The Prudential Approach
Prudential’s approach is derived from its history of being customer-centric, deploying our expertise to their maximum advantage.
Our team’s years of experience enable us to help explore critical questions depicted in illustration below:
Prudential reviews exposure details, meets relevant people in prospect’s organization, asks them questions they may or may not have considered previously to further improve existing cover, if any. Almost every client is different in some ways. By asking questions, we arrive at what is of utmost relevance to a particular exposure. E.g. it could be:
- Identifying exposure gaps in client’s / prospect’s existing protective net
- Improvement in quality of an existing coverage element
Once enough is known about a risk, we use our knowledge of products and markets to customize a program. This involves meeting various insurers and working closely with them on plan design. In process of having economically viable programs developed, Prudential may look at:
If it’s a Health exposure:
- Claims history over 3-5 years and how it relates to available limits and population demographics
- General Conditions / Restrictions – whether they are too severe and should not be used on a particular client’s risks
If it’s a Property exposure:
- Deductibles – whether they are too high, or could wording be amended slightly to broaden cover
- Limits – whether they are too low, or are their unnecessary sub-limits that nullify effect of otherwise high aggregate limit
If it’s a Liability exposure:
- Surrounding risks as well as environmental trends potentially affecting client
- Internal control features that could mitigate risk
If it’s a Marine exposure, amongst other elements we evaluate general and client-specific claims experience in that particular marine category.
Prudential’s value creation continues all the way from initial stages to the time when claims occur anytime during the year. We use our knowledge of similar claims to make a case for securing client’s interests the aim being to stand by clients, support them in every possible manner, and ensure a fair and prompt settlement.