Tendering Business Insurance
Regular tendering for business insurance brings quality and savings. However, comparing insurance is often perceived as difficult or delayed due to lack of time. An insurance broker will manage the insurance tendering process so that the result is almost always better cover and a lower price. Let a professional help.
Peace of mind
Best price
Independence
Insurance tendering requires time and expertise
Save money - tender for insurance
Tendering for insurance is a sensible way to make sure your organisation is properly insured. Tendering for insurance can save up to 20-30% on premiums and improve your terms and conditions. In addition to the general financial and risk situation, the right time to tender will depend on your organisation's claims history. As experts, we can tell you if now is the right time to tender your organisation's insurance.
Over- or under-insurance can be costly
Insurance tendering usually starts with a careful insurance analysis that reveals whether your organisation is over- or under-insured.
Over-insurance means that you are paying too much for insurance because it is over-rated for your organisation's real needs and risks. Underinsurance, on the other hand, means that there is not enough insurance cover, so your organisation could face major financial difficulties if something unexpected happens to it.
Both situations are damaging to your organisation's finances and reputation.
Are you suffering with your insurance offers?
Comparing insurance content, terms and conditions and prices can be a challenge. Business insurance and public sector insurance policies are often complex, with many small details that can significantly affect the effectiveness of the insurance solution. Insurance offers are not always directly comparable, as each insurance company prepares its offers differently. As a result, the content of cover can be significantly different, even if it looks the same on the surface.
The insurance broker drafts the requests for insurance in such a way that the contents of the different offers are comparable. You will have access to a written policy comparison that clearly explains the differences between the offers of the various insurance companies.
Insurance diversification often brings benefits
Through an insurance broker, you can also spread your insurance across different insurers for a better overall insurance solution. If you have all your policies with the same insurance company, you may be dependent on its service and conditions. When you have more than one insurer, you can choose the best insurer for each risk.
The idea of dealing with more than one insurer can seem chaotic. But we manage all our customers' cover through our unique online service, S&P Online, where you can see all your cover at a glance - regardless of the number of insurers.
This is how the tendering process works
Preparation of requests for insurance offers
With the proxy, we will obtain the necessary information about your current insurance cover and your most recent claims history from your current insurers. We will prepare a request for quotation and collect and prepare all the necessary supporting materials for the request for quotation.
Offers from insurance companies
We deliver and present the request for proposal material to insurance companies. We also respond to any clarifications and additional questions from insurers and, if necessary, negotiate separately on risk assessment, special conditions and pricing. We ensure that we receive the necessary number of competitive insurance quotations for the comparison of insurance policies and that we keep to the agreed timeframe.
Written insurance comparison
We will make a written comparison of the insurance offers we receive. We assess the suitability of the insurance solutions offered for your organisation's needs and how well the insurance offered matches the original request for quotation. We will review the price level of the insurance offers in relation to other offers, the contents and conditions of the policies offered and your previous insurance policies. Our aim is always to get a better insurance solution at a better price.
Recommendation on insurance cover
We will recommend the most suitable insurance solution and insurance company(ies). However, the final decision remains the responsibility of your organisation. We will go through our recommendation with you and agree together on the next steps.
Changes to insurance cover
If you decide to change insurers, we will put the new policies in place and cancel the old ones if necessary. You do not need to spend any of your time on these procedures. If you wish, you can check the final result in summary form on our e-service.
Why Söderberg & Partners?
Broad shoulders
We are one of the largest insurance brokerage companies in Finland. We manage a very large part of the insurance cover for Finnish companies and public entities, which gives us an excellent negotiating position vis-à-vis insurance companies.
Diversified expertise
Our size also allows our staff to specialise in depth in different areas of insurance and risk management. In addition to lawyers and risk engineers, our experts include specialists in the following types of insurance, among others:
- workers' compensation, also known as occupational accident insurance
- life and pensions insurance
- property and business interruption insurance
- liability insurance
- motor insurance
- transport insurance
- credit insurance
- guarantee insurance
- international insurance
- group solutions.
Excellent negotiating skills
We negotiate better-than-usual insurance terms for our clients, with the necessary additional conditions and competitive pricing. As professional insurance buyers, we know what is possible to ask for and get. We prepare our requests for quotations in such a way that we obtain good and comparable insurance offers. We are familiar with the legal requirements for insuring both companies and public entities, and we are also familiar with procurement law.
If necessary, we seek cover outside Finland through our international organisation or our extensive networks, and we use the group insurance we negotiate.
