Trying Times Facing Engineering
Insurance Advisors
BOUWEN CEO speaks about Engineering Insurance and Navigating the National Lockdown
By Michelle Hollenbach
“You WILL receive claims when lockdown is lifted, and your advice WILL be tested more than ever…”
As so many of us have been brought to a forced standstill, and we read many articles on how to stay positive and reflect, it is the perfect opportunity for us to share some engineering insurance reflections on how to add more value to your client base.
We are facing a time in our industry where we witness the internal struggles and workings of our client base. We will see how fine profit margins turn into even “finer” profit margins as our clients work every day to ensure that their businesses survive the challenge of our non-existent economy.
Whilst you may believe that you can sit back and watch debit orders run at month end, we urge you to take this time to establish interaction in your client’s risk management plan and to be relevant to his path of survival.
The relevance of the insurance products that we provide to our clients in these testing times will come under the microscope, and we need to be confident that they are appropriate, cost-effective and in the client’s best interest: You WILL receive claims when lockdown is lifted, and your advice WILL be tested more than ever…
Have you considered what the impact of site abandonment or shut down is on your client’s cover?
Have you discussed this with your engineering insurance provider, and have you appropriately communicated this to your client base?
We have made many tools available for you to:
• Provide better and more cost effective engineering cover.
• Identify short coming in cover and broaden your client’s indemnification.
• Provide services outside the scope of financial services and pertinent to your client’s risk management.
Focusing on the last point – we invite you to consider offering your client our Occupational Health and Safety product, which is a non-financial product, but is offered to all BOUWEN clients on payment plans to implement safety files and all relevant Occupational Health and Safety services, through our partners, The Safety Pros.
Ensure that your client understands that you are invested in his needs during these difficult times by remaining relevant in his path of implementing, not only indemnification, but excellent risk management.
We remain available to all our partners and urge you to contact us for more information on how you can better your engineering service offerings to your clients and to assist with policy conditions and considerations of existing products.
If you have any questions click here or send an email to contact@bouwen.co.za.