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What does an insurance risk adviser do?

  • Adroit Insurance and Risk
  • November 15, 2016

You know you need insurance, whether it’s for personal or business purposes. It’s a fact of life – you simply cannot predict what’s going to happen or eliminate all risk. But going to an insurance provider on your own and wading through all of the available products can be daunting.

“Insurance policies are generally written by lawyers, who are trying to cover all bases and all situations which can become very long winded and confusing for the average person to read. I’ve worked in the industry for 30 years and still know people who don’t completely understand policies, so no average consumer would stand a chance,” says Albury/Wodonga Branch Manager Michael Myers. An insurance risk adviser takes on this challenge for you, by finding tailored policies and packages for your needs.

An insurance risk adviser can help in many ways. Aside from ensuring your policy is specifically designed for your needs, a risk adviser can help you assess what those needs and risks are, assist you with insurance documentation and act as an agent on your behalf through any claim settlements made under your insurance – just to name a few benefits.

Why should I use an insurance risk adviser?

As insurance risk advisers have access to a broad spectrum of policies and packages and deal with a range of insurance providers directly, sometimes risk advisers can access policies you may not otherwise be able to find. Even without that access there are a huge number of policies out there to choose from, which can be difficult to sort through on your own.

Using a risk adviser means having someone on your side to do the hard work for you, saving yourself valuable time. They will assess your needs and risks, then find the appropriate packages for those needs and present them to you. They will walk you through the finer details, making sure you understand everything you will be covered for. While your insurance policy certainly isn’t something you want to cut corners on, a risk adviser can help make sure you have the best possible rates without compromising any coverage.

How is using a risk adviser different than going to different providers myself?

Sure, you could visit different providers on your own and evaluate the different packages presented to you. However, that’s going to take a lot of time and effort on your part. A risk adviser knows these products already, and will be able to go through them quickly while ensuring you aren’t missing out on any crucial coverage.

Alongside that, the biggest advantage to having a risk adviser on your side is the ongoing relationship you’ll develop. Periodically, you and your risk adviser will be able to hold policy ‘health checks’ to make sure your policies are still meeting the needs you had initially.

Damon Edwards, the general manager of our Ballarat location puts it like this, “Risks evolve around changing society and changing workplaces, and so too should the insurance packages. It’s a common misconception that insurance policies are something you just set and forget – this is something you should constantly be reviewing in conjunction with your broker.”

In short, using a risk adviser means having someone in your corner who knows your risks and coverage when you need them to.

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