In this, article we are going to tell you about the advantages of contracting company insurance with a specialized insurance brokerage.
What is an Insurance Brokerage?
An insurance brokerage is a company formed by a group of professionals who act as mediators between insurers and clients.
An insurance mediator can be a natural or legal person who advises clients on insurance matters.
Analyze your situation and needs and, based on an exhaustive analysis, recommend the best insurance product.
He is the one who is in charge of analyzing the risks to which you could be exposed and the economic consequences that you could find along the way.
Brokerages are completely independent from insurers. These are on behalf of the client, they offer different options that fully adjust to the needs in question.
The functions of the insurance broker are always related to facilitating all the client’s efforts:
- Understand customer needs and recommend the best options.
- Take care of all the paperwork and procedures in the event of a claim.
- Management in case of change of insurance company.
- Guarantee that all policies are paid within the agreed deadlines.
Types of Insurance Mediators
Depending on the type of relationship that the mediator maintains with the insurance company, we can find that there are different names and characteristics:
Agents: Are insurance experts who may or may not work exclusively for an insurance company. In this sense, we can find exclusive agents and linked agents, who work for various insurance entities.
Bancassurance operators: They are professionals who work to develop the distribution networks of credit institutions. Like agents, they can also work exclusively with a single entity or provide their services to several entities.
Brokers: These experts advise clients independently and impartially. This means that they do not maintain exclusivity with any insurance entity.
The advantage for clients of having brokers is that they offer a wide range of products and services.
Advantages of Contracting through a Brokerage
Do you want to know the advantages of taking out your insurance through a brokerage? Below we reveal the 7 most important benefits.
1. Mediation between the company and the insurance company.
Insurance Brokers are independent mediators who act on their own, although, of course, their activity is subject to a regime of administrative control and framed by strict regulations.
The insurance broker will be the one who mediates in favour of the interests of your company in case there is a problem with the insurance contracted.
Imagine if the procedures were complicated in a claim or differences arose with the insurer, in these cases you would have a single interlocutor for all your procedures and procedures with the insurance company.
2. Tailor-made insurance plan for your company.
An insurance brokerage for companies will advise you personally in the design of a Comprehensive Insurance Plan for Companies.
A completely customized plan according to the needs of your company, comparing prices and configuring the best offers on the market for you, as well as the convenience or not of insuring certain risks.
3. Personalized attention in the event of a claim.
In the event of a claim, the insurance brokerage provides assistance and personalized advice. In this way you will know what you can claim from your company, the compensation that corresponds to you or the coverage limits, among other aspects.
This is one of the advantages most appreciated by customers, since it allows you to save a lot of time and effort that you would otherwise lose on claims and procedures.
4. Independence from insurers.
The first thing you should know is that a business insurance brokerage is an independent figure and is not linked to any particular insurance company, unlike other figures such as the insurance agent.
A brokerage works with several insurance companies independently, so it can always offer you a wide variety of products according to the needs, budgets and characteristics of your company.
5. Watch over the interests of the insured.
The main function of the insurance broker is to act on behalf of his client before the insurer, always looking out for his interests. For a brokerage, the client is always your company, and for this reason the services they provide are focused on defending your interests.
6. Expert professional knowledge.
An insurance broker for companies has extensive experience and very deep knowledge of insurance products that allows them to provide highly specialized professional advice.
In this way you will receive advice on all the important aspects and details that are most convenient for you, taking into account the needs of your company.
To do this, it analyzes the risks to which the company is exposed and the economic damages that it could face as a result of an accident.
7. Service at no additional cost to your company
Hiring company insurance with a brokerage does not have an extra cost. Keep in mind that brokers or brokerages make their profits through the income of insurance companies.
They do this through brokerages, a term that refers to the professional activity carried out by insurance brokers.
In other words, the insured will not pay for the efforts made by the brokerage and your insurance premium will not increase. Although sometimes the brokerage can agree with the client to pay mediation fees.
Even so, this cost will be minimal in relation to the discount you can get. And it will always be more advantageous to contract company insurance with a brokerage.