Brokers often face the need to balance fast and efficient trading, against regulation and increasing costs.
Therefore, selecting independently reviewed and scored insurance products is vital. This helps when demonstrating the product offered to the regulator. You need to be able to demonstrate it's of quality and fair value to your clients.
Organisations such as Defaqto independently assess and score products. The scores they give can help support your placement decisions.
Defaqto look at product documentation and policy wordings. This helps them to establish the details and differences between products. They look at subtle differences in cover that could make a difference when it comes to making a claim.
At RSA, we've done the work for you. We've invested time working with Defaqto, and as a result, 10 of our e-trade products are now 5-Star rated. We're constantly striving to offer you and your clients great quality commercial insurance products.
So, why choose a Defaqto Star-rated product?
Quality assured products
Defaqto assess our e-traded products with smaller business customer's needs in mind. This ensures they have the necessary quality and breadth of wordings. This helps to bring great peace-of-mind to those that need it.
Save time
With so many insurance products to compare, finding the right one can take time. Brokers can be confident in the calibre of our products when selecting one. This will help save time, as well as give peace of mind.
Ensures fair value
We understand brokers have product governance obligations and fair value assessments to consider. Selecting a Defaqto Star-rated product will help benchmark against the wider market. This will really help to establish the value and quality to your customers.
Relevant and future proof
Defaqto’s ratings are analysed daily and updated every year on 1 February. If there's a product change as the market develops, it will be re-analysed and assessed.