Insurance Made Easy
Many insurance brokers provide a free report on current insurances with the sole aim of proving that a) your current brokers aren’t really up to it and b) cheaper premiums are available if you change brokers.
A couple of observations:
- the report isn’t likely to be too independent or unbiased
- it’s unlikely to highlight the good things your broker has done
- a friendly, “partner” insurer will reduce premiums by 10% just to “buy in” the business
- the new policy will include lots of terms, conditions and exclusions
- what has been left out to beat the existing premium?
Our experience and expertise – not to mention our total independence – enable us to go a little bit further than the average broker. We really do provide an audit rather than a negative report on the current arrangements.
Our audits include an assessment on the suitability of arrangements, areas for improvement, analysis of needs against cover, cost comparisons and recommendations for the future. In some circumstances, we might well conclude that a change of broker and insurer is the only option, but in many cases, we will work with your broker to help them achieve the cost and cover improvements we identify.
Our audits also enable our potential clients an opportunity to assess the quality of our work and quantify the future benefits our involvement might bring. From our point of view, this exercise gives us a pretty good idea of how the relationship might work in the future and to ensure the integrity of our “stable” of clients is preserved.
We also provide broker and insurer assessments and manage broker tenders for public bodies, local authorities and places where an independent market view is imperative.
At certain times of the year, the insurance market is a little hectic to say the least. We would strongly recommend our audits take place a couple of months ahead of renewal or to suit a quieter time during the business year. Contact us to pencil in a convenient date.