The following is an overview of a concept we created for Lloyd's and which increased our renown as an expert in Financial Lines Insurance.

The concept can be summarized by the keywords “Professional & Reliable”.

Lloyd’s Business
Our company processes all of our Lloyd’s business, motivated by our role as Authorised Lloyd’s Broker in Switzerland. The business is then transferred to our business relations (the Underwriters and Syndicates at Lloyd’s of London) for assessment and quotation.

Why This Type of Insurance?
The main mission of an Insurance Broker is to offer complete protection, analysing risks that the client cannot assume financially and/or personally and providing essential solutions for key Decision-Makers.

If he does not fulfil this role, he is just an insurance salesman.

Getting Our Concept Recognized
From February 1997, our aim was to create a concept recognised by the Underwriters and Syndicates of Lloyd’s:

You cannot imagine the sacrifices and the number of hours worked over the years to reach our goal. We:

Adapt, create, translate, submit, correct, approve, readapt, etc...

We normally work with Swiss Insurance Companies which have all of the necessary documents already finalized and available to be remitted to the broker and/or his client, as well as predefined products and documents that cannot be modified.

Lloyd’s Syndicates
Each syndicate of Lloyd's of London acts as a Direct Insurer, Co-Insurer or Re-Insurer. They propose their own documentation (in English). Two thirds of their business focuses on Anglo-Saxon markets.

However as Pioneers, they accept to cover a broad variety of risks of different sizes.

We invested in a number of processes and documents, in order to offer cutting edge services for very important financial risks, and to provide the highest quality services.

Exclusive Questionnaires Created for Switzerland
We created for each type of cover relating to Financial Lines a unique questionnaire, which had the advantage of being:

• Precise: offering a clear vision of the risk to the underwriter by category;
  
• Complete: providing all necessary information to assess the risk;
  
• In Conformity: meeting the legal requirements of the LCA (Swiss Law on Insurance)
  
• Understandable: avoiding misunderstandings from insurance jargon;
  
• Bilingual: Our clients have access to documents in both French and English, a unique fact in Switzerland.

These benefits are highly valuable to our clients and Underwriters because they:

• Reduce the Underwriters’ costs for administrative procedures
  
• Speed Up the confirmation of acceptance and the issue of the offer and the insurance contract.
  

These questionnaires were approved by all of Lloyd’s Underwriters and Syndicates.

General Insurance Conditions Adapted to the Swiss Market
We also adapted the General Insurance Conditions of our Underwriter-Syndicates at Lloyd’s to the requirements of the Swiss market.

Our main objective was to make these documents transparent and easy to understand. This was a major benefit to the client, the Underwriter-Syndicate and us as an Insurance Broker.

Adaptation: We adapted each wording document, primarily intended for the Anglo-Saxon market, to bring them into conformity with the Swiss legislation and the articles of the LCA.

Creation: We rewrote and completely created certain new texts in order to reinforce or improve the understanding of existing documents.

Translation: We translated all of the new texts into English so that they could be understood and approved by our Underwriter-Syndicate.

Correction: All the French texts submitted by our Underwriter-Syndicate were corrected even though they were originally created by solicitors.

Approval: We rigorously checked all of the texts to ensure the coherence and credibility of the policies. Our Underwriter-Syndicates endorsed all of our suggestions and efforts.

They recognised our professional qualities which brought an added value to their documents to match their high reputations.

Administration of Documents
Our business processes are based on a complete IT system. It allows our management at each stage, from the submission of the risk to be insured to the receipt of an offer as well as the confirmation of the client to the Underwriter in order to issue the contract.

In fact our procedures are identical to those of an Insurance Company, except that the client’s risk exposure is 100% insured by the Underwriter-Syndicates of Lloyd’s in London.

Immediate Risk Cover
Once the cover is accepted, we deliver the insurance contract and the usual relevant documents to our client in three working days.

Our processes provide a solid and flexible way of working, and ensure outstanding performance.

Concluding a contract with Lloyd's requires no less than 23 business operations. This is why we have been obliged to optimise our system to keep our overhead at an acceptable level.

Partners, Clients and Underwriter-Syndicates have repeated their admiration and satisfaction with our organisation methods and performance as well as the quality of our Management. Lloyd's.

As an Insurance Broker , we are proud to have been pioneers in creating a concept for Lloyd’s as well as a website for a complicated domain such as that of Financial Lines Insurance.

Eleven "D's"

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