The value of using an insurance broker

Using an insurance broker (see the video below) should be an obvious choice when it comes to getting the best cover for your business.

However, not all SME businesses are aware that brokers act as the independent voice of the customer, have access to a wide range of products they can select from to match a clients’ needs, and can provide comprehensive claims support. For all businesses, but particularly for an SME, who has so many other things to think about in their business, the added value of building a relationship with your broker can bring large benefits.

They get to fully understand your needs and are then able to provide invaluable advice in terms of protecting your business.

A recent report ‘Insurainsight 360 SME Insurance’ has demonstrated that many SMEs see demonstrable value from their broker.

Highlights include:

  • 72% of SMEs surveyed believed that brokers get the best rates for their insurance
  • 77% of SMEs noted that brokers offer vital advice
  • 82% of SMEs would like a one-stop shop of all their insurance needs

Worryingly 56% of SMEs surveyed admitted to not fully understanding what insurance policies they should hold. 71% of SMEs felt that the insurance industry uses too much jargon. Without the help of a broker to identify and explain the risks they face, these SME businesses are vulnerable to being significantly underinsured.

Brokers are independent and knowledgeable; available to handle complex insurance needs and claims; provide a one-stop insurance shop; provide local and specialist service and can add significant value to the insurance equation.

Please get in touch with us and we will give you a free review of all your insurance needs with a view to showing how we can add value to your business. We help by understanding how we can protect your business and telling you want you need, all in plain English.

Insurainsight 360 SME Insurance report, Willis Towers Watson
Zurich, Future of Broking: Articulating the value of a broker