Insurance is central to your business resilience
Unforeseen events will happen, and without the right planning in place, your business can find it difficult to re-establish itself quickly, or even at all. Strong, well-thought-out insurance will ensure your business is equipped to bounce back.
Insurance can protect you against:
- Financial loss
- Physical/material loss
- Business interruption/loss of income
- Additional costs of doing business
- Third-Party claims against you, for example for compensation when you were at fault
- Legal costs
Every business has different insurance needs
It’s the broker's job to help the client assess where the risks are, and find the right insurers to cover them.
This involves discussion and fact-finding upfront, getting to know your business so that we can present your case to the insurance markets so that insurers will be interested to offer you insurance for the most competitive price.
In the insurance world, this is called “marketing ” and it is a big part of what a broker does.
At times there may be no insurers offering exactly what you need: in this case, we are able to design insurance products ourselves and negotiate with insurers to underwrite them.
Bespoke product design and innovation are very much part of the day-to-day work of Howden consultants (especially those working with our larger clients who often have very complex risk portfolios).
Where other companies might just say no, we work out how it can be done.
What does an insurance broker do? 7 ways we represent your interests
1. Defending your claims record
People can and will make claims on your insurance against you, which will affect later premiums. We defend your interests with knowledge, experience, charm and backbone.
2. Managing your reputation
Got claims on your track record? We work with you to represent your case to insurers in the best possible light.
3. Access beyond the mainstream
Insurance you see online is the tip of the iceberg - we access a broad range of global and local insurers, not just the big names you see on TV.
4. Cutting costs through cutting risks
Helping you learn from others’ mistakes with up-to-the-minute thinking on risk management trends.
5. Claims advocacy
Sometimes claims pay-outs aren't automatic and require some technical debate; we support you through the claims process, every step of the way.
6. Helping good decision making
Explain, advise, simplify; we you show the difference between your best options, in language you understand.
7. Making doing business safer
From balance sheet protection planning to employee wellbeing programs and cybersecurity, our advice protects your long term prosperity.
Why we don’t dive in to the hard sell
Our service proposition is about more than “insurance products.”
Insurance is a service – assistance in restoring your business to prosperity when you’re in trouble. And like all services, some providers are better than others.
Because of the long list of troubles you can run into, buying the right insurance can get complicated.
As such, it’s got much in common with the procurement of a major IT project.
But a lot of companies treat insurance like re-ordering printer paper.
When it’s running low, they buy some more – the cheapest they can find.
Howden consultants, always on your side
A broker is a consultant who manages the procurement and fulfillment of insurance, right the way from scoping out project needs, to handling the claims process.
What’s the key difference between an agent and a broker? We're always on your side.
Because you’re our client. Our business model is wholly dependent on client loyalty.
We always look to meet your precise needs as a buyer, not the needs of the seller.
We will never try to fit clients to a product.
There is no such thing as a standard client so we don't have standard solutions.