Opportunities at renewal
Anthony Pagano, Vero Head of Commercial Distribution - Commercial Insurance has said “with so many variable factors to consider, brokers who simply rely on clients to make contact with them regarding any business changes, may find themselves in a situation down the track, that could have been easily avoided through early detection and a conversation to provide a solution or options to consider”.
Essentially, if brokers are not checking in with clients at renewals it is a missed opportunity for them to demonstrate their expertise in dealing with fluctuating business operations. Changing circumstances such as pandemic, natural disasters or other external factors may leave clients under insured, this is an opportunity for brokers to reassess their clients’ needs and recommend a higher level of cover.
What can brokers do to ensure they understand their clients’ needs?
Keep an eye out for the additional Bonus Chapter of the 2022 Vero SME Insurance Index on SME attitudes to risk and under-insurance. If you’d like to receive these updates please contact your Vero representative or follow Vero on LinkedIn.
Source: The SME Insurance Index report research was conducted by BrandMatters. See www.brandmatters.com.au
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