Hey brokers, don’t get left behind

Posted by Benedict Stewart on Mar 5, 2019 10:21:51 AM
Benedict Stewart

Don't get left behind-1

Business owners are in charge of their own safety net. But brokers know that business owners need advice from a competent financial adviser to ensure they have appropriate cover for their individual situations. In the old days the quality of the advice was enough to distinguish a good broker from the pack in the eyes of their clients.

Not so in today’s tech-driven world. 
Technology is changing the face of most industries around the world, and the insurance sector is no exception. Software generally is making it easier than ever before for clients to get advice, purchase insurance, and process claims. 
Providing bespoke advice for clients’ businesses is the base expectation for brokers. So what will differentiate your brokerage from all the others out there chasing the same dollar?
The key is to use technology to your advantage. It’s a simple principle jump on the wave or the wave will pass you by.
Some brokers, who are already riding the new technology wave, are providing supplementary services to help clients actually lower their risk. The key idea is that insurance is just part of the solution offered by brokers and financial advisers.
How are they doing this without using more of what Steve Jobs describes as the most precious resource we all have time.
Let’s look at an innovative solution that specialist underwriting agency Delta Insurance has implemented to boost its market share. 
Focused on making insurance easy and accessible, Delta has teamed up with HR and compliance company Dacreed to offer existing Delta customers a unique risk management solution focused on everyday business risks.
The Dacreed HR and compliance platform is designed to train staff on key areas of insurable risk that impact businesses. The modules include:
  • General business crime
  • Cybersecurity
  • Employment
  • Fraud & financial crime
  • General liability 
The best part is that Delta clients save money for improving their risk profile!
It costs 5% of their existing Optima policy annual premium to sign up to Optima Plus (the value-add Dacreed risk management solution). However, when the client organisation completes all the Optima Plus modules, it receives a 10% rebate on its existing insurance premiums on renewal. This means the client saves a net 5% on annual premiums. Simple. 
The Dacreed solution also gives brokers another point of contact with their clients during the insurance year rather than being restricted to ‘renewal time’. 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. 
With Dacreed, Delta brokers are improving their service to their clients. And raising their own profile. A virtuous circle.
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.
So don’t get caught in the shallows. Brokers who ride the wave will help make their clients’ businesses more resilient, secure and cost-effective than ever before while securing their relationship as a key adviser
jump on the technology wave!
Using Dacreed’s platform you can offer your clients exclusive insurance benefits they won’t find anywhere else.



Topics: Insurance premiums, Business Management, Software

Proactively train your staff in AML/CFT

With the Dacreed online compliance training system you can:

  • assess your team’s knowledge, application and retention of AML/CFT training
  • keep track of your team’s completion dates and completion rates
  • tailor the training for different employees depending on their roles and tasks