Making Specialist Insurance An Art Form
Discerning collectors of jewellery, watches, art and other valuables tend to shy away from anything that has been mass-produced. T eir approach isn’t always as demanding when it comes to insuring their prized collections, however.
“Most new clients that we meet still insure their collections using off -the-peg policies. T is is creating a potentially huge fi nancial and emotional exposure that they fail to realise.” says James Wasdell, who founded Quantum Underwriting Solutions in 2004. “T is unsophisticated approach to insurance
creates two specifi c issues for collectors of art. Firstly, standard insurance does nothing to ensure the amount of cover remains adequate. T is needs to be done on a periodic basis, utilising specialist advice. Secondly, vital elements of cover such as agreed value and diminution in value following restoration are not included. T is means that when a claim happens it is too late to do anything about it. Having choice is a key requirement when you have a claim and only specialist insurance will give you this.” Quantum doesn’t just insure collections of
jewellery, watches, art and antiques. T ey off er a portfolio solution that can be tailored to cover any number of homes and all of their general contents as well as other collections, including anything from sporting memorabilia
46
waterfrontmagazines.co.uk
to vintage wine. T e same portfolio can also encompass any number of cars ranging from a modern Range Rover or Bentley all the way through to a classic Ferrari. T is approach creates huge time effi ciencies when compared to managing the insurance of each property or car independently. “In 2012, 40% of our new clients came from existing client recommendations and the main reason they tell us they prefer our approach is the ability to insure everything in one place with someone who understands their lifestyle and assets.” T is focussed approach was a cornerstone when Quantum launched in 2004 and remains the same to this day. “Our clients tell us that having one telephone number in their phone that they call whether they are moving house, buying new pieces of art of jewellery or changing their car is extremely useful. T ey also tell us that talking to their own client manager time after time is really appreciated in the modern era of call centres, many of which are overseas,” James added. Another key benefi t that Quantum off ers
clients is introductions to a network of vetted professionals. T ese cover ancillary services such as valuation, curatorial and risk management that are absolutely relevant to the ownership and enjoyment of valuable possessions. “It’s one thing recommending a client should improve their security, value their art or conduct background checks on their staff , but the ability to back that up with a recommended partner really takes service to the next level,” said James. It seems that there is no end to the services that Quantum clients now demand. In recent months they have received requests from clients needing help installing a panic room and having a new home swept for bugs. T ere also appears to be a growing interest in personal kidnap, ransom and extortion insurance which is starting to emerge.
Contact Quantum on 0870 402 1900,
review@quantumplc.com or visit
www.quantumplc.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68