Insurance Broker Services

Market analysis & consulting • Analysis of capacities, conditions, and trends in the relevant insurance sectors • Regular information on market and product developments Risk management and placement • Ongoing systematic identification, recording, measurement, analysis, and evaluation of the client's existing and new risks • Benchmarking against industry standards • Continuous review of over-, under-, or double insurance • Ensuring optimal, seamless, up-to-date, and internationally consistent insurance coverage for all business risks, provided it is economically justifiable and insurable • Ongoing analysis of the client's existing insurance coverage and insurance needs, as well as proactive advice on updating and realigning the insurance concept, including the examination of alternative coverage concepts and further optimization potentials. This takes into account changing risk and market conditions, claims experience, contractual liability agreements, appropriate deductibles, and innovative contract models. • Planning and execution of national and international tenders for insurance coverage, including the preparation of all necessary tender documents, provision of risk information, and formulation of wording for insurers. This includes both EU-wide and non-EU-wide tenders for insurance contracts • Joint determination of preferred insurance markets • Recommendation for insurer selection • Evaluation of offers and preparation of a decision proposal • Placement of the coverage concept agreed upon with the client • Documentation of all consulting and tender steps • Conducting annual strategy workshops and insurance-related training • In the relevant sectors, the broker performs the following tasks: o Conducting risk dialogues with insurers o Sum insured reporting and sum insured recording for all policies, including consistency checks between master and local coverages o Organization and execution of risk site inspections, including follow-up of recommendations, report review, and documentation. o Advice on insurance requirements for fire protection and safety concepts, as well as regulatory requirements. o Risk analysis of critical locations o Coordination of cross-sectoral interfaces Contract management • Ongoing management of insurance contracts (policies) including all payment transactions (incl. premium allocation overviews, declarations, preparation of premium invoices and premium collection) in coordination with the client. • Policymaking, review, and ongoing optimization of insurance conditions, as well as development of individual conditions, where possible • Complete documentation and filing of all contracts • Creation and maintenance of insurance overviews, cover notes, insurance certificates/confirmations, and an insurance manual • Coordination of international insurance programs and ensuring consistency between master and local policies • Technical advice on insurance coverage and insurance clauses in contracts, including answering insurance questions and project-related comments; insurance-related project advice, especially for M&A projects, as well as support for 1-2 construction projects from project development to project implementation, including tendering for Construction All Risk insurance within the three-year contract period (no legal advice). Claims management • Support and coordination of claims, including large and serial claims • Case-specific review of existing insurance coverage and coordination of necessary immediate measures • Organization and support of necessary claims inspections • Timely information/notification to the insurer • Insurance law advice in negotiations with insurers, authorities, and the press • Support in the identification and recording of all claim-related and reimbursable costs • Advice on the selection of suitable experts • Continuous support in negotiations with insurers and experts and representation of the client's interests towards the insurer regarding liability for compensation • Request for appropriate advance payments • Support for lawyers in the preparation of judicial and extrajudicial disputes • Claims settlement including payment transaction processing • Preparation of claims reports and management reports (KPIs) • Systematic identification of claims drivers/causes and derivation of measures to reduce the claims ratio Reporting and compliance • Provision of a broker portal or comparable digital tools for managing policies, coverage overviews, claims statistics, and analyses. • Regular qualitative and quantitative reporting to the client, including jointly defined KPIs, savings/optimization potential, claims developments, and current market trends. • Ensuring compliance with all legal requirements and guidelines. • Preparation of board reports and support for other specific reports, e.g., on environmental risks, cyber exposures, or management liability risks, if relevant Multi-broker coordination: Conducting joint, regular reviews to optimize the overall portfolio and to avoid coverage gaps or overlaps in servicing