| KBS
is a professional broker and risk advisory service provider specializing
mainly in the following:
a)
Risk Management Advisory Services
For
as long as a commercial enterprise is in operation it faces a myriad of
risks which threaten the very existence of the business.
Generally “risk” may be defined as uncertainty as to loss, or
the chance of loss.
As
Risk Advisory Service Provider we will, after analysis of our client’s
corporate systems, address ourselves for the clients benefit to the
following functions:
-
recognizing the client’s exposure to loss, and make them aware of
the possibility of each type of loss
-
estimating the following frequency and size of loss, i.e. to
estimate the probability of loss from various sources
-
helping the client decide the best and most economic method of
handling the risk of loss, whether it be by assumption, avoidance, self
insurance, reduction of hazards, transfer, commercial insurance or some
combination of these methods.
Administering the programmes of risk
management including the tasks of constant revaluation of the programmes,
record keeping, etc
The
risk management function is a key tool in strategic management which most corporate
entities will not have engaged the skills to perform.
KBS offers this service at no cost to its clients.
b)
Insurance Placement
At
no cost to our client we put our experience and expertise to work in a
process which involves
-
Obtaining premium and scope of cover indications from insurance
companies who provide the type of cover required by a client
-
Evaluating the quotations received from the insurance companies to
ascertain which insurer is offering the widest scope of cover at the
lowest/best price (premium)
-
Recommending to our client which insurance company is more suitable
on the basis, not only of the scope of cover and price, but the solvency
of the company, their claim settlement policy and credit policy with
regard to premium payment. Where
our client has no clear cut choice, we will offer alternatives
highlighting he strengths and weakness of each of the insurers and why we
consider a particular one most suitable.
-
Negotiation and binding/placement – when our client selects an
insurer or agrees with our recommendation we the proceed to negotiate for
a review at the rate and payment terms (where premium payable is
substantial) to the level where our client is satisfied they have a fair
deal. We thereafter commit
the insurer to cover by finalizing documentation. (invoices and policy
documents) which are delivered to the client.
c)
Claim Settlement Service
Insurance
clients are usually dissatisfied with insurers on account of the later
delivery of compensation for a loss or damage incurred, the bureaucratic
process, paperwork demanded by insurers etc.
An efficient broker, such as we are, with our extensive knowledge of the
business will cushion this negative impact by mobilizing all required
documents or information required by the insurer in one instance from the
clients to insure that the claim settlement process does not get hitched
to lack of information and documentation.
We are vividly conscious that this is the stage at which the clients
decide whether they have a worthwhile insurance policy with a worthy
insurance company, i.e. the litmus test of insurance protection by making
the process as free of hassle and frustration as possible.
We do this by exerting unrelenting pressure on insurance companies
to honour their contractual obligations timely.
We do not rest until a settlement proposal has been accepted by our
client and insurer’s cheques is delivered and accepted.
Back to Top
|
