4 Examples of How the 'A' Team Delivers Client Value
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When we think about insurance and risk management, one often thinks about an agent or broker negotiating the best program with the insurance companies, coordinating loss control or reporting a claim. The client-broker relationship should be much more than that.
I’d like to share a few examples of how the ‘A’ Team has taken the work of an insurance broker to a whole new level:
- A school consortium had never assessed their exposures to various flood zones and requirements for National Flood Insurance Program (NFIP) coverage. Prior to taking their account over from a large national brokerage, they were severely uninsured for their exposure. Our team conducted a flood analysis where we obtained Federal Emergency Management Agency (FEMA) flood maps, toured campus locations and identified areas for improvement. We’ve now hired our own surveyor to determine the flood elevations. This will result in better negotiations when obtaining NFIP insurance coverage to meet excess carrier attachment requirements and the proper purchase of excess limits.
- A client’s claim involving seismic activity caused confusion as to the extent of damage and whether it was indeed caused by a seismic event. Our team hired an outside independent construction management company to review the adjustment work completed by their insurance company, hired consultants and engineers. Through this effort, we were able to provide our client with a better scope of work and costs for the repairs. We also offered to hire an independent firm specializing in earthquake engineering to evaluate the root cause of the damage. We’ve assisted both our client and the insurance company in better quantifying the damage and cause of loss.
- One of our clients experienced a claim involving the mechanical breakdown of a large generator that powered their entire college’s campus. For some reason, the actual generator was missing when the investigation ensued. An Assurance Claims Advocate not only called the energy company for further details, but also questioned the salvage value of the generator owned by our client and not the power company.
- Riddled with major roof claims, one of our college clients was faced with rising insurance rates and increased deductibles. Rather than take what the market was offering, our team hired an independent construction consulting firm to develop a property conservation program. This program not only identified the quality of roofs within our property portfolio but provided our clients with the tools and resources to properly inspect their roofs and help in prioritizing repairs and replacements. This went a long way in our relationship with the property carrier and helped in being able to provide the best in pricing, terms and conditions. This service is now made available to all of our clients.
Going above and beyond the normal role of an insurance broker is in our DNA. I’m proud to be a part of a team that’s dedicated to minimizing risk and maximizing the health of organizations across the country.
Chat with us today to learn how we can do the same for your organization.
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