Does the insurance broker have a good relationship with clients?
Everything a broker does to look after their client, builds their reputation. Since they don't have the funds to advertise, brokers rely on clients to build their reputation by word-of-mouth.
Is the broker efficient with client communication and renewals?
Many clients only see or hear from their broker when they are signed up, when the policy is renewed or when the lodge a claim. Some clients don't even know who their broker is, causing them to contact their insurer directly which in turn can cause confusion. A good broker will offer a renewal service and update cover at least annually or ons special events like a child turning 18 or marriage. A broker should send out a newsletter or letter or talk in person to their client at least three times a year, not only to introduce them to new products, but also to resell themselves to the client.
Is the broker knowledgeable of the industry and the products?
One of the major causes for a client's unhappiness is a claim that is insufficiently covered or where it is not covered at all. Brokers are paid to analyse their clients' needs and to choose an insurance company that will provide the right products and/or price for the client's needs. Refused claims are often the result of a broker who had insufficient knowledge about his clients.
How knowledgeable is the staff working for the broker?
When it comes to maintaining your portfolio and providing support during claims, a broker's staff is more important than the broker. As a potential client, its necessary to meet the the staff to make sure that they are trained, qualified and enjoy working with clients.
Does the broker have a good claims service?
Nothing is more important than when you claim as this is when opinions of brokers and insurance companies are formed. Your broker should manage the entire process and deal closely with the insurance company.
Does the broker have a good relationship with insurance companies?
A good broker will build a solid relationship with the insurance companies they place their clients with. The ability to get the best service and support from the insurance company's staff is important as the service they deliver determines the impression you have of your broker.
Does the broker have professional indemnity cover?
Short-term insurance brokers are not required to have professional indemnity cover in terms of the FAIS act, they do have to tell whether or not they have it according to the terms of the Policyholder Protection Rules. Using a broker who has professional indemnity cover is important because it gives you protection should your broker have been negligent in dealing with the insurer on your behalf.
|
