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BIBA Personal Lines Administration Facility Agenda Background to Equity Insurance Brokers The Transfer of Business Facility Your Equity Team Operational Capability – Motor Operational Capability – Home Transfer Features Motor Insurance – Special Features

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agenda
Agenda

Background to Equity Insurance Brokers

The Transfer of Business Facility

Your Equity Team

Operational Capability – Motor

Operational Capability – Home

Transfer Features

Motor Insurance – Special Features

Home Insurance – Special Features

Managing the Business

Transfer Process

Key Points

Benefits to the member

The Proposition

Track record

Awards

Contact Details

background to equity
Background to Equity

Major player in the UK Personal Lines Insurance Market

BIBA facility providers since 2001

8th Largest Personal Lines Broker in the UK

Gross written premiums £170m

Market leader in provision of fully branded schemes

panel of insurers
Panel of Insurers

Current Household Panel Insurers

Allianz Cornhill

Equity Red Star

Legal & General

Zurich

Fortis

the transfer of business facility
The Transfer of Business Facility

During implementation of a new transfer the following resources will be made available:

Equity Account Management Team – based in Brentwood responsible for co-ordinating delivery of the business infrastructure e.g. monthly MI, regular review meetings, complaint resolution and administration

Operations Management Team – based in Colchester responsible for collecting the Broker client data, inputting the policy details on to the Equity system, receiving calls and dealing with your client’s enquiries and outbound calling to secure renewal and ensure service during transfer and beyond to the Broker Corporate Insurance Brokers to consider

Both, the Equity Account Management Team and the Operations Management Team will work closely with you to ensure the smooth running of all aspects of the transfer

Beyond the initial transfer stage, the Equity Account Management Team will continue to be the key point of contact

your equity team
Your Equity Team

Account Management Team – Brentwood, Essex

Steve Young – Broker Development Manager

Operations Management Team

Motor - Colchester

Michael Larkin – Motor Operations Manager

Tony Niven – Broker Transfers Team Manager

Home - Southampton

Shaun Law – Household Operations Manager

Ranjit Dawson – Broker Transfers Team Manager

operational capability
Operational Capability

Operating Hours: (Motor)

Monday to Friday 8am to 8pm

Saturday 9am to 5pm

Sunday 9am to 5pm

Agreed Service Levels

An agreed SLA will be in place to ensure a satisfactory service is provided to clients

Claims Handling

24 hours a day / 365 days a year accident / assistance help lines

Accredited to ISO 9002 Quality Standard

Post repair quality inspections

operational capability8
Operational Capability

Operating Hours: (Household)

Monday to Friday 8am to 6pm

Saturday 9am to 1pm

Agreed Service Levels

An agreed SLA will be in place to ensure a satisfactory service is provided to clients

Claims Handling

24 hours a day / 365 days a year accident / assistance help lines

Post repair quality inspections

transfer features
Transfer Features

Price Guarantee

We will guarantee to offer your clients the best price of

last year’s paid premium

this year’s invited renewal premium from holding Insurer

Cover

We look to provide the client with similar cover

VIP Facility

- Where connected business is identified this is handled by a dedicated VIP team who are experienced brokers and recognise the importance of this business to the broker

Data Transfer Process

- Dedicated teams skilled in dealing with the transfer of customer’s data

Single Policy Wording

- Crystal Mark for Plain English

motor insurance
Motor Insurance

Selection of Special Features

New car replacement for cars in first year of registration where damage exceeds 50% of its original purchase price *

Legal advice/assistance up to £50,000 (including personal injury) following accidents in the UK

24 hour Accident Helpline

Courtesy cars are arranged free of charge wherever possible, when our approved repairers are used *

The policy provides cover for the insured vehicle within the European Union and certain other countries for up to sixty days at any one time

Premium Protection Insurance is available

*Available with Comprehensive Cover only

home insurance
Home Insurance

Selection of Special Features

Contents and Buildings Insurance cover available

Loss/Theft of House Keys – cover up to £500

Fridge and Freezer contents – cover up to £500

14 day money back guarantee , provided no claims have been made

24 hour Claims Helpline service

Buildings Insurance is accepted by leading Building Societies and Financial Institutions

24 hour Legal Advice/Home Emergency and Replacement Glass service

Contents Insurance includes replacement on 'New for Old' basis

Automatic extra cover is provided at Christmas and for family weddings

Family Legal Protection available - up to £25,000 of cover

managing the business
Managing the Business

Management information

On a monthly basis, the following information is available:

Commission statement

Inclusive of new and renewed business, including all mid term adjustments and will be accompanied by commission payment

Management information (available upon request)

Number of new quotations

Number of new policies

Conversion rate

Renewals offered

Renewals accepted

Retention rate

transfer process
Transfer Process

The client data is entered on to our system. We will arrange for collection of the data approximately 42 days prior to renewal

Clients are provided with a quotation 24 days prior to renewal

We make telephone contact following this letter to introduce ourselves and explain the changes to your clients, at the same time we try to secure conversion

A reminder letter is sent 7 days prior to renewal

Any clients that have not accepted 5-7 days prior to renewal are contacted again by telephone (a minimum of 3 attempts are made to contact the client at different times of the day)

Policies are issued normally within 3 working days

the benefits to the broker
The Benefits to the Broker

Frees up time and resources to focus on higher margin business

Significant saving in time and costs

High conversion and retention rates resulting from price guarantees

On-going revenue stream without the overheads

Enhanced commissions to BIBA members payable for the life of the policy

Facility for new business off-line and on-line

Working with a partner with modern systems and processes and over 40 years experience

Account Management Team, regular management information and reviews

Clients maintain a high level of service

Capability to offer Motor and Home Affinity Schemes for Broker’s larger connections

the proposition
The Proposition

A complete Personal Lines Administration Service

We reduce your costs by quoting and re-quoting new business and renewals, handling credit control, accounts, MTAs and claims

Flexible to allow you, the broker, to choose which policies to transfer

Facility to produce ongoing new business, on-line and off-line

Unique facility to handle VIP business

A branded telephone service with dedicated individual telephone numbers*

Branded documentation*

Full web facilities with on-line quotations and completion

Enhanced commission rates payable for the policy life of the client

*Subject to volume

slide16

Excellent track record

  • Equity also has over 25 years experience of dealing with key affinity accounts, providing a broad spectrum of schemes and products:
  • Equity has invested to build a team of people with proven ability to deliver successful affinity business solutions.
  • Key members of the team have also played leading roles in the development of insurance schemes for Barclays Bank, American Express, Egg and Tesco
slide17

Awards

  • Recent awards demonstrate our success and recognition by our peers:
  • Recent awards demonstrate our success and recognition by our peers:
    • British Insurance Awards 2006
    • Young Achiever of the Year - Winner
    • Call Centre Management Association (UK) 2005
    • Team Manager of the Year – Finalist
    • Insurance Age Awards 2004
    • Innovation of the Year – Runner Up
    • Professional Planning Forum Awards 2004
    • Resource Innovation of the Year – Finalist
    • Insurance Times Awards 2004
    • Young Achiever of the Year – Winner
    • Call Centre Management Association (UK) 2003
    • Team Manager of the Year – Winner
    • Insurance Times Awards 2003
    • Large Broker of the Year – Winner
contact details
Contact Details

Broker Development Manager

Steve Young – steve.young@equitygroup.co.uk

Telephone – 01277 206176

Transfers Team Managers:

Motor

Tony Niven – anthony.niven@equitygroup.co.uk

Telephone – 01206 777716

Household

Ranjit Dawson - ranjit.dawson@equitygroup.co.uk

Telephone – 02380 374769