Hiring insurance for the company is key. Even though there are no problems, unfortunately, some of them are inevitable. In these hours, having the insurance can be essential to get the business going, reducing or avoiding losses.
However, did you know that to hire the best service, it is ideal to have an insurance brokerage? In this post, we’ll explain what this service is and why your business needs it. Check out!
What is an insurance broker?
An insurance company is best known to the general public. It is the one that offers the insurance products as well as the coverages, and has the responsibility to bear the expenses in case of necessity of the client, according to the policy.
However, an insurance brokerage is different: it is a company authorized by the competent bodies to represent its clients legally, to make the sale and the commercialization of the insurance and to take care of the fulfillment of what was combined by the policy, performing an intermediation between insurer and insured.
The insurance broker can also be a natural person, who must be properly qualified for this by SUSEP, an autarchy linked to the Ministry of Finance.
What is the role of the insurance broker?
According to SUSEP Circular No. 127, the insurance broker serves as a legal intermediary authorized to solicit and promote insurance contracts between insurers and individuals or legal entities.
In this way, it has a consulting and insurance trade role, acting as an intermediary between insurers and policyholders, representing the interests of the clients, not the contractor (Insurer).
This service is also fundamental to adjust the needs of the insured to the offer of the insurers: which has the ideal profile, which coverage is essential and which is the best cost-benefit.
What are the advantages of hiring an insurance broker?
Knowing the role of an insurance broker, we can cite some advantages of hiring it for a company. Look!
Analysis of the best insurer for the customer profile
There are several insurers that provide good services and offer different coverages. Each one has its own packages and several values, making choosing the best one is not an easy task.
However, a professional can evaluate which insurer fits the profile of the contracting company and which are the most indicated coverages.
It is important to take into account the size of the company, in what area and segments it operates and what the needs of business insurance are. With this profile determined, the brokerage house may seek an insurance company that fits those needs.
By doing so, the cost-benefit will be optimized without the hiring of coverages or companies that will not satisfy the customer’s wishes.
Quick communication with the insurer
This company has the experience to get a quick contact with the insurer. There may be bureaucratic procedures or even difficulty in contacting insurers who always direct them to the official broker of the policy: this is where a brokerage firm makes a difference.
When necessary, the brokerage firm can quickly contact the insurer, requesting clarification of doubts, requiring coverage of a claim or altering what was contracted, through negotiation.
The company that hires the brokerage company will only have to explain its application or what happened, and it will make all the necessary procedure with the insurer.
This saves time for the company, in addition to ensuring that the service will be well done and more secure.
In addition to the agility in dealing with the insurer, the insurance brokerage will have trained professionals who will study and solve various situations.
With this specialization, it is also possible to evaluate the feasibility of a hiring, solve each case individually and provide important information about each coverage or insurer.
The insurance broker can manage and mitigate risks by preventing the policy from having claims. The brokerage house acts in the litigation that in policies like the ones of the health insurance propitiates the legal litigation once the brokerage being specialized. This technical knowledge of the brokerage firm generates savings for the company.
Thus, with the necessary structure, a brokerage firm can solve the company’s problem with the insurer, knowing what paths to take and with whom to talk, always bringing an effective resolution. The brokerage firm develops a series of works and services that go far beyond mere intermediation.
Now that you know why your business needs an insurance broker, be sure to get in touch with Cratchit family to learn more about our services!