Solutions for the Insurance Broker

The challenge for insurance brokers and risk management consultants in today’s business environment is maintaining and growing their competitive advantage.  If you are a broker, you will recognise these problems:

  • How to differentiate my services from those of my competitors and to demonstrate the difference to the client
  • Adding perceived value to my client services without also adding substantial cost
  • Meeting underwriter demands for more information without spending a lot more time
  • Managing renewals information that is highly fragmented across thousands of emails and hard copy documents stored in different places
  • Presenting my client to the market in the most professional manner
  • Obtaining the best available premium and terms for my client

The ReSure solution addresses all of these problems

ReSure was developed primarily for risk managers looking for a simple, cost effective solution to the many problems encountered in collecting, managing and distributing risk exposure and asset values information.  It’s important for you to understand how ReSure does this, so we suggest you read about solutions for the risk manager before proceeding further.

How to differentiate my services from those of my competitors and to demonstrate the difference to the client

Because ReSure is a novel concept, brokers who use it and support it will be seen as different from the rest.  ReSure is more than just words about better service – it is a tangible web-based product whose benefits can be readily demonstrated.  Clients understand that you are using state of the art technology to achieve your organisation’s goals of providing them superior service and advice, together with the best insurance terms and price.

Adding perceived value to my client services without also adding substantial cost

The value obtained from using ReSure to manage your clients’ renewal processes is immediate.  For the client, it means less work needs to be done each year, yet the outcome is better.  For the broker, it means that much of the time consuming, error prone manual collating and publishing of renewals information disappears forever.  Moreover, there is no risky capital investment in hardware and software – just a modest fee for the web service.

Meeting underwriter demands for more information without spending a lot more time

ReSure contains a series of templates – we call them Risk Classes – that allow you to add, remove or change the data that is collected.  When you alter a Risk Class template, the changes refect immediately throughout the entire system, so you don’t need to re-design data collection forms or reports.  Risk Class templates can also contain business rules that enhance the quality of the data collected (eg making a comparison between this year’s and last year’s values and warning if they are outside a specified range) as well as definitions and examples to assist the user.

Managing renewals information that is highly fragmented across thousands of emails and hard copy documents stored in different places

Rather than simplifying information storage and retrieval, today’s email systems often make it more difficult by fragmenting the information.  ReSure changes the information model to a database where each piece of information is stored once only, but can be shared by all of the parties involved. It’s simple, secure and inexpensive.

Presenting my client to the market in the most professional manner

The data that can be obtained from ReSure is the starting point for preparing a professional underwriting submission. The data is complete, accurate and up to date.  You can obtain hard copy reports direct from the system, or easily download the data into the analysis and reporting tools that you are familiar with, such as Excel or Access.  If you have more specialised analysis and information needs, our consultants can work with you to develop custom solutions.

Obtaining the best available premium and terms for my client

If you use ReSure, you can concentrate on using your negotiating skills, knowing that everything possible has been done to provide insurance underwriters with the information they need to offer your client the best available deal.

ReSure not only provides you with a major opportunity to differentiate and enhance the service you offer your key clients – it also benefits your own organisation by reducing the work required to manage renewals process.  Key features and benefits include:

  • No more collating hard copy or spreadsheet information
  • No more confusion about which version of the information you are dealing with
  • No more errors transcribing data from the client to broker to underwriter
  • Paperless sharing and distribution of information
  • Download data to assemble professional underwriting submissions
  • Everything needed for risk exposures, values and renewals is stored in one place
  • Use ReSure to publish information such as policy documents back to your client
  • Web service requires no costly investment in IT infrastructure
  • Can be integrated with your existing systems
  • Software can be re-badged to present your company’s image
  • Software can be run in-house as an alternative to the web service
  • Special pricing for bulk use of the system

If you would like to know more about how to deliver this exciting new concept to your clients, please contact us