INSURANCE BROKING – Affinite Insurance

Who is an insurance Broker in Oman?

An insurance broker is a CMA incensed entity specialist in risk management and sourcing of highly customized insurance policies on behalf of their clients. They act on your behalf not the insurer, to ensure that you are fully and appropriately covered for the risks you or your business face.

A simple self-evaluation on following indicators would really help you to understand whether you are running your business on chances or as prudent equity owner. If most of the answers are NO – immediately call us or write back to fix a meeting or to know more about our unique proposition.

Are you aware about critical managerial changes in your current Insurance Company/Broker?
Do you place your insurance program well before the expiry date? Delay in placement may get you temporarily off-cover without even you knowing about it?
Have you or your representative ever read the complete policy document?
Are you getting enough competitive and meaningful alternate insurance quotes? Repetitive insurance renewal on a continual basis is a big cause of concern with same insurance company always being the L1. It means that market knows that you will only place your insurance program with a specific company and they decide actually not to participate in your annual insurance program which you may not be able to observe. They resort to release substandard quotes.
Is premium pricing your secondary focus? Is payment of premium first in your financial agenda? Do you know what is PPW warranty in insurance policy document and what are the consequences of not abiding by?
Do you keep provision in annual budget towards safety performance program?
Do you review each accident/behavior in the same manner? Are you correcting your employees after every incident of unsafe behavior?
Have you ever made a large claim in any of the policy? If no it means efficiency of program and insurance service provide has never been tested. Do you get your smaller claims settled with in 30 working days?
Do you ask your insurance claim reports on quarterly basis and make an analytical study to avoid recurrence?Have your ever collected reference from existing clients before awarding your program to a given insurance broker or company? Do you collect references on annual basis as a part of insurance placement exercise?