Media Release
May 5, 2008
1
Rabo Financial Advisors strengthens its insurance offering to
the rural sector
Rabo Financial Advisors (RFA) – the specialist financial planning subsidiary of major rural lender
Rabobank – has moved to further deepen its knowledge of the needs of primary producers and
regional businesses in the area of personal risk insurance.
RFA commissioned leading research group DEXX&R to conduct a full review of insurance offerings
for the rural and regional sector, with the aim to find providers who could service the unique needs of
farmers and regional businesses and who recognised the difficulties often faced in meeting
underwriting requirements.
Head of Rabo Financial Advisors Colin Williams says underinsurance is a major issue throughout
Australia and the key factors which result in underinsurance nationally are often magnified in the non-
metropolitan areas. Some of the factors contributing to underinsurance in rural Australia are a lack of
medical services in remote communities creating difficulties in obtaining medical tests required for
insurance policies, and a lack of flexibility in the underwriting processes of many of the major
insurance providers, Mr Williams noted.
“RFA has been focussing on the provision of suitable insurance of its rural and regional clients, and
their city counterparts, for some time. It has always been a challenge to find providers who can not
only play a role in both sectors, but are willing to be progressive rather than defensive underwriters,”
he said.
As a result of the successful completion of the survey, Mr Williams said, RFA had been able to
impress upon the successful firms the need for a consultative and broader approach to the
underwriting process as well as a higher level of training for staff in the field so any potential issues
are recognised early in the process.
Managing Director of DEXX&R Mark Kachor headed up the review project on behalf of RFA and is
delighted with the results.
“There is a real need for the large insurance providers to understand the issues in the primary
production sector and regional/rural small businesses. Many focus firmly on the professional/blue
collar workforce with the primary production sector somewhat neglected. With RFA now positioned to
work much more closely with the insurance underwriters, they can help forge closer ties to this
market,” he said. “I am delighted to be working with such a progressive company.”
Whilst RFA will maintain existing relationships where appropriate, they are looking forward to building
a strong footprint with the three core providers who have come through the research process - Aviva,
Asteron and CommInsure.
“We see Aviva, Asteron and CommInsure as being an integral part of our business going forward and
will look to them to play a leading role in providing risk products to our expanding client base” Mr
Williams said.
Media Release
May 5, 2008
2
In total, nine leading life companies were surveyed on a range of product and underwriting standards
relative not only to the professional/blue collar workforce, but also in the areas of farm owner/manager
and farm workers as well as the aquaculture and mining industries.
Mr Williams said it was important throughout the whole process to be able to forge strong
relationships and service guidelines with the chosen providers.
“There seemed little point in offering an extensive list of providers, but not having strong ties to any. It
is an important part of the strong service standards RFA has with our clients that we pride ourselves
on the quality of the relationships we build with our clients and service providers,” he said.
“Insurance is a long-term investment and you need to be sure that when you need it the most, at the
time of claim, that the company you deal with is solid, reputable and has a top-notch claims handling
process.”
DEXX&R has been retained to provide ongoing consultancy to RFA.
Rabo Financial Advisors Limited ABN 46 096 538 288 AFSL 224 709 is a subsidiary of
Rabobank Australia. RFA are innovative specialists offering advisory services in investment
and personal risk protection. RFA’s mission is to provide high quality financial advice driven
by the relationships forged with clients and delivering ongoing advice tailored to each client’s
unique needs.
Rabobank Australia is a part of the international Rabobank Group, the world’s leading
specialist in food and agribusiness banking. Rabobank has more than 100 years’ experience
providing customised banking and finance solutions to businesses involved in all aspects of
food and agribusiness. Rabobank has a AAA credit rating and is ranked as one of the world’s
safest banks by Global Finance magazine. Rabobank operates in 43 countries, servicing the
needs of more than nine million clients worldwide through a network of more than 1500 offices
and branches. Rabobank Australia is one of Australia’s leading rural lenders and a significant
provider of business and corporate banking and financial services to the Australian food and
agribusiness sector. The bank has 49 locations throughout Australia.
< ENDS >
Media contacts:
Jen Reid
Public Relations
Rabobank Australia & New Zealand
Phone: (02) 8115-4861
Email: jen.reid@rabobank.com
NEWS 
