At a glance
- Zurich's Major Customer Proposition is based on the three pillars of product, claims service and risk management support, which have been so successful in previous years
Zurich has established a reputation as a major player in the construction segment with its ability to provide propositions for the vast majority of construction companies and contractors, irrespective of their size or trade.
Zurich’s propositions have been designed to specifically meet the needs of construction customers, reflecting the size and buying behaviours of this industry sector. Tradesmen, SMEs, corporate and major customers are all able to benefit from tailored construction specific products.
The latest proposition to undergo a refresh is the Major Customer Proposition. The basis of the proposition is based on the three pillars of product, claims service and risk management support, which has been so successful in previous years.
However, the wordings for all lines of business have been enhanced and now dovetail to ensure that there are no gaps or overlap in the insurance programme. There is an advantage in having all lines of business with a single insurer, and it enables the insurer to take a view from a customer profitability perspective. Rebate clauses across all lines of business reward customers for superior performance.
Managing claims and expectations
Claims service is critical and all major customers will benefit from dedicated Claims Account Managers who act as the interface between claims, brokers and customers. This helps manage a client’s overall claims experience. Trends can be identified early and action taken to mitigate the risks. Zurich’s specialist claims teams are experts in handling the complexities of construction claims.
The need to contain costs is important for any business but in an industry where margins have been eroded in the current economic climate, construction companies are looking to their broker and insurer for more support.
But with the continued pressure on claims costs, it is essential businesses have information and assistance in order to help them to control their own destiny. This is where the risk management element of the proposition can support brokers and customers. Specifically designed for the industry, the support is focused on claims defensibility, process controls, contractual conditions and managing the supply chain.
Accessing decision makers matters
Competitive premiums and comprehensive wordings are only part of the equation. It is the quality of the dedicated construction underwriters and claims teams that make the difference. Recent changes have been made to ensure that brokers can access these decision makers more easily. Expert construction underwriters are also now located at each of the local branch locations.
Zurich values long-term relationships, and by working with brokers, can manage premiums over a longer period of time. This helps companies plan for the future and develop mutual understanding. Zurich believes brokers and customers also recognise the longer term benefits of stability and security of the insurer.