BONUS INSIGHTS: ‘RISK’ WITH WAYNE THOMPSON
As part of our “3 Insights" digital series, we were lucky to be joined by Risk Engineering Lead Customer Experience National Underwriting Wayne Thompson.
An incredibly respected voice in the industry, Wayne shared his thoughts on why Vero surveys broker clients, how Vero risk specialists alleviate concerns and where to best obtain technical risk management advice. We also spoke with Wayne about the Vero Risk Survey and specifically how it benefits both the client and the broker.
“It’s an opportunity to connect with your client, to understand their business and their efforts in risk control”
Why do you believe the Vero Risk Survey benefits clients? Could you elaborate?
“There’s an opportunity for the client to improve their understanding of insurance and in consultation with their broker, may identify further opportunities to improve risk control and insurance coverage. Don’t forget this whole process may go a long way to protect the clients deductible. This could prevent them putting their hands in their own pockets before the insurance company steps up following a claim.”
“So in a nutshell, If the client looks after their risks and displays maturity in risk control, they will likely continue to be an insurable risk at a commensurate price. So continue to talk with your broker and Vero and continue to put your best foot forward.”
Furthermore, how would you say the Risk Survey benefits the broker?
“With Vero, you are always invited to come along on the inspection. If not – invite yourself. It’s an opportunity to connect with your client, to understand their business and their efforts in risk control. It’s an opportunity to demonstrate your value as a broker and gain additional insight into your client’s business, the risks and reduction measures to apply to other clients.”
Most importantly for you [brokers], our line of questioning and walking the property floor may identify a further opportunity for insurance coverage, an extension of existing coverage and reaffirm the deductible level. All of which adds significantly to the service you are providing to your client and adds to your own ‘due diligence’ process. You can also support the implementation of our risk improvement recommendations. So don’t be a stranger."
From dissecting the benefits of the Vero Survey, the process of incorporating risk improvement recommendations and the best place to find risk management advice, Wayne was incredibly giving with his time and insights. If you want to watch the full episode of our “3 Insights” discussion with Wayne Thompson, click the video below. And if you have any further questions about the topics discussed, explore our Vero website.
The information is intended to be of a general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it - please make your own enquiries.
