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   Home  » Why use a Broker

Why use a Broker?

Additional Information               

Because :
1. Insurance broker represents the insurance buyer and services the interests of insurance buyer, and not the insurance company and the
remuneration of insurance broker is paid and borne by the insurance companies. There is no additional cost to the insurance buyer for placing business through insurance broker.

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2. As insurance brokers we have qualified and experienced insurance experts and can arrange insurance covers for our clients at the most competitive premium rate and terms.

3. As insurance brokers we analyze insurance needs of clients, study their existing policies and advise about insurance covers suitable for their establishment to protect their assets and financial interests. Need based insurance covers are also arranged.

4. As insurance brokers we provide a package of services to the insurance buyer, including post-insurance services as well as assisting in submission of claim documents to insurance company. Please see annexure for the range of functions we perform for you as your insurance brokers.

5. As insurance brokers we are governed by code of conduct prescribed by I.R.D.A

6. As insurance brokers we are different from insurance agents. Insurance agents represent a given insurance company, and not the insurance buyer.
Thus, insurance agents sell the insurance policies of a given insurance company, taking care of the interests of the insurance company and not of the insurance buyers.

7. As insurance brokers we are professionals and represent the insurance buyers, i.e. you only, and not the insurance company. As insurance broker we can place the insurance of our client with any insurance company, in the best interest of the insurance buyer. Thus, as insurance broker, we are a single window solution for all your insurance problems / requirements with all insurance companies.

8. Importance of the role of insurance broker in the emerging scenario of ’De-tariffing' :

tariffs especially in fire & engineering insurance have to some extent
restricted the role of brokers regarding rating/terms of risks, but there are various discounts available in tariff rates which are overlooked by clients. Brokers play an important role in securing the discounts by implementing certain suggestions.

Now that the government of India have embarked upon insurance reforms and thrown open the insurance sector to private players, sooner rather than later, the above described administered price mechanism through tariffs will give way to a non-tariff regime, whereby the premium to be charged for any given insurance cover will be negotiated by us as your insurance brokers on your behalf with the insurance company by giving due consideration to various factors like risk exposures, past claims experience, risk improvement measures adopted, etc. On more scientific basis.

Thus, without any exaggeration, we may bring to your kind attention and notice that all buyers of insurance like the private limited / public
limited corporate, statutory corporations of the central/state govts.,
partnership firms, charitable institutions, individuals, etc. Would need to use professional insurance brokers like us because buying insurance through insurance brokers like us is a win-win situation for all insurance buyers.

So, our dear insurance buyers, kindly be aware of the fierce competition amongst the insurance companies for selling their insurance policies to you.

Insurance is a highly specialized subject requiring professionals like us to assist you. Appoint us as your insurance brokers by giving us mandate to negotiate on your behalf, without any additional cost to you. You will derive immense benefits in terms of coverage, premium, etc.

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