These days, businesses need to be dynamic. They need to evolve and innovate to meet market demands and remain competitive; pivot to react to external factors such as global events, local government, policy and regulation changes or environmental factors such as climate change and natural disasters. All whilst also juggling the practicalities, needs and capabilities of the business.
At Strive Insurance, we understand that changes can often occur at a rapid pace, sometimes without much time to plan; and that insurance isn’t always front of mind for everyone! However, there are some vital reasons why businesses should keep their Insurance Broker updated on their changes to management/business processes.
Whether it's a change of location, expanding your business, the introduction of new activities, or significant shifts in staffing and turnover, timely communication with us is key to ensuring that your insurance coverage remains tailored to your specific needs, helping ensure the long-term success and resilience for your business.
Tailored Coverage: Your insurance coverage is designed to address the specific risks and circumstances associated with your business. Any changes to your operations can impact your ‘risk profile’, and therefore what coverage you have in your insurance policies. By keeping your Insurance Broker updated, we can work together to assess your evolving needs and make necessary adjustments to your coverage, ensuring that you are adequately protected.
Smart Spending: We get it – every dollar counts. By keeping your Broker informed about changes in your business, we can proactively evaluate and optimise your insurance. This ensures that you’re not paying for coverage you no longer need or on the other hand, that you’re adequately covered in areas where your risk exposure has increased.
Staying on the Right Side of the Law: Business operations are subject to various regulations and legal requirements that may vary across locations and industries. Keeping your Insurance Broker in the loop about what’s happening in your business, ensures that your insurance coverage doesn’t just protect you from the unexpected, but also aligns with regulatory requirements, helping you avoid potential legal complications.
Claims Made Easy (or Easier, at least): In the unfortunate event of a claim, having accurate and up-to-date information about your business is crucial for a smooth claims process, minimising downtime, and potential costs/losses to your business. Ensuring your Broker, and therefore the insurance companies, have all the correct information about your business before an incident occurs, also reduces the risk of having a claim declined because the policy didn’t cover something such as a new location or new business activity.
We’re in This Together: Our goal is to be more than just service providers; we are investing in being proactive partners in our clients’ business successes. Open communication enables us to be able to offer valuable insights and personalised recommendations for your business’ risk management strategy.
Your business is unique, and your insurance coverage should be too. Keeping us informed about any changes allows us to tailor your insurance solutions to your evolving needs, ensuring that you are adequately protected against the dynamic risks of today’s business environment.
If you’re contemplating a move, a shift in your business activities or just want to chat about potential changes happening in your business, please don't hesitate to reach out to us. Together, we can navigate the ever-changing landscape and safeguard the future of your business.
