Covering small business
The imar SME team looks after every type of business that isn’t a trade. Their clients range from very small businesses through to quite large national enterprises, and cover almost every imaginable type of business offering. The one thing they have in common, is that they are looking for expert insurance and risk management solutions that can be provided over the phone.
For Emma Van Sanden, the SME team leader and client manager, one of the main challenges for the team is that almost every phone call is from a different occupancy; a different business niche.
“One of the keys to providing the best solution to our clients is to understand their risks from an internal point of view. By understanding their exposures, we can develop effective insurance solutions that will minimise the financial burden arising from a wide-range of risk scenarios.”
With the resources of Gallagher’s at their disposal, the SME team is able to access data across all industry sectors, while also leveraging Gallagher’s size and buying power to ensure each client’s policies deliver real value.
Annual reviews ensure cover remains optimal
“One of the things we do differently, is that we provide our clients with a review of their policies at least every 12 months, or on a six-monthly basis when we can.
“Rather than just renew a policy, we want to make sure that it’s still relevant; providing the right level of cover; and delivering the best value for money. That’s why it’s so important for us to take the time to develop good customer relationships — to be aware of how their business has changed, or what they’re planning to do over the next year.
“We also keep close watch on any regulatory changes that might impact our clients – such as the new mandatory data breach notifications, or the soon to be introduced Chain of Responsibility laws (which could impact any party in the transport supply chain).
“While there might be similarities in risks across many of our businesses, there are always ones that present a completely different challenge.”
Minimising gaps in cover
The value of working with an insurance broker such as imar, is that an off-the-shelf insurance package may not necessarily provide adequate cover for a business’ circumstances.
“When we look at clients that have simply purchased a standard business insurance package and whose business is reliant on having access to their premises, we often find they have a coverage gaps in the area of business interruption.
“When we examine such insurances further, we’ll often discover that the sum insured is not adequate. This is usually because the client hasn’t really thought about what they have on their premises; what their risks are; and what their exposures might be. That’s where we step in, but at the same time, we ensure that the solution we provide keeps things really simple.”
Underinsurance can also be an issue, and Emma points out that many business owners are unaware that most insurance policies contain clauses that outline penalties for underinsurance.
“It’s our role to educate clients by showing them the implications of what could happen, and then making sure their insurance policy provides effective protection from that sort of risk.”
Everything taken care of. Including claims
In the event of a claim, the imar SME team facilitates everything for the client.
“We have a streamlined system for direct settlement by insurers (such as QBE) for many types of claims, and also have access to the Gallagher national claims team, who ensure the client enjoys the fastest, most effective settlement.
“The most important thing about our SME team is that we really pride ourselves on getting the best solution for our clients. At the end of the day it’s about making sure the client is protected and can survive the financial impact of a covered event.”
Find out more
For details on how imar can provide you with a total solution for all your building-related insurances, call us today on 1800 284 627, or pop your details into the form on our ‘Get a quote’ page.