Ridgeway Brokers
Policy wordings read and compared in one pass
A comparison step that lifts limits, excesses and endorsements from policy wordings into one table the broker signs off.
Ridgeway Brokers · Insurance · independent commercial broker, 22 staff, about 1,100 policies for trades and small manufacturers
9,200
Documents processed to date
18 min
Saved on the average quote
3
Insurers compared side by side
Challenge
Ridgeway arranges commercial cover for electricians, builders, joiners and small manufacturers. Before every renewal, a broker read the current wording and the quotes from up to three insurers line by line, copying limits, excesses and endorsements into a spreadsheet.
A single policy pack can run to eighty pages, and the details a client cares about are rarely in the same place twice. The work was slow, hard for a colleague to check, and one missed endorsement could leave a client with less cover than they thought they had.
Approach
Agree the fields. With two senior brokers we listed the forty or so fields that decide a comparison, such as the public liability limit, the excess per claim and any exclusion for hot works.
Extract and line up. Each wording and quote is read, the agreed fields are lifted out with a page reference, and the three insurers are placed side by side in a single comparison table.
Keep the broker in charge. Differences and missing fields are highlighted, and nothing reaches the client until a broker has checked the table and signed it off. We piloted on twenty renewals before the whole team used it.
Result
The comparison table is now the starting point for every renewal conversation. Brokers spend their time on the differences that matter rather than searching for them, and each recommendation comes with a clear record of where every figure was found.
Every value in the table links back to the page and clause it came from
Missing or unusual endorsements are flagged before the broker starts reading
A second broker can check a comparison in minutes instead of rereading the whole pack
I still read the clauses that matter, but I no longer read eighty pages to find them. The table shows me where the insurers differ, and I can point the client to the exact wording.
Daniel Okafor
Commercial Account Director, Ridgeway Brokers
Have a process in mind?
Send a short description of the work and we will tell you whether it is a good fit.