Tendering Business Insurance
Tendering Business Insurance
We make sure your company's insurance coverage is up-to-date and cost-effective
It is smart to tender the company's insurance policies from time to time so that your business insurance remains at market price. In most cases, the tendering is postponed because the company is not sure whether it is the right time to tender.
On the other hand, tendering insurance is often seen as a laborious and difficult project. One option, therefore, is to outsource the tendering to an expert insurance broker.
Work with our insurance broker to avoid over or underinsurance
An insurance broker is constantly monitoring the insurance market, so they have a good sense of the price range of business insurance. Most insurance brokers have also worked for one or more insurance companies, so they have practical experience about how the companies operate.
The insurance broker will use their expertise to identify different ways to optimise and improve insurance coverage. For example, a number of the companies we have analysed are either over or underinsured, have overlapping coverage, excessively large or small personal liabilities, and so on. At worst, this can lead to hundreds of thousands of euros worth of unidentified risks.
We will first carefully review all your company's insurance policies and the company’s history of claims. Based on the analysis, we will tell you whether the tendering of insurance policies makes sense and what outcome you can expect. We will handle the tendering from start to finish, from the preparatory work to the insurance’s enforcement, so you can focus on other things.
How to tender business insurance
We tender business insurance with years of experience and proven processes, so the tendering will progress efficiently and on time. To tender your company's insurance, send us a contact request. We will actively stay in contact with you during the tendering process when we need more information about your business or when we have something new to share.
The stages of tendering business insurance are the following:
Requesting insurance quotations
We prepare the invitation to tender for insurers and compile and prepare the attachments necessary for the invitation.
We deliver and present the material to potential insurers. We handle all necessary negotiations about risk assessment, special terms and conditions and pricing.
Review of insurance offers
We compare the insurance offers we received to the original invitation to tender and evaluate whether the offer corresponds to the invitation.
We make a written comparison of the offers and leave a recommendation of the best solution based on the comparison. The final decision remains with your company.
Summary and recommendations
We go through our recommendation in consultation and agree on how to proceed together.
We make sure that your business has an enforced insurance coverage. If you decide to change your insurance company, we will take care of all the formalities related to the change of insurance company.
It is a good idea to regularly tender business insurance. Send a contact request and tender your business insurance through us.
What happens after tendering?
After a successful call for tenders, you can continue to work with us to manage your insurance matters on an ongoing basis. This is usually arranged while reviewing the tender results. With us managing your company's insurance coverage, your insurance coverage will stay up to date and at market price. We will take care of day-to-day business, such as checking insurance-related mail and invoices, making the necessary changes, and updating your insurance coverage. We will also assist your company in matters related to claims according to our contract. In addition to continuous communication, we will hold a separate annual meeting where we will go through all the annual needs for changes in insurance coverage.
ReferenceWe will ensure that your business is appropriately insured
In short, appropriate insurance means that your business insurance covers the risks associated with your company's activities. We will ensure that your business is always insured in the best way possible, at a cost-effective price. Contact us to learn more!
