Helping your business to reduce costs and make sure you are covered

Is your business insurance up to date? It’s vital to review your insurance program regularly – especially if you’ve been with the same broker or insurer for several years. You can have an insurance review anytime of the year. The review does not have to be completed around your usual renewal date; in fact completing it away from this period removes the pressure to make a decision.

What is it?

Confidential Review

As your business changes over time, your risks, priorities and needs will change as well. Many brokers only focus on comparing premiums and although ensuring good financial value is important, it’s vital that the cover is comprehensively reviewed as we regularly encounter serious gaps in new clients’ previous cover. Our confidential insurance review can give you that confidence.

  • Your business is suitably protected

  • Your cover is relevant to you

  • Any potential gaps in cover are identified

  • The premiums you are paying offer good value

  • Excessive commissions are not being earned by your current provider

The process

Undertaking a WAIB review

We’ll sit down with you to understand your business in more detail, including your internal and external operating environment. This gives us an understanding of the risks you face.

With considerable experience of arranging insurance in several different industry sectors, we can recognise the most appropriate commercial insurance solutions for our clients and those considering changing their programme.

We will also collect the following important data to enable us to compile a detailed report:

  • Your report and accounts
  • Your insurance policy schedules and broker cover summary
  • Your claims history (for the last 5 years where possible)

Our experienced insurance professionals will

  • Analyse your documentation and the adequacy of your cover in relation to the risk exposures you face including all policy terms and conditions

  • Benchmark your existing premiums and determine if they are competitive compared to other providers in the marketplace, or if their value could be improved further

  • Produce a report with recommendations for improvement if required. Our report will consider insurable and non-insurable risks and we will comment and deliver recommendations in both areas. Insurance is only one solution to risk mitigation

  • Meet with you to present our report and recommendations where we will provide an implementation plan with timescales to address issues identified

  • Remember, because the review is confidential, it should not affect the relationship with your current provider.

The benefits to you

  • Our approach changes the focus from merely looking at cost and concentrates on analysing how your risk exposures match against your current insurance arrangements

  • Identify the robustness and adequacy of your current insurance cover against the risks identified

  • Tailoring your programme to your needs will help you to get best value especially in an insurance market that remains competitive with premium savings readily available.

  • It gives you the opportunity to benchmark the premiums

  • The relationship with your current provider is maintained and not detrimentally affected

  • Best of all it’s free

We hope our approach will demonstrate our value to your business as a credible and expert advisor in the provision of insurance and risk management solutions.

Contact us

Get in touch!

It’s easy to contact us, so if you would like more information or to discuss any aspect of your insurance requirements, get in touch using any of the contact details below.

Redlands
Cliftonville
Northampton
Northamptonshire
NN1 5BE

T: 01604 904 001
E: hello@waib.co.uk

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