Bankers Insurance re-engineered the insurance process from start to finish. We broke the mold on the flawed “Quote my coverage at renewal” cycle and instead approach the subject as if manufacturing a product. Read on to learn how our product stands out from the crowd.
The first step in a design process is to define the product requirements. In insurance terms, those are your business risks. Often, insurance agents put together packages and “tailor” them to manufacturing businesses with add-on coverages. However, this approach is shortsighted as it never fully defines product requirements.
To address this shortcoming, our manufacturers insurance program begins well ahead of renewal and includes a thorough analysis to determine what risks are present in your business, whether sourcing raw materials, the use of your final product, or anywhere in between. For example, for a new client that imports raw materials, we discovered several shipping contracts were FOB Shipping, whereas others were FOB Destination. The new client had no ocean cargo coverage and was unknowingly self-insuring hundreds of thousands of dollars for each shipment coming from China, a risk we were easily able to cover for a few thousand dollars a year.
But a thorough risk analysis is only one of our product differentiators. We promised to keep these short, so until next time, for more information, visit manufacturers insurance. If you have questions or would like to speak with a manufacturing insurance agent, contact us at firstname.lastname@example.org or (800) 541-1419.
Manufacturers Insurance Quote.