“Can’t get hold of my broker – it’s due on Sunday…”
Urgent renewal via Letter of Appointment
“We were contacted by Ascend Broking via an initial introduction call on the Thursday afternoon and, at this time, my policy was due that Sunday and the phone lines to our existing broker were not connecting with anyone.
Ascend visited us on the Friday morning at very short notice, and I signed a letter of appointment to urgently review and renew. The account executive conducted a full fact-find and made savings on the existing renewal.”
Sector: Motor Trade
Sub Sector: Repair and Servicing
The client was really concerned to keep their business insured but their existing broker did not -:
- Discuss the renewal in any capacity
- Have any point of contact for the client
- Service the client
The client was approached by their Account Executive at Ascend on the Thursday afternoon, and we had an open and honest conversation about what their options were at such short notice and what adjustments we could make to their existing cover after the fact-find.
Following the face-to-face meeting the next morning, the process was:
- The motor trader provided their existing documents at the meeting
- A detailed fact-find meeting covering the highlighted adjustment areas
- Letter of appointment signed and sent to insurer, marked ‘urgent’ as needed to be renewed by the end of the day with adjustments
- Insurer market responded within a couple of hours and confirmed renewal premium which was issued to client, with accompanying telephone call to discuss
We revised sum insureds on their policy to adjust:
- Employers’ liability
- Buildings cover
- Diagnostics equipment
- Hydraulic lifts
- Engineering inspection
- Customer/own vehicles
We provided key risk management insight into their business and recommended obtaining an additional quotation to adhere to “The Lifting Operations and Lifting Equipment Regulations 1998 (LOLER)” to protect the client and their employees from harm. The Engineering Inspection makes sure hydraulic vehicle lifts are checked at regular intervals and are fit for purpose.
The client was happy with the outcome of our thorough review of their existing insurance arrangements and understood the changes that needed to be made and why.
We were able to provide a solution with their existing A-rated insurer and were fortunate to be able to reinforce confidence in our customer services from an early stage, as our Account Executive is available on their mobile 24/7.