How the money works, and where your money goes
This is a FSG issued by Agile Insurance Services Pty Ltd (AGILE) in relation to general insurance products promoted by AGILE. The purpose of this FSG is to help you to make an informed decision about whether to use the financial services AGILE can provide to you. It contains information on:
- who AGILE is and how we can be contacted or given instructions;
- the services AGILE offers to you and how they are provided;
- how AGILE and other relevant persons are remunerated;
- AGILE’s compensation arrangements;
- our commitment to protecting your privacy;
- how complaints are dealt with; and
- other disclosure documents you may also receive.
Other disclosure documents you may receive
Where required, you will also be given a Product Disclosure Statement (PDS) before or at the time you acquire any product as a retail client. The PDS contains information on the benefits and significant characteristics of the product and is designed to assist you in making an informed decision about whether to buy the product or not. It may be more than one document.
About Agile Underwriting Services (AGILE)
AGILE is an Australian licensed insurance underwriting agency, AFS 483374 and are a Coverholder at Lloyd’s providing innovative, rapid and efficient product solutions. AGILE’s details are as follows:
|ABN:||48 607 908 243|
|Head Office:||Level 5, 63 York St, SYDNEY NSW 2000|
|Postal Address:||Level 5, 63 York St, SYDNEY NSW 2000|
|Telephone:||1300 475 092|
AGILE is part of the AGENT ZERO Group of Companies. With exceptional underwriting and claims teams, AGILE is committed to excellence, integrity and to providing quality service and insurance products. Around the world, AGILE’s clients and brokers can expect the highest level of commitment and service. AGILE focuses on its clients, building strong relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength.
General Insurance Code of Practice
AGILE is a signatory to the General Insurance Code of Practice (the Code).
The Code sets out minimum standards that AGILE will uphold in respect of the
products and services that it provides. Further information about the code is
available at www.codeofpractice.com.au and on request.
Lloyd’s is a unique insurance market and has been in operation for more than 325 years. Lloyd’s is the world’s leading market for specialist insurance and has an unrivalled concentration of specialist underwriting expertise. With expertise earned over centuries led by expert underwriters and brokers who cover more than 200 countries and territories, the Lloyd’s market develops the essential, complex and critical insurance needed to underwrite your most prized assets. Lloyd’s is backed by diverse global capital and excellent financial ratings. More information can be found at www.lloyds.com.
How Agile provides its services
AGILE may provide a dealing service, with or without general advice, in relation to the general insurance products that AGILE distributes. When AGILE issues general insurance products, AGILE acts on insurers behalf, not yours. In dealing with us, AGILE will collect information from you to be able to market and issue the product and manage your and AGILE’s rights and obligations under the product. AGILE will also give you factual information about the product to help you decide whether to buy the policy.
How Agile is paid for its services
Payment for the services AGILE provides
As the issuer of any insurance policy, we will charge you an agreed premium for that product based on a number of factors including your risk profile and circumstances (plus relevant taxes and charges) which we will calculate and provide you with before you buy the product. In issuing this policy, AGILE underwrites on behalf of certain Underwriters at Lloyd’s, and acts as agent for the Underwriters in performing its duties under a Binding Authority Agreement.
AGILE receives a commission calculated as a percentage of the premium for performing this work.
Remuneration of our staff
All permanent AGILE employees are paid an annual salary. An annual bonus may be paid in some circumstances, which can be based on performance against sales targets and other performance criteria. All temporary AGILE employees receive hourly wages or such wages otherwise agreed for a fixed term or contract. Performance-based payments may also be paid in some circumstances. AGILE employees may also receive other non-monetary benefits such as attendance at business related conferences, study trips, other functions or gift vouchers.
Referral to AGILE by third parties
In certain cases, we may have a relationship with a third party who we may pay for referring you to us. We may pay them a referral fee which is a percentage of the net premium of an insurance policy (which is the total premium payable less GST and Stamp Duty).
