Insights

Revealed: how innovative insurance brokerage firms are using Dacreed’s platform to boost market share

Posted by Tim Larkin on Jan 31, 2019 12:05:58 PM
Tim Larkin
How innovative insurance brokerage firms are using Dacreed’s platform to boost market share-1

Technology is changing the face of most industries around the world, and the insurance sector is certainly no exception. Software generally is making it easier than ever before for clients to get advice, purchase insurance, and process claims.

Dacreed is a risk management platform designed to help clients reduce and manage their actual business risk. It’s an add-on risk management solution used by clients to supplement their insurance policies.  Already, leading brokers are providing the platform to add value for their clients.

Not so long ago, insurance was considered the main pillar, if not only pillar, of a company’s risk management strategy. Insurance, while a pivotal part of any risk management strategy, is only an ambulance at the bottom of the cliff. It does nothing to prevent an unexpected event. Nor does it eliminate risk completely.
 
However, with the advent of new technology, smart brokers are now able to provide supplementary services to help clients actually lower risk. Dacreed reduces a client’s risk profile by raising staff awareness of key issues. The greater the awareness, the lower the client’s risk profile. Delta Insurance is NZ’s first underwriter to reduce premiums for clients that use the Dacreed platform to manage risk. It’s a win-win-win scenario for the underwriter, broker, and client. Here’s how the platform is helping to deliver these valuable outcomes:
 
 
1. Remote interaction with clients
The Dacreed platform keeps brokers in close contact with their clients. Brokers have their own login to the platform. With the click of a button, they can invite clients, review their clients’ progress and determine eligibility for a premium reduction. 
 
2. Measuring risk awareness
The platform is designed to measure and raise each staff member’s awareness of key risk areas related to their insurance policies. Training content is specifically targeted to each staff member’s specific job role.
 
3. Information sharing
Once the client has completed the risk management process on the platform, it is shared with the broker and underwriter who then determine eligibility and process a premium reduction, usually upon renewal. The information sharing is efficient and low-cost, ensuring that clients get to keep more of the savings in their own back pocket.

 
The Dacreed platform reflects a broader trend towards risk management in the insurance market. The key idea is that insurance is just part of the solution offered by brokers and financial advisers. If clients can better manage their risk up front then they can benefit from lower risk profiles with wider and more comprehensive insurance coverage, lower premiums, lower excesses or a combination of these that best suits their requirements. Brokers that embrace this sea change will help make their clients’ businesses more resilient, secure and cost-effective than ever before while securing their relationship as a key adviser
 
 
Hey brokers - make your clients an offer they can’t refuse
Using Dacreed’s platform you can offer your clients exclusive insurance benefits they won’t find anywhere else.

GET STARTED

 

Topics: Software, Insurance premiums, Business Management