Insurance Executive Peter Harris Explains How He Grew CBL Using Innovative Strategies

Peter Harris is an international businessman who resides in Auckland, New Zealand. He began his career working as a chartered accountant. In 1989, he became the finance director and shareholder of Boston Marks Group Ltd. After a four-year stint at General Capital Ltd. as its chief executive officer, he joined CBL in 1996. He was named CEO and managing director of the insurance firm in 2007.

Under his leadership, CBL became the largest insurance firm based in New Zealand. It had clients around the world, including Malaysia and France. Its financial health was rated as A-(Excellent) by the international rating frim AM Best. CBL was earning more than $400 million a year in 2018. Peter Harris was recognized with multiple accolades, such as the EY Awards naming him “Entrepreneur of the Year.”

In 2018, French insurers unfairly targeted CBL. Peter Harris explains this resulted in the Reserve Bank of New Zealand (RBNZ) investigating his company. RBNZ assigned an inexperienced liquidator to the case, which resulted in Peter Harris and his fellow shareholder Alistair Hutchison losing what they had built up over the years. Peter Harris has been working to make sure all of his company’s residual creditors and policyholders are taken care of.

Earlier in his career, Peter Harris realized that a great profit could be attained by taking on more risk than most banks. He saw the risks could be mitigated through innovations. This included surety solutions, guarantees, and credit enhancements. He put the plan into action in 1996 after buying an insurance company. It was a small business, but Peter Harris and his business partner saw enormous potential.

Peter Harris recalls that they realized they would need to expand internationally to be truly successful as New Zealand had a population of just four million people. They sought clients and opportunities overseas, including in Asia and Europe. This coincided with the rise of the internet and email making it far easier to do business on a global scale. He put the long-term good of the company over short-term results, a strategy that paid off in two years as the company became profitable and had tremendous growth.

Read more here http://www.cblinsurance.com/about-us/board-of-directors/

The contribution of Graeme Holm towards Improving the Lives of the Australians.

One of the people who has contributed to the transformation of the financial sector on Australia is Graeme Holm. All through his career life, Graeme had been working in the largest banking institutions in Australia in various positions. This made it possible for him to understand the plights of the customers in the banking sector, something that challenged him to invent solutions to the problems. He had been feeling that the customers were getting way low-quality services than they deserved and hence he felt that it was unfair to them. The main category of customers who suffered was from the credit sector. They were often faced with the challenges of interpreting the terms of the contracts, and in some instances, they could even find it difficult to repay the loans that they borrowed. Not because they didn’t have enough money, but because they lacked the correct guidance regarding the balancing of their financial obligations.

 

This idea challenged Graeme Holm to find a solution for the customers so that they could regain their financial freedom and improve their living standards. This was when he decided to form Infinity Group Australia as a substitute to the traditional banking system that extorted the common Australian citizens. With Graeme was also his wife, Rebecca, who contributed greatly to the establishment and success of Infinity Group. One objective that remained firm in their hearts was to provide financial guidance to the borrowers so that they could get a full comprehension of the financial terms and the repayment procedures.

 

After the commencement of service, Graeme Holm recruited a team of financial professionals who could guide the customers on the techniques of managing their finances. The team trains the clients on the best ways to budget their income so that they can manage to meet their debt obligations as well as the service their loans. Since the training service was introduced in Infinity Group Australia, the clients can enjoy the aspect of financial freedom since they can manage to repay their debts without pressure from the banking institutions. They are also in a position to manage their income in such a way that they can afford to meet their debt obligations together with the family obligations. This way, they are happy with their families and also in their workplaces.

 

The customer reviews at on the Infinity Group Australia’s website indicate that the customers are more contented with the level of service they are offered by the company compared to the other banking institutions. Reports also show that the customers of the company pay their debts five times faster than the borrowers from other Australian banking institutions. A recent report indicated that 100% of the borrowers of Infinity Group Australia manage to repay their loans within the stipulated time. However, those from the traditional banking systems are on record having difficulties in repaying the mortgages within the stipulated periods. This shows how effective the initiative of Graeme Holm has been towards improving the lives of the Australians. In the same report, the customer satisfaction for the customers of Infinity Group Australia ranked higher than those of any other financial institution.

Learn more : https://about.me/graemeholm