“ Brokers understand their customers’ individual needs ”
Brokers can now consider a wider range of options. Currently, over 30 leading SME brokers are already using the service to ensure they are sourcing the appropriate level of building insurance cover for clients. BCIS is currently delivering over 20,000 rebuilding costs to the insurance market on a daily basis. Independent insurance broker, Heath Lambert Insurance Services, has noticed a considerable enhancement in its rebuilding calculation process since using the Calculator, as broking manager David Lindsay testifies: “We identified a requirement for a rebuilding costs calculator, following feedback from our customers, many who were unsure about their rebuild costs. Following a search of the market, we identified that BCIS
could meet the needs of our business, in providing an accurate rebuilding cost for our customers. Having used the calculator for several months, we are very satisfied with the accuracy of the figures produced and find this an extremely useful sales tool.”
The next step is a commitment to investment in further innovative product development directly aligned to the insurance industry’s needs. Strong relationships with insurers have been, and continue to be, built and provide valuable insight in to the evolving needs of the insurance industry on a regular basis.
Customers choose to work with brokers for the services and added value that they can provide. Adopting practical, cost effective tools that help
The BCIS Rebuilding Cost Calculator
Brokers can utilise the Building Cost Information Service (BCIS) Rebuilding Cost Calculator to provide sound rebuilding costs, and provide customers with accurate premiums.
Available at a price per calculation, the Rebuilding Cost Calculator aims at being an instant, online, easy to use tool designed to provide brokers with the accurate rebuilding cost of a residential property, given minimum property details and without the need for floor area.
The service also mitigates risk to brokers, providing a report for file records and supporting TCF guidelines by ensuring the client purchases the right level of cover at the right price. The Calculator is available to brokers at £220 per annum.
BCIS was established in 1961 by the Royal Institution of Chartered Surveyors (RICS) to provide comparative building cost information as a leading independent expert on UK residential building costs. A consultant to the ABI for 30 years, BCIS recently developed its dataset to provide a range of bespoke risk solutions specifically for the insurance industry.
See www.bcis.co.uk/risksolutions
customers make genuine savings and receive the right cover for their insurance needs is a fast and effective way of creating a business differentiation and stand
out in a crowded market of direct insurers, aggregators and brokers all jostling for pole position. It would seem to be an intelligent investment.
insurancepeople
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APRIL 2010 insurancepeople 15
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