The Power of Choice: why go independent for your insurance

In simple terms, an insurance broker is an intermediary professional who works to bridge the gap between a client and an insurance company.  Authorised by the Financial Conduct Association (FCA), insurance brokers use their expertise and knowledge of a client’s business or personal insurance needs to provide guidance as to the most suitable cover.  They consider factors such as price, level of cover offered and suitability of the insurance product.

Is bigger always better?

In the world of insurance, bigger isn’t always better. While ‘national’ insurance brokers may boast extensive networks and resources, the true value lies in how effectively they can meet your unique needs.

Over the last decade, consolidation has been one of the key changes in our sector and with fewer independents left, the nationals have bigger bills to pay.  They have no choice but to service clients in different ways, often meaning clients find themselves navigating a more web-based approach.

We believe that all businesses should be offered the same level of service, regardless of their size, and this is where the independent model still works well.  Whether you’re a business owner seeking tailored cover, or an individual looking for the best personal insurance options, the right broker can make all the difference.

In the case of COHIBL, we are an ‘independent’ insurance broker.  This means that we are fully independently owned, and do not have any pre-determined affiliations with, or responsibilities towards, any one particular insurer.

We believe that the capabilities and personalised service we provide matters more than our size.  We pride ourselves on putting our clients first; it’s at the very heart of our business model, and it’s what makes us stand out compared to our competitors.

Expert advice and personalised service

Insurance isn’t just about getting the maximum amount of cover for the most competitive price.  The role of the insurance broker is to tailor a programme of insurance which is specifically designed to meet the needs of your business and the risks it faces.  The same is true for private client insurance.

We treat your business as if it were our own, not simply another transaction. Understanding what you do is just the start. Our expert team will carry out an in-depth due diligence exercise on your business and any risks you could be exposed to. The resulting insurance programme will be tailored to your exact requirements, rather than a ‘one size fit’s all’ mentality, and aims to help you focus on what matters most.

Time and money saving

Whilst comparison websites can be a useful tool when looking for covers such as personal car insurance, when arranging the insurances for your business or high net worth cover, it is a much more involved process.  By choosing to work with an insurance broker to arrange your insurances, you are buying yourself peace of mind and claiming back time that would have otherwise been spent in stressful and often confusing negotiations.  And by working with an independent broker, you can be sure that the necessary time will be taken to fully explain the insurance products that are being presented to you, in clear and concise language that makes it easy to follow.

Access to a range of products

As we don’t have pre-determined obligations to work with any particular insurers, we are able to build and maintain great relationships with a wide variety of insurance companies, across all classes of insurance.  From commercial, to high net worth, motor fleet, to professional indemnity, we know the insurers that are going to be able to provide the most comprehensive levels of cover for you, at the most competitive rates.

Being completely independent means, we answer only to our clients. This, coupled with our trading history in the UK market, means we hold enviable relationships with all key insurers across the industry, getting you comprehensive, competitive insurance packages each and every year.

Help with claims

Your insurance cover is in place to ensure that, should the worst happen, you can get back to normality as quickly as possible, whether that be in your business or personal life.  Having comprehensive cover is important, but equally important is having access to a qualified and experienced claims support team.

As explored in our blog, “Why you need a good Claims Team in your corner”, having a good claims team on your side can be the difference between a positive experience, or a time of stress and anxiety.  They are an integral part of the servicing team and should be on hand to provide you with in-depth advice on how to achieve the very best results from your insurers.

At COHIBL, we are extremely proud to have one of the most experienced Claims Teams in the industry, who have been fighting the corner of our clients for over 25 years.  Unlike some national insurance brokers, where you will be dealt with by a call centre, our in-house claims team works closely alongside our servicing team to ensure that there are no gaps in information, and your claim can be dealt with quickly and fairly.

Risk assessment and mitigation

Addressing unusual or complicated risks or situations is a crucial aspect where the right insurance brokers can truly shine.  Unlike many other brokers who outsource risk management, our in-house risk management offering helps to prevent losses and accidents before they happen.  By carrying out an assessment at your workplace, you’ll be able to remedy hazards that may impact your claims record, and the reputation of your company.  And because we will have a fuller understanding of your risk, this will help in our negotiations with insurance companies on your behalf.

Regular contact according to your needs

A competent insurance broker won’t just contact you when it’s time to collect annual premiums.  Regular contact with your insurance broker is really important, particularly if you have changing circumstances throughout the year.  From Mid-Term Adjustments to evolving exposures (cyber cover for example), by choosing an independent insurance broker to assist you with your arrangements, you will have a dedicated team on hand to assist your every insurance need.

How we care

In summary, at COHIBL we are proud that we have a very positive client retention rate, and we put that down to a few key things: –

• The size of our business means that we can offer a tailored, professional broking service, where our clients are more than just a number.  We take the time to get to know you, what your individual needs are, and how we can help.
• We have great relationships with insurers across all classes of insurance.  From commercial, to high net worth, motor fleet, to professional indemnity, we know the insurers that are going to be able to provide the most comprehensive levels of cover for you, at the most competitive rates.
• We are extremely proud of our inhouse claims services.  At COHIBL, we have one of the most experienced claims departments in the industry and our ability in this key area has been proven time after time. We know how to get the very best results for our clients and our ethos of ‘we care’ is demonstrated in the way we handle the claims process.
• Our dedicated Manchester based team are always available when you need us. Whether you are a private client, or owner of a large business, the service that you can expect from us never waivers.  That’s the COHIBL difference.