Business disruption advice
The insurance community must explain the concept of risk management to clients to prepare for the event of a disaster that would disrupt business, according to Paul Dyer, non-executive director of Towergate. He said: “Start by advising clients during normal renewals and Inquire about business continuity plans.”
Customer loyalty No1
Customer loyalty should be number one on the agenda for smaller brokers, according to consultant Andy Chemney. He said the new battleground for differentiating sales was the client experience.
Quality website call
The UK may be at the forefront of web trading but only 10%-20% of businesses boast good trading websites, according to SSP chairman David Rashe. He stressed the importance of a company’s website which he equated to the look and appearance of its office and sales staff.
Arag reveals Quick Quote
Arag Legal Expenses launched its commercial Quick Quote system for UK brokers at the conference. Arag said the online system would allow brokers to generate quotes for commercial legal expenses insurance within one minute.
New Chubb package
Chubb Insurance launched a product aimed at financial institutions. MasterPackage Infinity covers risks such as directors’ liability, fraud and computer service impairment.
High risk of broker failure
One in seven brokers is at risk of failing, according to a re-port from Plimsoll Publishing. The report found that the most successful companies were largely free from debt.
XL enhances D&O
XL Insurance enhanced its directors’ and officers’ product. It aims to provide primary cover or excess and difference-in-conditions cover.