Take control of your insurance process and make insurers compete for your business to secure better coverage at lower costs. This proven strategy helps you gain leverage, control and positioning—without relying on an agent to dictate the terms.
Insurance is a significant expense for businesses, but most owners don’t approach it with a clear strategy. By relying on agents who don’t have strong incentives to negotiate, businesses end up paying higher premiums and receiving subpar coverage, letting insurers dictate terms rather than controlling the process.
Taking control begins with understanding how insurers assess your risk. By actively improving safety measures, addressing past claims, and implementing strong risk management practices, businesses can position themselves as low-risk clients. This opens the door to better pricing and more favourable coverage terms.
After enhancing your risk profile, the next step is to create competition among insurers. By managing the submission process and sharing quotes openly, you force insurers to compete for your business, which leads to improved offers, more coverage options, and significant cost savings.
These tips cover a broad spectrum of subjects, including risk profile, market analysis, risk mitigation, and reputation management.