OUR FUNCTIONS

WHY USE US AS BROKERS?

We at Cresmet Insurance & Reinsurance Brokers are professional advisers who work on behalf of the insured, putting their interest first. We help our clients by identifying the exposures and risks of their businesses as a whole. After understanding the client’s business needs, we are able to determine what needs to be insured, at what levels and which insurance company offers the best competitive rate.

We specialise in all types of insurance, our role is significant as we are the middle persons liaising with the various insurance companies on behalf of our clients. Having worked with many clients over the years catering for all their insurance needs we recognise ourselves as expert in the field of insurance and reinsurance.

Our company has a wealth of knowledge and the ability to negotiate insurance premium deals with a range of insurance companies, taking into consideration te benefits, exclusions and costs of competing policies to enable the best possible outcome for our clients.

Our clients need not pay for our services, our fees are negotiated between ourselves and the insurance companies.

We are regulated by the Insurance Commission which is an independent body that enshrines strict compliance of acting in the best interest of our clients and upholding fairness at all times.

We assist individuals and businesses to design customized insurance and risk management solutions specifically for their needs.

Insurance policies can be technical, therefore, we will explain details of policies and advice (in lay man terms) of any special situations that the insured needs to be aware of.

OUR ROLES AND FUNCTIONS

RESPONSIBILITIES

Research insurance companies' schemes and negotiate with underwriters to find the most suitable insurance policies for clients at the best price in the market.
Ensure that our clients understand the terms and the extent of the cover provided in line with industry regulations.
Comprise detailed information of our clients insurance needs and assess their RIsk profile.
Advise clients on risk management and help to devise new ways to mitigate risks.
Obtaining premium quotation for client’s insurance policies.
Act promptly on instructions from client on all insurance matters.
Foresee and inform clients of their insurance needs, such as policy renewals or amendments.
Arrange specialised insurance cover in complex cases. This may involve preparing reports for insurance underwriters and surveyors and negotiating with insurers.
Make sure clients receive correct policy documents and certificate of insurance on time.
Provide clients with technical advice on updated developments in the insurance market and the law.
Advise clients on whether they need to make a claim on their policies and guide them on how to make a claim.
Monitor the reinsurance scheme to effectively advice clients.

SELECTION OF INSURANCE COMPANY

This process is usually done by us as brokers after due considerations of our clients requirements however, our clients can advice us on their prefered insurance company. Our job is to assess all insurance companies based on criteria such as:

Management structure of the company owners, shareholder etc.
Re-solvency level of the company
Rate of premium whether market rates or under quote.
What type of reinsurance treaties they have (how reputable are their reinsurer)
How they handle claims and how quick are claims settled?

Please note: No additional cost is levied on our clients for using our services.