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Leading Lancashire Insurance Broker
This leading insurance broker has been providing corporate business and personal lines insurance to clients across Lancashire for many years. With a clear objective to drive efficiency levels up – to help grow the business and address incoming regulatory changes under the Insurance Act 2015 – the company sought a new way of handling policies and renewals using RSA’s new Business Combined offering.
Background
Operational efficiency is at the heart of the broker’s business strategy. As the company grows and seeks to address a plethora of new client service obligations, it is vital that it has the right systems in place to continue to offer a fast and effective service and exceptional client care.
“We needed to make sure that we could continue to transact and manage our workload effectively”, one of the company’s managers explains. Having used eTrading for smaller, less complex risks, the broker was aware of the benefits of trading digitally. She continues, “We were unsure if eTrading could support some of our larger, more complex clients, but the potential was definitely there and the efficiency arguments were impossible to ignore.” The company started using RSA’s new Business Combined offering in 2016.
“We were surprised by how easy it was to place these larger, more complex risks using an eTrading solution. I’d say it’s a natural next step for any broker looking to drive efficiency in their business and offer a quick, competitive service to clients.”
Manager at a leading Lancashire broker
eTrading for larger, complex risks
In the space of just a few months, the broker has relied on eTrading in ways that it could not previously have imagined. The manager comments, “The team at RSA have opened our eyes to the huge potential of eTrading to drive more efficiency in our business and help us offer a more competitive service to our full range of clients.
“We now use eTrading for some of our larger, more complex commercial clients, including a digital sign and media company and a carpet wholesalers, both of which have a complex risk profile. We never thought they would fit on an eTrading system, but the technology, endorsements and flexibility are such that this hasn’t been an issue, and RSA is at the end of the phone if we need any extra flexibility. The speed with which we can turn around quotes, documents and renewals means that clients get what they need and we can operate a lot more efficiently.”
RSA Business Combined also enables the broker to enjoy more competitive premiums, adding to an improved service overall for clients.
Impact and Benefits
Short term
• Greater confidence in using eTrading across the business
• Realising the benefits of eTrading across larger, more complex risks
• Greater operational efficiency
• More competitive premiums
• Instant access to quotes and documentation
• Greater client satisfaction.
Long term
• Increase sales capacity
• Grow book with RSA
• Transact and manage workload effectively
• Increase speed of renewals
• Remain competitive.
“The speed with which we can turn around quotes, documents and renewals means that clients get what they need and we can operate a lot more efficiently.”
Manager at a leading Lancashire broker