With a maze of insurers, brokers and agents, our market today is seeing cut-throat competition, price wars and the existence of unskilled practices and unprofessional conduct. To add to this competition pool, we are now seeing insurance being sold through banks, all resulting in an overcrowded and fragmented insurance market with a lack of skilled staff and expertise. Rather than scouring the market to find the best coverage, the best price or aiding clients towards a proper acclimatization with elements of the Insurance package available through a given policy, most intermediaries provide no tangible value and are focused on being commissioned sales agents, the majority of which possess little or no real insurance knowledge or experience.

In principal, brokers are required to clearly explain the cover provided by the insurance contract, its limitations, exclusions and warranties. It is implicit that brokers must have exhaustive knowledge of the policy wording and the reasons why a particular insurer and policy were recommended over others.

We have witnessed the financial distress and expensive failures of businesses that did not survive disasters due to the fact that they did not seek reliable insurance advice or weren’t properly covered. We have also observed the clients’ lowest-bid approach that proves to be very costly at the times of claims, since those low prices stem from coverage limitations that clients are not made fully aware of.

We believe that the most successful broker relationships are family-like business partnerships, established in an environment of proficiency, open communication and mutual trust, which will simultaneously build an edge and defense against competition.

We are participating in the race to win the confidence of customers by becoming proactive and, in effect, a trusted advisor. It is with this notion that Edge Insurance Brokers was created to close the ‘value gap’ between what the mainstream traditional brokers provide and what the clients need.