Video 3 in our Series looks to bust the myth that brokers represent insurance companies who try everything not to pay claims.
In fact, this is complete opposite to what we do!
At Stellar Insurance Brokers, we ALWAYS represent the interests of our client and we NEVER act on behalf of an Insurer. We work tirelessly to ensure you have the correct policy in place that is unique to you, that best protects your assets at the most competitive premium in the market. At claims times, we fight relentlessly to make sure you get the best settlement outcome offer you are entitled to.
There is a lot that happens behind the scenes to ensure we get the best results for our clients. We know we aren’t the insurers’ favourite broker, and we are OK with that! Our clients are our number one priority: they always have been and they always will be.
One of the crucial things that an insurance broker brings to the table is that they’re the client’s advocate.
Every decision that they make and all the advice that they provide, is done so with the best interests of the client. As a broker, our role is to have access to all insurers and all the products that they have available. And then tailor the product to our client’s needs. So, whether we’re talking about the risk analysis or whether talking about negotiations with insurers at the time we placed the risk or at renewal. Or whether we’re talking about managing a claim. We’re managing it on behalf of the insured, not of the insurer.
As a business owner, there’s a whole lot of pressures on them to run their business. They’re trying to manage staff, they’re trying to manage a customer’s expectations, they’re trying to comply with the law. So, the last thing they need to be doing is thinking about how an insurance company is perhaps not treating them properly or fairly. Our role is always to be on their side. So we allow them to get on with their business and not be concerned about the sort of cover that they have in place nor if a claim occurs, what they need to be doing about it.
Because, our process is, if a claim occurs, you simply make a call to us. Our claims people will then take over the management of that claim. So they’ll negotiate with the insurers to get the best possible outcome. They’ll come back to you with any instructions or further instructions that they may need. Always with the interests of the client at heart. It’s important for us to manage that claim because it’s the underwriter’s best interest to minimize any pay out in the claim. ‘Cause that’s coming out of their profits.
Our role is to maximize any payment in a claim so that our client gets the best possible result. So, if you’re leaving it to the insurer to do the right thing and be fair and be generous, then you’re definitely going to be disappointed.