Arsalan N.: A broker firm is like many options
under one roof. I think that is the first main important thing. You’ll get different
options from different companies and you find the best one for you.
Mark L.: Local, multinational, all the specific covers you have, we can provide it to you.
Shalni B.: It’s always better to buy your insurance from a broker rather than going
direct or going to a bank or to very similar mechanisms, simply because brokers are here
for a reason. They have done their research, they work with several insurance companies
that they can give you various options. If you go direct then you are bound to buy that
product. If you’re also going direct then you’ll have to approach several insurance
companies to compare it by yourself which is extra work for you, whilst a broker can
give you various options. Seema M.: And then we know what vehicle we
have to insure. We know which insurance company will give them a better rate, better security
all that really matters. So, it’s the price, it’s the service, if it is the insurance company,
all these matters a lot. And what coverage is there in that particular insurance. So
that’s the reason they should come through us because we will see to it that we give
them the most competitive rate with a good coverage.
Avinash B.: When you buy directly from an insurance company, you are one of several
thousand clients for them and their objective is to charge you the most possible money and
give you the least possible benefits because this eventually leads on to profit for them.
It’s different for a broker, we are independent and our objective is to retain you as a client
over the long term, regardless of which insurance company you buy from. So, our objective on
the other hand is to make sure that we give you the maximum possible benefits because
at the end of the day, it is going to be the same people, it’s going to be us who have
to help you out at the time of a claim. Mark L.: Buying an insurance from a bank,
through bank or from a showroom, it’s like you are dealing with or buying it directly
from an insurance company. Seema M.: Banks, again, usually give insurance
when you finance a car. When you finance a car with the bank, they have the insurance
built in, you know. So it becomes very easy for the customer to take in insurance from
the bank itself. But still, they have one product, whereas brokers have a lot of products
which the client can choose as well. Avinash B.: If you’re buying your car insurance
from a bank or a car dealer, you are not buying it from an insurance professional. All they
want to do is sell you something and make a quick buck out of it. They do not have any
sort of infrastructure to serve you in the time of a claim afterwards nor do they have
any intentions to train their people to sell the products appropriately and let you know
about all the details about the policies. Fayaz K.: Not necessary that you will get
the best rates from them because it’s compulsive. They can always play around with your rates
and more of the services are under question, whereas a broker who’s always with you from
the time of the inception of the cover ’til in case of unfortunate event of a claim or
’til the expiry of the policy or renewal, proper followed, everything should be there,
which the dealership agent cannot guarantee or service.
Arsalan N.: Plus, the broker firm’s like if you have insurance, insurancemarket.ae they
have a claim service, [inaudible 4:10] like claim service which you won’t find with the
insurance companies. Fayaz K.: If there is a case of claim because
of the volume of business we present to them, insurance companies, they take it seriously,
more seriously than a person who’s making an individual insurance. Because of the volume
of business and we have a dedicated claims team also which will help them to get the
car service or repair done at the earliest. So, customer gets a peace of mind because
he has a consultant who will protect him against any misrepresentation. Second thing, he has
somebody who will walk through the claims and he gets a better service at the time of
issuance of the policy, and guidance. So, customer is in a bit of rest when he goes
to the broker. Mark L.: Compare the prices. So, with insurancemarket.ae
you will be having the most competitive insurance quotations as per the market because with
insurancemarket.ae, we have reputated insurance companies that are giving very good rates.
So I will rest assure you guys that if you go to insurancemarket.ae, you will be having
the best value quote or insurance for your market.
Seema M.: We do give better rates than the insurance company itself. The reason being
that we give them up big portfolio of business. Fayaz K.: So, our purchasing power is so huge,
that other insurance companies give them special rates and special features and special services.
Avinash B.: Certainly it is going to be cheaper to buy from us than to buy from the insurance
company directly, or even a bank, or a car dealer. But, what is more important is that
when you buy from us you have a commitment to claim service.
Rushani P.: At the time of a claim also, you can get a very good service through a broker
company and I think it’s really good to go through a broker company.
Fayaz K.: The actual value of an insurance company comes into play when there is a claim
or when there’s an assistance required, that is when these things come into play. If you
are with a proper provider, proper agent or consultant you have, they will go through
the entire process of claim with you, help you out. If there’s any problem you are facing
in the policy, that also will be sorted out when you’re with a broker but when you’re
an individual, in the insurance companies you will have tough time dealing with your
claims. Avinash B.: We need to be there for you for
the twelve or thirteen months of insurance cover. You should be able to give us a call
like anytime when you are in real need and we should be there to help you. And if it
is a slightly unusual claim or it is a catastrophic claim, God forbid, we should be representing
you in front of the insurance company to have your claim paid as soon as possible. This
is our job. Shalni B.: I think you’ll save a lot of time.
You also save money because you can see what’s available in the market, and it’s just convenient.
So you’d rather go with a broker than anybody else.