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7 benefits of using a reputable broker

May 14, 2020

Risk transfer solutions are increasingly dependent on international rather than local market dynamics. This has caused the risk landscape in the energy industry, of West and Central Africa, to become increasingly complex. So how confident are you that your company is benefiting from best-in-class solutions - and for the right price?
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Here are 7 top benefits to be gained from using a reputable broker:

  1. 01

    Expertise

    By utilising the expertise of a broker, you’ll be secure in the knowledge that your company’s complex risks have been transferred in an effective and compliant way while you focus on business development.

  2. 02

    Financial security assessment

    There are many international insurers in the market. In order to inform clients these insurers are usually rated by global specialist insurer financial strength rating agencies such as S&P, Moody’s, Fitch and A M Best. Working on behalf of clients, brokers will consider the available ratings alongside the type of risk to be transferred as part of the process to help clients select the most suitable insurance markets for each risk.

  3. 03

    Single access point to capacity

    The broker will help clients select the most suitable markets based on the client’s requirements.

  4. 04

    Claims management

    The broker’s goal is to help clients manage and present their claims in a manner which should result in a fair and reasonable conclusion.

  5. 05

    Relationship with the market

    By having a broker who forges and maintains market relationships, you will gain the best available terms and conditions while being navigated through a hard market.

  6. 06

    Contract certainty

    You will have a policy which encompasses the agreed terms and conditions by all parties involved, including African and International markets.

  7. 07

    Risk submission

    The documentation is the foundation for a good relationship with the market. It starts with the risk submission which ensures the disclosure of all material facts and accurate reflection of the risks being taken.

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