Why use a Specialty Broker such as Global Trade Credit Inc?
1. You can access the Broker’s market knowledge
Independent brokers find the best fit for your business by soliciting competitive terms and pricing from the broad insurance market. By regularly doing business with various insurance carriers, an independent broker can find you the best combination of:
• Competitive pricing
• Quality of service
• Clear policy wording
• Claims paying reputation
• Insurer capability and capacity
• Policy flexibility and customization
Captive agents/Direct writers on the other hand, can only advise you on the pricing and terms
of the one insurance carrier they represent. The use of an independent broker will compare and
find the best trade credit insurance solution for your company.
2. You will get competitive pricing without increasing the cost
One question that is typically asked – “Is it more costly to purchase a trade credit insurance policy sold through an independent broker than from an insurance carrier that sells directly through its captive agents”? The answer is “NO”.
Insurance carriers either pay an independent broker’s commission or they pay for their own captive sales force. It’s most important that you find the best price, terms, and policy structure to meet your needs as they know they are in a competitive situation, which is what an independent broker will do for you.
3. You can have a knowledgeable Broker service your policy
After a policy is sold, independent brokers continue performing valuable day-to-day services, monitoring the adequacy of your coverage limits and policy terms as market conditions fluctuate, and making sure that your claims are handled fairly. Using an independent broker such as Global Trade Credit is a value-added proposition.