The world is changing. With many people calling to cut out the middleman in various industries. This has been pushed by a wave of technology allowing users to go the direct route of purchasing insurance rather than via an insurance broker. But is that the best option for your insurance?
The answer is probably not. In an interview with IOL, Mike Glasby (Regional Head of Brokers Services at Santam) debunks some of these myths showing that a broker can be of great help and make a client’s life much easier. Brokers like EU Brokers are always striving to make your life easier with the right cover for you.
But what makes a broker better? Here are a few reasons:
Brokers make the process easier and faster
Take this scenario, you phone an insurance call centre and speak to a friendly agent. You answer so many questions and eventually you get a quote. Then you have to phone another insurance company for a comparative quote and answer all those questions again. The process is long and tedious.
If you were to get a broker instead, you would have answered one lot of questions and received a few quotes to help you find the best cover. This can help save you time and money. Furthermore, a broker can help to ensure you are comparing the same types of quotes.
It won’t cost more
This is a long lived fallacy that going through a middle man will cost you more. This is untrue. Brokers can often help you optimise your insurance to make your insurance suit your budget. Brokers are also paid via once off and ongoing commissions that vary from product to product. It is similar that when you phone a call centre, the call centre is paid once off commissions. This was highlighter by Mike Glasby in the interview.
Ongoing Service
Unlike the call centre agent, when you put down the phone your broker is still there for you. You can contact them with queries, questions and some brokers will even assist you in the claims process. This helps you to build a good working relationship with your broker.
As you can see, an insurance broker is not a necessity, but they make life much easier. With their knowledge, expertise and regulatory duties; you can be assured that a broker will give you the best service. EU Brokers has more than 21 years of experience and expertise in helping their clients get the best cover at the right price.