And top of the list according to both of them is being willing to pick up the phone and discuss with them the features of a client’s risk in as much detail as possible.
This includes giving extra information that falls outside of what is requested in proposal forms.
“Sell the risk to us,” England said. “You’ve got to understand we can see 100 enquiries a day. To get the attention you want and you probably feel you deserve, you need to pick up the phone and have a conversation.”
By supplying as much additional information as possible, England said this helps Consilium brokers in their placement discussions with insurers.
“We want to win business,” he added. “We want to play a part in helping you win and retain business. So pick up the phone and go into as much detail as you can – not just what the proposal forms say.”
Woodhouse agrees that detail is key, and said this speeds up the entire process of getting a risk placed. And to get the detail, he thinks the secret is good preparation and leaving plenty of time to get the information.
“As long as you present it well, and you give us as much information and as much detail as you can, that’s key for us and we can then turn things around a bit quicker because we don’t need to keep going back and forwards with more questioning,” he said.
Speaking to Aventum Marketing Director Matt Field, they revealed PI risks were currently some of the most difficult to place. As capacity has dried up in recent years England said placement had become very challenging, with significant rate increases, additional excesses being applied, and widespread coverage reductions.
Other challenging lines highlighted by the pair included Property and Anaerobic Digestion.
In a wide ranging discussion, the pair touched on a number of other subjects, including the profile of brokers Consilium wants to grow its relationships with, transparency of earnings, the increasing use of technology to transact business, and the advantages of being independent.
Listen to the full interview below to hear their thoughts on all these issues.
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