Compass Insurance uses the Specialty Business Model whereby direct insurance companies outsource the marketing, claims handling and underwriting function to specialised Underwriting Managers. The Specialty Business Model, as developed on an international basis, has been tailored to suit the local market's requirements.

Compass is uniquely positioned in the short-term insurance industry in South Africa and only deals with Underwriting Managers and outsource suppliers, which has the following advantages:

• We concentrate on developing meaningful relationships with our business partners through service, analysis and innovation.
• Compass is able to share ideas with its international colleagues on the Specialty Business Model, allowing for the introduction of world class service and products to the South African market.
• Our Underwriting Managers, our business partners, focus on providing innovative products and a specialised administration service to short-term insurance brokers.
• Compass does not market its own products nor does it solicit business directly from consumers. Since much of the responsibility and authority rests with the Underwriting Managers, they have the freedom to make underwriting decisions, create new niche products and develop new markets.
• We acknowledge the expertise of our Underwriting Managers in their relevant fields, and build our business model based on a trust relationship.
• We strive to be the most attractive and consistent long-term partner for our selected Underwriting Managers by giving them analytical assessments and providing an information technology platform which allows for a detailed assessment of trends and statistics.
• Compass Insurance focuses on providing underwriting capacity and capital for motor, household and commercial short-term insurance, working in close co-operation with re-insurers and highly-specialised Underwriting Managers typically focused on niche and non-standard coverage and hard-to-place risks.
• Using their own brand, the Underwriting Managers develop the business through individual risk underwriting, within agreed guidelines, and building relationships with the brokers and end-users.
• Underwriting Managers are given the freedom to run their own companies as creatively, innovatively and pro-actively as they wish, yet at the same time they can rely on internal guidelines, control, support and expertise to make sure we all achieve our mutual business strategies
  

	COMPASS
	Both Compass and Agent
	Underwriting Agent Develops the business plan, concepts, products and markets Manages the entire business
	Broker / Intermediary Plays an important marketing role Sources new business and niche markets
	Customer / Policy holder Is the most important person in our business