THE ROLES OF AN INSURANCE BROKER (2)

We do assist our prospective clients to handle genuine claims, ensure the financial interest of our clients are well protected when it comes to claims settlement

1. Selection, Recommendation, and risk placement with insurance companies: To ensure the financial interest of our clients are well protected when it comes to claims settlement, we provide professional advice, make objective recommendations, and place your risks with insurance companies that have appetite and financial capacity for a particular class of insurance.
2. Premium Negotiation: Through technical capabilities and business relationships with insurance companies, we do negotiate for effective premium reduction without any compromise to the scope of cover.
3. Claims Management: It is our duty as a broker to handle your claims and ensure effective settlement. When there is a claim, Advocate Claims Team (ACT) work with the client proactively, provide needed assistance in arranging necessary documentations and follow through to make quick and adequate settlement possible.
4. Renewals: We are responsible to send the renewal notice to our client, at least 45 days before its expiry to know possible review of the portfolio and to guarantee the policy did not lapse.
5. Client Services: We are responsible to our customers’ enquiries, meeting their expectations and making them happy through quality service delivery; before, during and after the purchase of an insurance policy.
6. Tailor-made Insurance Programme: We do create tailor made insurance scheme for our clients to suite their specific risk exposures and reduce premium payout whilst enjoying maximum insurance protection.
7. Policy wordings review: We do review policy document received from the insurance company and demand for an endorsement where it is required as a pre-loss initiative to protect our clients’ interests when it comes to claims.
8. Risk Management Services: We are familiar with our clients’ organization risk exposure on each sector of the economy. So, we carry out risk identification, evaluation and make recommendations on the suitable risk control approach.
9. Insurance Audit: Basically, once appointed as a broker and the current insurance documents are made available to us, our technical team will carry out audit of insurance portfolio of a new client. This is to determine if the premium is too high, the scope of cover is inadequate and to know if a particular clause in the document is potentially inimical to the client’s interest in the face of possible claim occurrence. Therefore, necessary recommendations would be made to the insurance company accordingly.
10. Education, Training & Advisory Services: We do arrange relevant trainings for our clients – especially the drivers of logistic companies where they have fleet of vehicles. We educate the insuring public on our social media platforms to create awareness and knowledge on insurance which will enable them to make relevant informed decisions.
11. Claims recoveries: Leveraging on our strong technical and experienced professionals, we do assist our prospective clients to handle genuine claims where they have lost hope of recovery from the insurance companies.
12. Product development: As a professional Insurance Broker, we can develop a new policy to meet certain discovered risk exposures.