Could we help you win a new client? We understand the hurdles of winning a new client as a retail broker, particularly with challenging classes and industries. Read our case study to find out how we helped our broker partner succeed in winning a new waste client with their Property risk:
We were approached by one of our broker partners who was attacking a waste and recycling client - a land developer for waste management and other uses, including energy generation. The client had been unimpressed with the handling of their business and the delivery of the renewal process by their holding broker, including significant increases to their premium.
Our broker partner approached us with the risk and asked if we could assist in helping them win the new client.
We had access to the holding markets and good relationships with them but were honest with the broker and their client, advising that due to the large exposure we may struggle to find a comparable alternative price. However due to our specialist experience and close relationship, we advised if the broker partner was to be appointed on the risk we may be able to negotiate a better deal.
The client was happy to proceed on that basis and we worked closely with the broker, supporting them to gain the required information from the client as they were unfamiliar with the nuances of waste and recycling Property policies. Once we obtained renewal terms from the market, we adjusted the placement conditions based on the increased information provided for the client’s business and exposures.
Due to our market knowledge of waste and recycling Property risks and our long-standing relationship with the holding market, we managed to obtain a better deal for the client, resulting in a premium saving. In turn, the broker gained their new client.
Do you have a new client you are trying to win in one of our specialist areas?