Tuncurry has been named a winner in the 2014 NSW Water Safety Awards, taking out the prize for the Water Safety Event of the Year. The Award, presented tonight, is for the unit’s successful Water Expo, staged in January at the peak of the summer holiday and boating season. The award was accepted by Deputy Unit Commander Ray Mazurek. ... [more]  

Marine Rescue NSW volunteers have been recognised for their enormous contribution to safety on the water, with the rescue service taking out a prestigious title at the 2014 NSW Water Safety Awards. MRNSW won the Most Outstanding Contribution to Water Safety by an Organisation category at the annual awards, presented tonight. ... [more]  

The 14th edition of the Atlas also includes a new double page map of the Arctic Ocean, which highlights the dramatic long-term decline of Arctic sea ice cover. The sub-ice maps draw on bedrock data, provided by the British Antarctic Survey, to show physical features which are obscured by ice cover. ... [more]  

An attempt will be made on Saturday afternoon set set a new Guinness World Record mark for the most people on a Stand Up Paddleboard (SUP) The SUP used for the record attempt will be supplied by leading New Zealand inflatable manufacturer, Lancer Industries, and the SUP uses Lancer's AirDock technology.. ... [more]  

Rescue vessel Point Danger 30 from Marine Rescue Point Danger base, went to the aid of a yacht with mechanical and sail failure shortly before 10 o’clock this morning. The yacht, with three people on board had been experiencing strong winds east of Cook Island off the coast of Northern NSW and was forced to seek help when its engine failed and mainsail blew out. ... [more]  

A win for sharks by Nathaniel Pelle
Earlier this year, thousands of Australians, including you, united to stop this brutal and unnecessary practice. I’ve never seen anything quite like it - protesters gathered on beaches from Manly to Margaret River and flooded Environment Minister Greg Hunt’s inbox with nearly a quarter of a million emails calling on him to stop the cull. ... [more]  

Sail-World did a quick tour of the on the water exhibits at the Auckland On The Water Boat Show. Her's a quick selection of some of the almost 200 boats on the water in the Viaduct Harbour. ... [more]  

The Auckland On The Water Boat Show opened this morning in brilliant Spring sunshine. Based on the Viaduct Harbour, Auckland, there are nearly 200 exhibiting companies and over 200 boats are at the event which runs through to Sunday September 28. ... [more]  

On Monday 22 September the EU Naval Force flagship, ITS Andrea Doria, met the Chinese Navy ship, CNS Changbaishan, in the Gulf of Aden. ... [more]  

RBT only applies when vessel is underway by Boating Industry Association
Following some reports RBT testing was occurring whilst at anchor, Michael Drake Principal Manager Boating Safety, Maritime Management Centre, Transport for NSW, has confirmed with RMS legal team that 'RBT only applies when a vessel is underway (i.e. not at anchor, moored or berthed at a wharf or marina)'. ... [more]  

Iridium have recently released the Iridium GO!, their latest product in the satellite communication market. It’s portable, battery powered, and creates a WiFi hotspot. www.predictwind.com!PredictWind!new have partnered with Iridium to put together a package catering specifically to the marine market. ... [more]  

In the early morning of Friday 19 September, EU Naval Force frigate, ESPS Navarra, came to the aid of a stricken yacht in the Gulf of Aden. The yacht had been detected on the warship’s radar in the early morning. ESPS Navarra’s Bridge team initially tried to hail the yacht via their VHF radio. ... [more]  

The Canberra Yacht Club is looking for a Dinghy Sailing Instructor/Coach in its very busy Sailing School. The CYC Sailing School is the fourth largest centre in Australia training over 1,000 kids and adults from Opti learn to sail to HP coaching. ... [more]  

Making its debut at the Gold Coast International Marine Expo, the BRIG Navigator 700 is 7-metres of versatility and durability, with room for 11 people in comfort – 12 in the twin engine version. ... [more]  

Lost your rudder at sea? Michael Keyworth perfected a way to steer using drogues. To engineer this solution, he removed the rudder from his own boat(!), and experimented with different method, and has summarized his technique in this terrific article. ... [more]  

The operator of a Portsmouth-based barge has today been made to pay almost £111,000 in fines and costs after pleading guilty to a breach of maritime legislation. Serco Ltd admitted an offence at Portsmouth Crown Court in relation to the health and safety of workers aboard the barge 1706, which is operated as part of a service contract with the Ministry of Defence. ... [more]  

You scratched my seagrass! by Steven Katona, Newport, RI
Sailors for the Sea publishes monthly articles that translate the language of marine science into fascinating articles about ocean health. ... [more]  

