Headquarters:

31 Aintree Avenue, Mangere, Auckland, 2022

Year founded:

2018

Number of employees:

Phone:

092755888

Email:

info@prestigeinsurance.co.nz

Website:

prestigeinsurance.co.nz/

LinkedIn:

linkedin.com/in/rick-hao-316a2141/

Rick Hao

Director/Commercial Insurance Manager

Leadership

Rick Hao is managing director of Prestige Insurance Broker Services, with over 15 years of experience in the insurance industry. He began his career with IAG New Zealand before moving into commercial broking with Gallagher. Since taking over Prestige in 2018, Hao has focused on growing the business and developing its specialist capability in construction and commercial insurance. He has extensive experience across contract works, liability and complex claims. Combining technical insurance knowledge with hands-on property development experience, he brings a practical understanding of construction risks and is known for his solutions-focused approach and strong relationships with clients and insurers.

Director/Commercial Insurance Manager

Rick Hao

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“We receive a lot of new business through existing clients, industry contacts and other people we have worked with over the years. For us, that is probably the best type of growth because it means someone has had a good enough experience with Prestige to recommend us to someone else” 

Rick Hao, Prestige Insurance Broker Services

“Rather than trying to be everything to everyone, we decided to develop genuine expertise in an industry where we already had a strong client base and a lot of experience”

Rick Hao, Prestige Insurance Broker Services

How Prestige lives up to its name in construction insurance Prestige Insurance Broker Services’ Insurance Business Top Brokerages for 2026 award comes on the heels of a deliberate strategic bet. Rather than pursue a generalist offering, the Auckland-based construction insurance broker chose years ago to build deep expertise in the construction sector. Rick Hao, director and commercial insurance manager at Prestige, says the firm wanted to build genuine knowledge of an industry where it already had a strong client base. Sector-focused growth The decision marked a clear break from trying to serve every market at once. “Rather than trying to be everything to everyone, we decided to develop genuine expertise in an industry where we already had a strong client base and a lot of experience,” Hao says. Over several years, Prestige built its insurer relationships and technical capability specifically around construction risk, concentrating on contract works and liability insurance, an approach Hao credits with sharpening the firm’s conversations with both clients and insurers. He says understanding a client’s business, projects and risks matters more than understanding insurance products alone, a philosophy that now shapes how Prestige recruits and trains its brokers. Client loyalty as business strategy The specialisation has translated directly into growth. “A large part of our growth has come from word of mouth and referrals,” Hao says. “We receive a lot of new business through existing clients, industry contacts and other people we have worked with over the years. For us, that is probably the best type of growth because it means someone has had a good enough experience with Prestige to recommend us to someone else.”

IQumulate invests in education and people, which are vital to attracting new business and talent to the company. “We have long tenures for several of our key staff, including some in leadership positions, and this sound working knowledge of our business, practices and industry provides great insights and a wealth of experience to offer our clients,” says Bastow. “Our new head of sales, Graeme Gordon, formerly manager for New Zealand, joins us in Australia to drive our sales strategy and lead our team to successful outcomes for our clients and our business. We look forward to great things ahead with Graeme as he continues to be active and present in the New Zealand market as well as building sound working relationships and new connections in Australia.” Clients can also expect a lot from working with IQumulate. “Through active engagement with our trusted broker network, IQumulate provides relevant information, education and training content,” says Graeme Gordon, head of sales. “Our clients can expect IQumulate to support their business in several ways, providing an understanding of what premium funding solutions are available and how IQumulate can spread the cost of insurance and help borrowers get the right level of insurance cover to free up their cash flow for other expenses or business growth opportunities. Premium funding is often considered a tool for those who simply cannot afford to pay their premiums in full. While this is certainly a significant driver for many, it is also successfully used by profitable companies who use premium funding to manage their cash flows more wisely or better manage their liquidity.”

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Retention has followed a similar pattern: many long-term clients now treat Prestige as a trusted risk management adviser rather than a contact reserved for renewal time, involving the firm in new projects, contracts and business decisions. Construction is not the whole picture either. Prestige also provides commercial insurance to a broad range of businesses, along with personal, life and health cover. “I think one of our strengths is that we have been able to grow while still keeping a very personal approach to the way we do business,” Hao says, adding that brokers are encouraged to understand the people and businesses they advise rather than treating insurance as a transaction. Making space for the work that matters Prestige is now looking at how to scale that growth further while still maintaining its edge. The firm is exploring ways to integrate AI into its broking workflows, including reviewing policy documents, preparing submissions and comparing insurer terms. “The objective is not to replace the role of the broker,” Hao says. “It is to reduce the amount of time our team spends on repetitive work and give them more time to focus on clients, technical advice, negotiation with insurers and risk management.” For Prestige’s insurance brokers in Auckland, who built the business on referrals and specialist knowledge, that balance between efficiency and a personal approach marks the next stage of growth. 