Source: We're showing love to our brokers this month. Photo courtesy of UndoneStar
“Love – and not just the romantic kind – is about caring, trust, respect and going the extra mile. Ultimately, it’s about relationships between people, and at Hollard Broker Markets we cherish the relationships we have with our clients and our broker partners,” says Hollard Broker Markets EXCO member Justin Naylor.
“It is brokers who understand their clients’ needs best, who make sure that they have the best possible coverage – and should they need to submit a claim, ensure that it is handled promptly and fairly. At Hollard Broker Markets, we look for reasons to pay out claims, and brokers help us to fulfil that promise to our policyholders.”
He continues that the insurance industry has undergone dramatic changes in recent times – but it is still the case that nothing beats the relationships, personal attention and expertise that brokers offer clients. “Brokers are as relevant as ever to our industry – if not more so – and here at Hollard Broker Markets, we love them for the great work they do in the short-term insurance space,” he states.
Speaking about the role they continue to play in the insurance industry, several well-known brokers also use the language of love, with words such as “trust”, “relationships” and “care”.
Seamus Casserly, of First Equity Risk Management, says, “A broker provides the client with an independent analysis and identification of risks, and a cost-effective solution to deal with the risk identified. A broker designs and tailors coverage to deal with issues that could cripple a business, and secures a reasonable premium for transferring this risk.”
Casserly continues: “There is a significant trust relationship between the broker and client that transcends normal business practice. Therefore, the duty of care on a broker is onerous and to be cherished.”
Inscon Risk Management Service’s Richard Hood says, “Brokers establish a personal relationship with their customers. They’re trained to ensure customers receive fair and timeous claim settlements. They also have the ability to choose from a wide range of products, and select the right insurer and product for the customer.”
Dave Wallington, of Hamtern, says although the industry is changing and the consumer sees the price of going direct as a saving, there is still a lot of value in having a broker. “When there is a problem with your insurance, a broker can step in and solve it. But when you go direct, you are on your own.”
Insurance Zone’s Alan Johnston weighs in about the changing industry: “Brokers who have managed to weather the changing landscape have become more robust, able to focus on practice building, being compliant and providing a professional service to their clients. Our entire industry would simply not survive without them.
“When a client – with substantial assets or a business owner – has suffered a loss, they contact their broker. The broker’s role becomes an invaluable connection between the client and the insurer. The broker is able to handle the event and together with the insurance provider, ensure the entire procedure is above expectation,” Johnston says.
Rhett Barker, of Barker Insurance Brokers, says, “A good broker will always bring the client and insurer closer to each other, and ensure that the cover is appropriate and correct at all times and that claims are settled in a fair and flexible manner. Insurance is a complex subject, and a broker’s role is also to guide clients through the ‘rough seas’ and ensure that their best interests are looked after, every step of the way.”
With all of this belief in the power of relationships, there is possibly a strong case to be made to rename 14 February “Insurance Brokers’ Day”.
