THE BALAJI EDGE
The client needs strong support with regard to claims settlement as
- Solvency Margins of Insurance Companies are under pressure.
- Ambiguity exists in interpreting existing policy terms
- Changes Occur in Policy wordings & Clauses
- Business needs keep on evolving
- Claims under management & with claims paid
- SBIB dedicated claims handling team with 600+ annually
OUR BUSINESS PROCESS
INSURANCE AUDIT
- Expert advice on current Insurance Portfolio.
- Identify the open Exposures.
- Valuation with innovative & Customised Risk Management Solutions.
NEGOTIATION SLECTION OF U/W PLACEMENT OF BUSINESS
- Expertise
- Capacities
- Ratings
- Global Re-Insurer/s
- Price
- Covers & Excess
- Clauses
- Policy Drafting
CLAIMS MANAGEMENT SERVICES
- Expert Hand holding
- Documentation & Claims Processing
- Settlement Assistance
RISK MANAGEMENT SERVICES
⠄Common
⠄Selective
⠄Very Selective
- Loss Minimisation Exercise.
- Thermography.
- Property Valuation.
- Energy Audit/Safety Audit.
- Structural Stability Test.
- Industrial Hygiene Study for Operators-Oxygen Level, Noise, Luminosity etc.
- NAT-CAT Exposure Analysis.
- Emergency preparedness audit
- HAZOP/FMEA/QRA
- Fire Protection System Review (As per international standards like NFPA,FM global etc.)
- Drones Survey
- Portfolio Audit/Benchmarking
- Cyber Exposure Assessment
- Remote monitoring Services
CUSTOMER
SATISFACTION INDEX
To Improve Service experience by understanding Client feedback for every service touchpoint Our Client Satisfaction Index Survey helps us know what our clients say about our services!
Types of Surveys
- Client Review Meeting Survey
- Client Feedback Survey
CSI:
We don’t just hear,
we listen to you
MAJOR CLAIMS HANDLED
| Industry | Type of Policy | Amount of Claim | Cause of Loss |
|---|---|---|---|
| Cotton Industry | Standard Fire & Special Peril Policy | 1.8 Crores | Fire in Plant |
| Cotton Ginning Mill | Standard Fire & Special Peril Policy | 2.0 Crores | STFI Loss In Plant & Stocks |
| Engineering Workshop | Standard Fire & Special Peril Policy | 1.0 Crores | Fire in Plant & Machinery |
| Logistic Company | Vehicle Insurance | 0.6 Crores | Accident of the their Puller |
| Logistic Company | Marine in transit | 0.25 Crores | Accident of their vehicle |
| Logistic Company | Fidelity Guaranteed | 1.25 Crores | Employee Fouad |
| Engineering Workshop | Standard Fire & Special Peril Policy | 1.0 Crores | Fire in Plant & Machinery |
| Storage & Godown | Standard Fire & Special Peril Policy | 13 Crores | Fire in Godown |
DIFFERENCE BETWEEN INSURANCE AGENT & INSURANCE BROKER?
INSURANCE AGENT
Represents insurance company
Appointed by an insurance company
He can work with one insurance company
Recommendation is biased towards insurance company, which he is representing
Most of the time agent has only one company products knowledge
They can't provide the best products as they can't navigate with the multiple companies
Customer have to do ground work if he is dealing with an agent
INSURANCE BROKER
Broker represents client
Appointed by insured / client
Can work with multiple insurance companies
Recommendation is in favour of insured / client
Broker has knowledge of all available products in the market of all Insurance companies
Broker provides minimum 3 quotes with comparitive analysis at best price with best terms available in the market
Broker does all type of ground work for his clients