Following a relatively short stopover in Christmas Island, eleven of the World ARC fleet have now arrived in their next paradise, the Cocos (Keeling) Islands. From first settlement in 1826 by English merchant Alexander Hare, through decades of administration by the Clunies-Ross dynasty, most island inhabitants had little freedom or contact with the outside world. ... [more]  

This might be the Texting and Facebook generation but boaters need to use VHF radio says volunteer rescuers from Weston-super-Mare's lifeboat station who rescued a yachtsman whose boat sank in the middle of the Bristol Channel and who then texted his girlfriend. ... [more]  

Earlier this year two men died in their bunks of carbon monoxide poisoning caused by the highly toxic fumes given off from a poorly maintained butane gas cooker. The cooker which was located in the wheelhouse had been lit to heat the wheelhouse and sleeping area. A carbon monoxide alarm was not fitted. ... [more]  

The Arctic is an ocean surrounded by land and Arctic sea ice is the thin layer of frozen ocean water that forms and grows during the winter, and melts in the summer. Dr Jeremy Wilkinson from the British Antarctic Survey provides a scientist’s perspective on the trend for decreasing Arctic sea ice. ... [more]  

Eight students from grades four through six took part in the Hamilton Island State School sailing and leadership programme this year, taking place every Friday during terms two and three. Students participating not only learned the rigours of theoretical and practical sailing skills, but also life skills. ... [more]  

The Virgin Islands are an archipelago. That part, which is a British overseas territory, is commonly referred to as the BVI. About 30,000 people live in the BVI, most of which live on the island of Tortola. The BVI are comprised of about 50 islands the majority of which are not inhabited by humans. ... [more]  

Owner Paul Darrouzet and Marketing and Business Development Manager Luke McCaul talk about the redevelopments over the last year. See for yourself how Abell Point Marina has changed and our commitment to our customers. ... [more]  

Dangerous conditions forecast for NSW boaters by Roads and Maritime Services
Roads and Maritime Services has issued an alert after a Bureau of Meteorology warning about dangerous surf conditions from Gabo Island to Tweed Heads developing tomorrow, Sunday 21 September. ... [more]  

The Galley Guys take on the Vancouver International Boat Show by Greg Nicoll with Frank Leffelaar and Friends
The Galley Guys hit the Vancouver International Boat Show running. All day long, we were checking out new boats, looking into ice lockers, peeking into storage compartments, seeing what’s new for gourmet cooking onboard and being forced to live on 'show food' by day. ... [more]  

Are you ready to enter that marina?
African nations unite for lifesaving training
New Zealand boating industry showing strong growth
World ARC fleet moored at Christmas Island
Blue Planet Odyssey welcomed to Bora Bora
Volvo Ocean Race: Win a stopover trip by designing an ECsix T-Shirt
New Zealand's largest on water boat show kicks off next Thursday
Where the audience is matters a lot for advertisers
Remember to properly dispose of obsolete distress beacons
Blue Planet Odyssey - Aventura makes landfall in the US
World ARC fleet bids farewell to Bali
Superior prepares for Monaco Yacht Show debut *Feature
Impressive new catamaran set to power onto world stage
Antarctic Team discovers mechanism for massive ice shelf collapse
Baltic 4 Nations - Next edition sets sail July 2015
Yachts prepare for second Atlantic Odyssey, departing this November
Thai drama with Phuket yacht clampdown
Airlie Beach Music Festival 7th – 9th November 2014
P&O and Princess Cruise Ships to continue operating into Abell Point
Sailing Rallies launch two new events at PSP Southampton Boat Show
Multihull Central: Record sales, Outremer blog, Regattas and much more   
World ARC crews in Bali   
Could your sailing navigation use a tune-up?   
Images of marine sunsets by Tripadvisor   
4th Multihull Solutions Whitsunday Rendezvous an outstanding success   
Citizen science model proposed to fill fundamental ocean data gap   
Evans Head volunteers rescue charter boat in dawn operation   
Ocean Cruising Club celebrates 60th Anniversary with record gatherings   
Shedding light on the life of former lighthouse keepers + Video   
Southport Yacht Club celebrates opening of 68th season *Feature   
Marine Auctions adds new recruits   
2014 Auckland on Water Boat Show: Coming up at the end of September   
The Boat Cookbook   
Indian Ocean-wide tsunami exercise to test readiness   
Blue Planet Odyssey - Aventura makes landfall at St John’s   
Round the World racer joins Southern Pacific Inflatables   
New exhibition explores role of Royal Australian Navy in WWI   
18 anti-piracy weapons for ships to fight pirates   
World ARC fleet now arriving in Bali   
Skysol Frame Large: A new shading solution for sunroofs   


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