25 Aug, 2021
How Miramar maximises your relationship with your client
In the world of insurance, relationships matter. Having a good relationship with an underwriter can sometimes be the difference between securing a client on risk, or having to sound out other markets.
Miramar senior liability underwriter, Bruce Gibbs, shares his top four tips for building relationships with underwriters.
Tip 1: Make a phone call
Bruce says that aside from relationship building, a phone call can save brokers time that might be spent on preparing a submission, in the event that the underwriter can’t take on a particular risk.
“Miramar encourages brokers to pick up the phone and give us a call, especially for anything which is a little bit out of the ordinary. We can discuss it with you and tell you what more information is required, or we’ll let you know if we can’t help.”
Tip 2: Send a quote slip not a proposal
Bruce says the second thing brokers can do to is to send their submission in the form of a quotation slip.
“When brokers email us, we encourage them to send us a quotation slip rather than a proposal. A proposal tells us about the client, but it doesn’t tell us what the client wants from their insurance.”
If the broker does not have a quotation slip, Miramar can provide a one page quote request form directly to you.
Tip 3: Provide a detailed submission
Providing all of the information required on the quote slip also makes for a smoother process.
“Common mistakes brokers tend to make are not providing turnover, a full business description, the period of insurance, or the full name of the insured,” Bruce says. “Whilst we may be able to quote without this information, we may not be able to fulfill the offer of insurance.
“We need brokers to provide us with all of the information, as the more information received and the better quality it is, the quicker we can respond and the better our response is likely to be”, Bruce says.
Tip 4: Don’t leave it until the last minute
Leaving a request for insurance until the last minute is another common blocker, Bruce says.
“To be fair to all brokers, we look to respond to enquiries in the order they’re received, so if someone comes to us at the last minute, we can’t guarantee that we can prioritise their request.”
Bruce suggests if a broker does have a last minute request, it’s better to pick up the phone than to send an email.
We’re here to help, the Miramar way
Bruce say a hallmark of dealing with Miramar is that it’s underwriters will go out of their way to find a solution.
“If we can’t take on a risk but and we know of an alternate market we will advise the broker. In light of current market conditions, it’s not as easy as it used to be, but we do give as much thought to a no as we do to a yes“.
How to contact Miramar
Bucking the trend of funnelling calls through a central number, Bruce says if brokers know which underwriter they need to speak to they should call them directly, with direct lines for all underwriters listed on our team page.
Alternatively, the team mailboxes are also an option:
“We have senior people looking at all of our mailboxes so we can make a quick decision about whether or not we’re going to quote and let the broker know. Brokers want answers and Miramar has people who can make those decisions.”
If you’d like to discuss product options with Miramar, you can call us on 02 9307 6600.
Miramar Underwriting Agency Pty Ltd (ABN 97 111 534 797, AFSL 314176) acts under a binding authority as agent for the insurers of the products: certain underwriters at Lloyd’s; HDI Global Specialty SE- Australia (ABN 58 129 395 544, AFSL 458776) and Zurich Australian Insurance Limited (ABN 13 000 296 640, AFSL 232507). The insurers may act individually or as co-insurers. Please review the particular product which sets out the insurer(s).The information in this blog is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this blog is accurate at the date it is received or that it will continue to be accurate in the future.