Our Services

Authorised and regulated by the Financial Services Authority for Insurance Mediation Activities. The Financial Services Authorities Register can be accessed through www.fsa.gov.uk/register/

Why the Insurance Manager? - FAQs

I've got a good commercial insurance broker - why do I need The Insurance Manager?

We would expect you to be happy with your broker, otherwise you would have done something about it, but our services complement theirs. We're not looking to replace your brokers but work with them to ensure you get the best you can from the insurance market.

Isn't this what brokers do?

Historically, yes. However, the majority now only place business with selected or "partner" insurers and some are even owned by insurance companies. This doesn't affect the quality of their work but does influence the choice they can offer and thus the neutrality of any recommendations. For a more objective view of the market, it then becomes necessary to involve another broker to obtain quotes from excluded Insurers.

So what's the difference between you and an insurance broker?

Put succinctly, brokers sell to you and we buy for you.

We use our expertise and market knowledge to obtain the best terms - cover as well as cost - from the whole insurance market including those Insurers who do not deal with brokers.

Is that it?

That's just the start!

How much time do you and your staff spend on insurance related matters during the year? When you finally get your insurance policy, is it correct? How do you know? Get much help with claims? What are the insurance and cost ramifications of that new contract? Are you left to face insurance surveyors on your own? Has the cold calling broker anything to offer?

Imagine a desk in the corner of your office manned by your own insurance experts who could take away all the hassle related to the administration of the insurance portfolio and provide assistance to other departments in the firm without managers worrying you. You might even have a couple of ideas of your own to add to our few examples.

You decide - it's your own insurance and risk management team.

I can begin to see the benefits of The Insurance Manager but what about the costs?

The commercial insurance market in the UK is very competitive. A change of Insurer is likely to produce a 10% saving on premium merely because Insurers are desperate for new business. The same saving will be achievable from Insurers keen to keep good quality business. Add to this the rebated commission from brokers who recognize the benefits of working with The Insurance Manager and you now have a sizeable cost saving. Our fee will generally be less than the saving you make so, effectively, you get our unique services for twelve months yet still save money.

Surely, this must upset brokers?

In some instances - yes. The more astute brokers see this as a chance to reduce their overheads on client servicing and, if they perform, an opportunity to obtain more business. Others are fearful of dealing with a client that knows as much as they do and is in a position to identify any weaknesses or dubious broking practices.

What happens if I have a claim?

This is where we really are able to prove our worth. We adopt a fairly aggressive approach to insurance claims which reflects our commitment to a long term relationship with our clients. Brokers do tend to allow Insurers to get on with it and step in if you moan enough. Our approach is to be involved from day one with practical assistance and the ability to maximize the benefits of the insurance you have paid so much for.

But my broker provides lots of other services...

To whose benefit? Don't forget, we work for you and will assess what you actually need and whether your insurance broker can actually deliver this. Too many are encouraged to sell various "add ons" to meet sales targets. Additional covers or services may well be necessary but there's a massive market out there so better and cheaper alternatives are likely to be available.

I've done all the things I should do but my premiums stay the same

We argue that there should be a link between good risk management and the premium you pay for insurance cover. We will make sure this happens but is there any incentive for your broker to push this if their commission reduces as a result? We will structure the insurance programme to obtain the maximum benefit of all your good work.

OK, almost convinced but what next?

We would suggest taking advantage of our comprehensive insurance audit which, at the very least, will show your brokers are indeed doing their job. We will analyse current arrangements against needs and also make sure you're not paying too much for your cover. We know we can make a difference but accept we need to persuade you that we have something to offer. To prove a point, we do not make a charge for our audits and reports.