Risk & Insurance

Look for unique benefits when appointing an insurance broker

Most insurance companies include value-added benefits in their policies at little or no additional premium to differentiate themselves from competitors, but to find an insurance broker who does the same is rare, writes Des Langkilde.

Your insurance broker’s job is to know that all the terms and conditions of an insurance contract – including policy wordings – are appropriate before policy inception. But is your broker looking beyond the policy wording for value-adds that have meaningful benefits? And if they can’t find them, are they negotiating with insurers to provide benefits for their clients?

One insurance broker has been doing so for over 22 years. By specialising in the insurance placement needs of the travel trade and understanding the trade’s unique needs, SATIB Insurance Brokers have introduced some truly remarkable value-added benefits for their clients.

One such benefit is the SATIB24 Crisis Call facility. By convincing insurance underwriters that the likelihood and quantum of a liability claim can be mitigated through timely emergency medical response and post event trauma counselling, SATIB successfully introduced this value-added benefit across all of their clients insurance policies. Emergency medical evacuation insurance can be expensive as a stand-alone policy, but by introducing the facility as a benefit to all policies, SATIB have effectively provided a unique benefit.

Additional benefits that SATIB provide to their clients include risk surveys, property valuations, access to capacity building and legal assistance.

Another benefit that SATIB provides to its clients is the SATIB Green Digital Portfolio through which clients can not only access their portfolio summary and print certificates when abroad but also request policy amendments on a 24/7 basis.

Providing insurance cover certification is another beneficial innovation – the ‘SATIB Certified’ seal of approval logo is provided to clients for use on their marketing material. The website version of the logo has a ‘mouse-over’ pop-up window that testifies to the fact that the clients insurance complies with minimum tourism industry requirements and with the EC Directive on Travel Trade Act.

These benefits and innovations have been made possible by SATIB’s reputation as a specialist broker responsible for the placement of assets cover in excess of R20 billion.

SATIB have developed skilled teams dedicated to each of their six business units to ensure that they retain the highest level of focus and expertise required by a particular business or client. Their six business units include Tourism and Leisure, Wildlife, Life and Investment, Commercial and Industrial, Domestic and Sport.

SATIB has become recognised throughout Africa as a symbol of quality in risk transfer programmes, with A+ rated security, prompt claims settlement and efficient, personal service.

A final and perhaps less obvious benefit is that SATIB have retained their level 3 BBEEE status in South Africa.

For more information contact Gavin Courtenay on: +27 31 564 4200 or email: [email protected].

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