Our role as brokers is to work closely with our clients to advise how best to present their business to insurers. This presentation is essential as it provides key information over and above any questions found in a proposal form and is an opportunity to demonstrate to insurers that you run your business with the proper controls in place to minimise risk and reduce the likelihood of claims.
In my personal view, the ideal presentation will cover topics such as the financial performance and growth strategy of the firm, the core business and typical client base – for example, is this a local business or do you accept national or international business? – and it is always important to provide an overview of your current claims position. This should include a commentary on any paid or larger outstanding claims and whether these notifications have led to any procedural changes. Basically the more information you can provide on the operation and risk controls within your business the more discretion insurers will have on their pricing.