This is how it all started
- Before the incorporation of Interactive Insurance Brokers, we conducted a simple market research to define the level of expectation of Clients and Insurance Companies and asked them both: “Tell us about the Insurance Brokerage Firm That You Would Like to do Business With!” Clients’ said:
- We want the Broker to represent us and not the Insurance Company. The Broker should look after our interest.
- We need to see the Broker more often during the year and not only on renewal.
- We expect the policies to be well designed and to be reviewed regularly to avoid any unfavourable situations. Reasonably Priced Policies.
- The Broker should follow up on our claims.
- The Broker should update us with new Insurance-related issues in the Market e.g. new laws or new products and services.
- We want to work with friendly, reliable, qualified, experienced, proactive, empowered and passionate TEAM. No misplaced or lost documentation.
- Prompt action without delays.
- We want to make sure that once premiums are paid to the Broker it is immediately remitted to the Insurance Company.
Insurance Companies said
- The Broker should be licensed by the Ministry as Insurance Brokers.
- We want to deal with a Technically Qualified Team holding Academic Insurance Accreditation. Professional, Empowered and Friendly Team.
- Prompt premium payment, and not to use Insurance Companies’ premiums.
- Forward the quotations to clients without any “unapproved changes.” Any change in the quotation has to be approved by the Insurance Company first.
- Powerful IT, Accounting and Documentation System for easy reconciliation.
- Service Oriented Broker, to offer a state-of-the-art Customer Service to keep customer satisfied. The Broker should be a Realistic negotiator.
- Build a relationship between the client and the Insurer.
- Avoid as much as possible moving the business to another Insurer.