After a long period of low insurance rates costs are now rocketing across all lines. The timing could not be worse for hard-hit businesses, but all too often brokers will tell you ‘there’s nothing they can do’ because the market is terrible this year.
We believe that policyholders deserve better and so we developed a unique approach to buying insurance. As a result, on some recent projects we have been able to save our clients between 20% and 50% against the incumbent broker’s estimates.
- We run unique tenders to drive real competition quickly, focusing fully on the two essential matters of price and cover. This avoids slow ‘conceptual’ tenders and accesses the entire insurance market while putting incumbent brokers under immediate pressure to deliver
- We analyse your risks – working from the ground up rather than starting with standardised frameworks
- We draft our own wordings so that you know your cover will perform as you expect
- We negotiate broker agreements (TOBAs) to hold them accountable
- Mactavish manages the whole process from start to finish, allowing you to get on with protecting and growing your business
Mactavish was engaged by a FTSE 250 company with a brief to manage costs while improving the quality and reliability of its cover.
The incumbent broker had told the client that its premiums would increase significantly at renewal and that they would have to move to a standard broker/insurer wording that would not take into account the changes they had previously negotiated.
Mactavish ran a written lines tender creating head-to-head competition between two brokers. The result was a 33% premium saving against the incumbent brokers offer and acceptance of a range of bespoke policy changes that left the client better protected.
On one policy alone, the Mactavish-amended wording was better than the broker/insurer wording on 20 points of coverage and law.
Who we work with
Our clients range from FTSE100 companies to SMEs and cover every sector from manufacturing to media. We build long lasting relationships based on trust and tangible results.
Make the change
Use the form below to contact our team and start driving a better outcome from the insurance market.