Advice Process

Insurance products and how they need structured can be very complex and confusing, we provide an advice process which entails:

What we do for you
We can build you a tailored plan to your needs and wants, review your current insurance and give you clear advice, bringing clarity and work for you to obtain you a better deal; whether a better deal means better price, or better terms, conditions, or benefits within the products, we want to do what you engage us for.

There are a few different options when approaching a review of your insurance.


What’s next?
We can, either:

  1. Quote the benefits that you would like quoted
  2. Go through your existing insurance covers, review the products contained and compare with what options we have available that may improve your coverage or premium structure;
  3. Quote against current insurance provider using the same main benefits you currently have with one or more insurer;
  4. Review needs for insurance by analysing your situation/risk and provide recommendations and quote(s) of such needs;
  5. Act as your broker on fire and general type insurances taking over from your last broker with the current policies. or in regards to risk type insurances, take over as your insurance adviser.
  6. You may already have in mind what you would like us to do and what your expectations are. On our first meeting we can draw up a scope of service which outlines the expectations of each of us and what you’d like to achieve.
  • Insurance Reviews
  • Circumstances are always changing; this is why your plan should be reviewed regularly; we recommend that you do this annually or when there are changes.
  • We ensure that we will efficiently make any changes as requested & necessary for an existing clients policy managed through us, for example; selling a vehicle and then purchasing a new one, changing the occupancy of a home, etc.
  • Below is our advice process
  • Step 1 – Establish the relationship
    • Understand client’s high-level requirements (domestic, commercial, industry or e.g. car, Life, medical ..).
    • Refer if outside of expertise and/or qualifications.
    • Provide disclosure and scope of services.
    • Build a scope of engagement.
    • Check that client understands the scope and any limitations of the scope.
    • Keep a record of what disclosure was provided, and steps taken.
    • We establish your wants, expectations and agree on engagement of services we are to provide.
  • Step 2 – Understand client’s circumstances and needs
    • Undertake research to prepare for needs analysis, company research.
    • Complete a needs analysis, identifying client’s assets, financial situation, needs etc.
    • Identify any vulnerabilities or additional requirements.
    • Collect supporting material, valuations etc.
    • Confirm that your understanding of their circumstances is correct.
    • Understanding your circumstances, assets, liabilities and needs through an information collecting excerise.
  • Step 3 – Analysis and Product selection
    • Analyse customer circumstances.
    • Research and prepare client insurance submission (obtain quotes).
    • Request additional material or information from client.
    • Policy comparison – select products that best meet client needs.
    • undertake analysis of your situation and create quotes.
  • Step 4 – Present advice and Recommendations
    • Provide a Statement of Advice.
    • Discuss recommendations with client.
    • Ensure client understands the advice.
    • Client to provide authority (or approval) to proceed.
  • Step 5 – Implementation
    • Implement for required timeframe.
    • Provide confirmation.
    • Remind client of the need to notify you of certain changes.
    • we implement your agreed go forward plan.
  • Step 6 – Monitor and Review
    • Annually review client circumstances, needs and policies or as agreed in scope.
    • Provide annual review document.
    • Change of circumstances may prompt earlier review.
    • Alterations, endorsements, cancellation, claims advice to be provided as required.
    • Provide an ongoing review process with advice, including claims support.

If limited scope of service has been selected

The process will vary depending on the nature of the limited scope.

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