This referral fee is already incorporated into the premium payable by you and the amount can vary, depending on the type of arrangement we have with the third party and the type of insurance product you purchase. The amount we pay them includes a reimbursement of expenses they incur in performing their role, for example marketing, postage, telephone, printing and call centre costs. The referral fee is normally payable to third parties on a monthly or quarterly basis, in arrears.
You can ask us to give you more particulars of the remuneration or other benefits referred to above within a reasonable period after receiving this FSG and before we provide you with the financial service to which this FSG relates, unless we agree otherwise.
AGILE may authorise a number of marketing and telemarketing companies to provide services on its behalf for which they receive remuneration from AGILE. See below for further details about their remuneration. These services may include an inbound and outbound call centre to assist you in applying for the policy and to answer any general queries you may have about the policy. The companies follow procedures set by AGILE and may also provide you with general advice which has been prepared and authorised by AGILE. In providing these services, the companies act on AGILE’s behalf, not yours. The companies may also act on behalf of other licensees. For further details, please contact AGILE on 1300 475 092.
Remuneration of a marketing company’s staff
Depending on the particulars of each marketing or telemarketing campaign, a company’s employees will receive a salary or a fee which is an hourly rate negotiated with the telemarketing company and may also receive one or more of the following benefits which are based on the employees’ performance against sales targets and other performance criteria:
- soft dollar benefits which can include gift vouchers, meals, entertainment such as tickets to sporting events and gifts such as bottles of wine; &/ or ;
- weekly monetary bonuses.
These benefits are paid by the company and not AGILE. The identity and remuneration of individual operators should not impact the service provided or be material to your decision to enter into an insurance contract with AGILE.
Referral to AGILE by third parties
In certain cases, we may have a relationship with a third party who we may pay for referring you to us. We may pay them a referral fee which is a percentage of the net premium of an insurance policy (which is the total premium payable less GST, Stamp Duty and Fire Services Levy, where applicable). This referral fee is already incorporated into the premium payable by you and the amount can vary, depending on the type of arrangement we have with the third party and the type of insurance product you purchase. The amount we pay them includes a reimbursement of expenses they incur in performing their role, for example marketing, postage, telephone, printing and call centre costs. The referral fee is normally payable to third parties on a monthly or quarterly basis, in arrears.
Please refer to the Financial Claims Scheme and Compensation Arrangements section contained within the PDS section of this booklet – Combined Policy Wording and PDS and FSG.
Personal information handling practices
Collection, Use and Disclosure
We collect your personal information (which may include sensitive information) when you are applying for, changing or renewing an insurance policy with us or when we are processing a claim in order to help us properly administrate your insurance proposal, policy or claim. Personal information may be obtained by us directly from you or via a third party such as your insurance intermediary or employer (e.g. in the case of a group insurance policy). When information is provided to us via a third party we use that information on the basis that you have consented or would reasonably expect us to collect your personal information in this way and we take reasonable steps to ensure that you have been made aware of how we handle your personal information. The primary purpose for our collection and use of your personal information is to enable us to provide insurance services to you. Sometimes, we may use your personal information for our marketing campaigns, in relation to new products, services or information that may be of interest to you. We may disclose the information we collect to third parties, including service providers engaged by us to carry out certain business activities on our behalf (such as assessors and call centres in Australia). In some circumstances, in order to provide our services to you, we may need to transfer personal information to other entities within the Agent Zero Group of companies, (such as the regional head offices of AGILE located in other jurisdictions) or third parties with whom we, or those other Agent Zero Group entities, have sub-contracted to provide a specific service for us and these may be outside of Australia. In particular, certain business process functions of AGILE are performed by a dedicated servicing unit located in the Philippines. Please note that no personal information is disclosed by us to any overseas entity for marketing purposes. In all instances where personal information may be disclosed overseas, in addition to any local data privacy laws, we have measures in place to ensure that those parties hold and use that information in accordance with the consent you have provided and in accordance with our obligations to you under the Privacy Act 1998 (Cth).
How to Contact Us
Tel: 1300 475 092 or email email@example.com