The broking business of the future

The broking business of the future

Broking has much to be proud of – as shown by high client advocacy and low client disputes both in New Zealand and Australia.

Our challenge now – which we embrace with optimism and courage – is to sustain that record as we look towards future of our industry.

So how do we do this, and what does that future look like? We believe the general insurance broking business of tomorrow will centre on:

Advice

General insurance broking is focused on connection, first and foremost with our customer. The broker meets the customer on their terms, providing practical personalised advice. They engage with the customer and orchestrate the analysis of information, reconciling trade-offs, and enabling the customer to get exactly what they need without having to become an expert, or accept poor value and service.

The business places quality of advice to the customer first. That advice helps them navigate to the ideal mix of products and services for them. Risk management advice, comparison, needs and solutions modelling are all enabled by new technology platforms. Customers will be able to engage with the advice business through their phone – enabling omni-channel access between the consumer and the smaller, more agile, advice businesses that we serve.
Professionalism

With an enhanced focus on governance and quality, the broker will wrap governance and quality assurance structures around the people and technology in the business. More of the brokers will work ‘on their business’ than merely within it.
Technology

Technology brings data feeds and workflow management to relieve the broker of many of the administrative and technical burdens of providing excellent advice. Compliance will become assured throughout the process, rather than a complex minefield bolted on to the advice process.
Services

A mix of broking services may complement product sales as technology enables advice efficiency and easier mechanisms to charge fees for advice.

For a confidential conversation about your insurance programme, contact an Insurance Advisernet Member Broker today.

General Advice Warning

The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.

SME Business Insurance Pack

Business Insurance is used by many businesses, but it’s best suited to SME-type operators.

SME Business Insurance Pack

What is SME Business Insurance?

Having adequate business insurance cover is one of the most important considerations when in business to ensure protection should loss or damage occur. Business insurance policies allow you to select relevant sections of cover based on your individual needs and group them together as a package.

Businesses in New Zealand, particularly SMEs, can benefit from business insurance solutions that will cushion them from financially disastrous events which cause damage to property, loss of profits and third-party liabilities.

Every SME needs business insurance that considers their overall risk profile and addresses their needs. Depending on the business, industry, and the inherent risks associated with operating within that industry, an organisation can obtain an SME business insurance package that is tailored to meet their individual insurance needs.

Business insurance can include but is not limited to:

Material Damage - provides protection against property damage to physical assets owned by the business, such as buildings, contents, stock and customers goods, in the event of an insured incident.
Business Interruption - protects you from financial loss caused by an insured event or incident that halts business operations. Business interruption insurance helps return your business to the same financial position it was in prior to the event or incident.
Burglary/Theft - covers theft of goods and property within the business
Plant & Equipment - insures tools, equipment, and machinery that are critical to business operation.
Motor – provides cover for physical loss, damage or theft of vehicles used for business.
Liability – provides protection against legal liability for property damage and personal injury to a third party.
Property anywhere in New Zealand – covers portable assets and property that you take away from your premises

At Insurance Advisernet, we offer a broad range of insurance solutions at a price you can afford. Our authorised insurance representatives will work with you to understand your business and your specific insurance needs. We can provide you with a recommendation based on a thorough analysis of your business risks and liability exposures.

For more than 15 years, Insurance Advisernet has been at the helm of the insurance brokerage industry in New Zealand, providing coverage to business customers.

Protect your business today! Schedule an appointment with our expert brokers, and we’ll be happy to customise an SME business insurance policy that’s right for you and your business.

Frequently Asked Questions

What is SME Insurance?

Business Insurance protects small to medium-sized enterprises from major financial losses as a result of property damage, loss of profits and third-party liability claims. Business insurance can be packaged to include a range of policies like motor, property, plant & equipment, cybersecurity, business interruption, and professional indemnity, among many others.

How can insurance help small businesses in New Zealand?

Having adequate business insurance is one of the most important considerations when in business to ensure protection should loss or damage occur. Business insurance policies allow you to select relevant sections of cover based on individual business needs and group them together as a package tailored to meet the requirements of the business.

What does SME stand for?

Small and medium-sized enterprises (SMEs) are independent businesses that maintain revenue and business assets and employ a certain number of employees below a threshold. The threshold for designating an SME differs across countries and industries.

How can insurance help small entrepreneurs or SMEs, or how it relates to risk management?

Buying insurance is a wise risk control strategy for SMEs. Having adequate business insurance is one of the most important considerations when in business to ensure protection should loss or damage occur. Insurance provides cover for business assets, profits and liabilities, reducing financial uncertainty should the business suffer loss or damage.

Why is insurance important for business owners?

Having adequate business insurance cover is one of the most important considerations when in business to ensure protection should loss or damage occur. Insurance provides cover for business assets, profits and liabilities, reducing financial uncertainty should the business suffer loss or damage.
Insurance that provides appropriate cover for your business needs is a critical component of business risk management strategy. Unforeseen events and accidents happen, that’s why having appropriate insurance cover in place can help business owners deal with and minimise the financial impact of such events.