Client Service Plan

As a base to our relationship with our client we plan and structure our servicing arrangements.

A formalised plan is maintained for nominated clients. The plan then forms the basis of the overall servicing programme. This system serves as a mechanism to enable us to plan and co-ordinate activities on the account and will also enable a permanent record of service calls and reviews to be maintained.

When visiting clients, we ensure that an agenda is prepared for the meeting and wherever possible forward the agenda to the client prior to the actual meeting. If it is not possible for the agenda to precede our visit, we would present the agenda to the client at the actual meeting. Following the meeting a short note will be written to the client summarising the points agreed.

Where required or practical clients are to have regular contact and/or reviews undertaken, apart from renewal reviews. A service register is maintained, as per the prescribed form, and retained in the client file.

The service plan will be discussed and agreed with the client, but as a minimum should include the following:

1. Insurance Market Developments

  • Legislative changes and relevant impact.
  • Market trends / directions.
  • New insurance products.
  • Market Security.

2. Changes And Developments In The Client's Business

  • Acquisitions.
  • Divestments.
  • Changes in client’s needs generally and/or specifically.
  • Changes in client’s risk taking philosophy.
  • Current Description of Business.
  • New Contracts / Agreements.
  • New Products.

3. Information / Declarations Required For The Coming Year

  • Duty of Disclosure / Insurance Contracts Act / Insurance (Agents & Brokers) Act Notices.
  • Arrange surveys if required.
  • New and additional information required by Underwriters.
  • Timetable for providing information and Declarations.

4. Review Current Programme

  • Current Insurer’s performance, including claims service.
  • Limits / sub-limits (adequacy of valuations – updated professional valuations may be necessary).
  • Deductible levels.
  • Outstanding claims review / claims frequency / claims procedures.
  • Discuss any known claims not yet reported.
  • Self-insured losses.

5. Review Uninsured Risks

  • Uninsured Risk / Insurance Checklist. (If constrained by time, establish separate date to review this).

6. Strategy For Renewal

  • Agree client objectives and expectations.
  • Agree common due date and, if possible, position renewal date away from peak work loads.
  • Agree style and content of renewal report with client and determine how and to whom it should be presented.
  • Agree timetable for presentation of report.
  • Does client require us to investigate Alternative Risk Financing methods?
  • Establish whether other brokers are to be invited to submit. Wherever possible, obtain client commitment for renewal.
  • Remarketing of account? If so, agree number / which Insurers to be approached for quotations.

7. Post Renewal – Service Agreements

  • Agree Service Plan for coming year.
  • Agree style and number of Insurance Manuals.

8. Remuneration

  • Agree Brokerage and/or Professional Fee basis.

9. Premium Funding

  • Always discuss the benefits of Premium Funding and always provide an actual Funding Quotation.