They asked us from the mutual company of owners to escribieramos an article for its e-newsletter focused on our vision of the bouquet of communities from our point of view of brokers and our relationship with the administrators of estates. As you know Brokalia.com it is one of our most successful projects and we wanted to highlight the figure of the administrator of estates as a key factor in this success.
Until few years ago, our relationship as insurance brokers with multiple communities branch was almost exclusively in the demands that we we received directly in our offices by the Presidents of turn of the communities. This did not give us a positive vision of this branch, firstly because we we received a lot of requests for quote which, in a much higher than our usual average percentage, not turned in recruitment and, secondly and more importantlygiven the fact that the half-life of these policies not reached almost two annuities, something very profitable for the company and the broker.
That volatility in the duration of the contracts was probably motivated because thing had a new President of community during its annual mandate was reviewing multirisk into force policy and change it to a new company, bringing to auction among the different alternatives of recruitment in the marketwithout very in-depth analysis if the behaviour of the company or the brokerage in the care of the incident had been correct. It was because of trying to lower raw material or to facilitate the operation to a known.
This had generated in our mind, with the passage of time, an idea that the marketing of this branch was not too profitable for our business, so we not made special efforts to increase our portfolio, while, as it is known, the multirisk of communities is a type of insurance policy that combines the features of having an average premium and a cadre of high commissioning.
Join all the above that the processing of claims is very complicated in many occasions, well because required policy most of it covering or, as happens in many cases, because an incident affecting several neighbors was hardly coordinable company, runner, President and adversely affected.
This perception of the industry radically changed a few years ago when Brokalia.com since we started to specialize in the multiple communities branch, providing services for brokerage of insurance through a close collaboration with the administrators of estates. From the outset, we sense that the situation was completely different in each and every one of the processes that go since that was initiated contact with the request of a project up (if necessary) opening and processing a case of accidents.
This way, traveled with the administrator of estates and, of course, to the company, we could see (always from our perspective) that the administered, which is the most important in this equation, feels with a triple protection and that it has 3 figures to ensure the interest of the property that is found.
This triple protection begins with the administrator of estates in the first place, which is the figure who is fully aware of the property and ensuring that it is kept in good condition. It is not only his work to communicate an incident when it happened but that it is able to predict future failures and recommend maintenance which will prevent possible incidents. Our experience tells us that the managed communities claim frequency is lower due, in large part to this preventive work.
Secondly, the broker, which has analyzed the risk to ensure is and recommended policy and company better able to respond in case of sinister. The corridor sailing to avoid the infraseguro, by the choice of a good Pack of guarantees and insured limits and tell the administrator what type of coverage is going to hire and, in due course, accompany and advise in the communication and processing of the part of sinister.
And, finally, the insurance company, which must comply with all what has been agreed in the contract and that we have to say that, in General, it has improved much in the processes that allow closed incident records in a satisfactory way for the parties involved.
Is, therefore, for us the figure of the steward the link key better behind the chain that includes company, broker and customer, and will do well the companies if they have with them wherever they pose new productsguarantees and services. Adapt to your demands will improve their fidelity, this increasingly complex concept of safeguarding in the current economic situation.
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