Bespoke personal insurance and risk management solutions

Consumers of all demographics and incomes face various types of risks on a daily basis due to the ever-present factor of uncertainty presented in life. It doesn’t matter how careful you are, disaster can strike at any moment and can take any form.
Insurance is an essential way of managing these risks as it provides individuals and entities the second chance needed to get on with life without having to start all over again.
What happens in a situation where one consumer has more valuables to protect than the average consumer?
These are individuals who face risks ranging from owning high value homes in multiple regions, property located in areas prone to catastrophic loss such as coastal property or in flood zones, owning personal aircrafts or luxury yachts to collecting antique, luxury or exotic automobiles as well as serving on boards of organisations.
The cost of replacing such high value assets needs to be protected. That consumer then needs the specialist services of Marsh, the world’s leading insurance broker that specialises in providing bespoke personal insurance and risk management solutions.
“Short-term insurance provides protection for valuable possessions and assets for the day that an unexpected loss or damage to personal belongings occurs,” says Janné van der Walt, a broker in the Marsh Private Clients division based in the Namibian office.
Marsh Private Clients is governed by a philosophy of client service, and this specialist division offers world-class service, expert capabilities and a comprehensive set of solutions designed to provide clients with choice and superior counsel.
It is vital that a broker is able to provide solutions across a broad spectrum of risk. This is due to the complex nature of risk clients may face. Relationships with key stakeholders such as financial advisors, attorneys and security companies play a crucial role in a broker’s ability to leverage that partnership in assisting clients obtain the most favourable outcome should they submit a claim.
Van der Walt, who has been in the short term insurance field for 16 years, advises clients who are in the market for this type of insurance to consider product features. This refers to the cover provided, optional covers available, exclusions, excess on claims (first amount payable) as well as cash back and affordable premiums.
“These are some of the factors clients need to consider when purchasing this type of insurance cover,” she says, adding that: “The cash back facility must be a bonus and not the reason you purchase short-term insurance.”
Marsh has dedicated professionals and resources with the knowledge and capabilities to provide client advocacy and unbiased advice at all points of the client relationship. Overvalued items result in higher premiums and disputed claims, while undervalued items mean financial loss.
This is why product knowledge that keeps abreast of market trends, the ability to accurately identify clients’ needs and high standards of integrity are some of the traits that define the service clients experience at Marsh.
The risk advisors engage in ongoing training programmes uniquely developed to ensure Marsh delivers unique, insightful solutions to clients.
“Our personal risk advisors build lasting relationships by getting to know the client and understanding their lifestyle. Our team works with our clients and their trusted advisers to provide insurance solutions that eliminate gaps or overlaps in insurance cover, reduce administration and leverage the client’s combined insurance premium spend to achieve the most favourable terms possible,” Van der Walt concludes.