At Santam, we celebrate the vital role intermediaries play in delivering insurance good and proper to our clients. In a rapidly changing world, you need an intermediary that deeply understands your insurance needs and can guide you through life’s unforeseen challenges. We have been in the business of insurance good and proper for 100 years and have seen first-hand how the expert advice of our intermediaries transform the lives of policyholders and their businesses.
Here are some of the reasons why every client should have an expert intermediary at their side.
Proactive in managing risk
Many intermediaries become experts in niche fields and are therefore able to give you expert advice for your business, farm or personal belongings. With years of experience behind them, they get to know the nature of the activities of each type of business, putting them in the best position to help implement a risk management process for clients - such as putting good housekeeping procedures in place. For example, ensuring electricity and plumbing certificates have been provided, ensuring that alarms are in good working order and eliminating basic fire, flood or theft risks. An intermediary will work with a client to check all the boxes, as well as see that general property maintenance is kept to a good standard - e.g. waterproofing a roof or installing burglar bars or safety gates.
If you own an agriculture business, this is another field where an intermediary can add huge value. Only an intermediary knows the rainfall you received last season and the expected yield for each of your crops. They keep abreast of the latest trends and know which new tech will add value to your operation. They can advise you on everything from drone insurance and legal liability to livestock and safer transport.
An intermediary is the one person who knows the ins and outs of protecting your car and home, from the crime stats for your area to how much you’ll save on premiums if you install electric fencing. Whatever your passion - 4x4 trips, riding your speedboat or investing in a vintage car - your intermediary will be a trusted advisor to help you plan for any type of risk.
Helping you better understand your policy
Insurance policies can sometimes be a bit confusing so it helps to have an intermediary by your side who can not only explain policy terms to you but also point out exclusions to watch out for. An expert intermediary will listen carefully to your needs and help you combat risk in the best - and most affordable - way possible.
Understanding how a business operates
No business is the same, and requirements vary from industry to industry and from area to area. For example, a bakery in a busy urban centre and a bakery in a rural area might both sell bread but they have very different needs and risks.
This is where intermediaries add value by engaging with businesses to familiarise themselves with their unique challenges and the risks they are exposed to. An intermediary will visit a business to do an in-depth risk assessment with a client. From liability to business interruption cover, only a trained eye will be able to tell where weaknesses lie and how to best protect assets with the right insurance cover.
Evaluating risk from all angles
Just as businesses vary considerably by their operations, industry or area, they are also at different stages of growth. An intermediary can assist with any size of business by properly evaluating the business and help establish the correct value of items to be insured. This will assist clients in avoiding the risk of being underinsured and will also evaluate if business interruption cover is required.
They will also determine the turnover value of each type of business, enabling a more accurate underwriting process. It’s about looking beyond physical risks to safeguard a company’s ability to stay in business.
With these insights, a broker can ensure that a business is properly covered so that there are no hassles at claims time, and to streamline the renewal process.
Ensuring a better claims experience for clients
Claims time is crunch time and an insurance intermediary will provide invaluable support throughout the process. As a partner and advocate, an intermediary will work with an insurer on an insured’s behalf to try and speed up the claims process as much as possible. Certain claims can make it an especially stressful time for businesses when they have to provide information and documentation in support of their claim.
This is a time when they will realise why an intermediary is such an essential part of their business advisory team.
Powerful risk assessment with Santam intermediaries
As the market leader in short-term insurance with over 100 years of experience, Santam continues to work very closely with intermediaries, in delivering insurance good and proper to their clients. We offer a wealth of support which includes ongoing professional education through workshops and conferences, constantly innovating technology platforms and offering tailored advice through this dedicated broker blog. We believe that our partnership contributes to building a sustainable South Africa for all.
With the launch of the Santam Risk Assessment app, intermediaries can now conduct assessments in real time, and compile comprehensive digital reports - with all risk data in one centralised space.
To find an intermediary in your area, get in touch with Santam on 0860 444 444. For more advice tailored to intermediaries, visit our blog for useful product-related articles