Role of an Insurance Broker

• Study the client’s activities and their particular environment. This is done by way of a RISK ASSESSMENT INSPECTION, which takes in its purview all aspects of the organization like processes, nature of materials, location, business and geographical environment, etc.
  
  
• This helps in
  • Identification of all possible losses small or big caused by circumstances (actual and probable)
  • Identification of means of preventing the loss and minimizing its impact
  • Analysis of the proportion of risk that can be economically retained
  • Decision on the portion to be transferred to insurers
  • Choosing the insurer/type of cover most advantageous to the insured.
    
    
• The broker therefore is an impartial analyst of the clients systems and a qualified advisor on coordination of activities aimed at minimizing losses and improving the bottom line without compromising on the quality of the cover.
  
  
  With the mandate of the client he researches the market for the best available offers and negotiates on behalf of the client. He also assists in documentary and claim processing procedures.
  
  This saves the client precious time, which can be better utilized in focusing on their key activities.
  
  
• In placing their insurance portfolio with a good broker the client also assures himself of being current with developments in the insurance sector gaining from information about related developments in similar industries in India and the rest of the world.
  
  
• When you outsource your insurance portfolio to Lucas & Mayo you get all the above advantages as we always act on your behalf and in your interest. Since the final decision is always yours you retain your control and gain an advisor. Unlike agents, who act on behalf of a specific company, we act on your behalf and get the best from among many companies.