Our approach: Policy broking

We use our market intelligence and industry partnerships to ensure you and your staff get the right coverage at the best price. The ‘Policy Broking’ process aims to keep you in the loop while we explore your group medical insurance options and lock in a great deal.

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Broker Framework

Think of this process as both a review of your current group insurance plan, and either a benchmarking or tender to ensure you’re still getting the best deal available. If you are securing coverage for the first time, the process below follows the same steps.

Pacific Prime’s expert advisors will be with you every step of the way so you’re never in the dark about what to expect from our policy broking process. Below is a brief overview of what is involved during this process:

  • Insurer selection
  • Request for proposal
  • Evaluation
  • Negotiation
  • Recommendations
  • Plan implementation
  • Contracts

What we do

Each step of our policy broking approach is done to better inform you about insurance options. Knowledge is power, and we'll use ours to provide you with the best plans from many trusted global insurers. This is the Pacific Prime difference.

Insurer selection

Insurer selection

We use our in-depth market intelligence to select a list of appropriate insurers for your needs and region. You can trust in our remarketing process, as we always ensure we’re talking to the right insurers.

Request for proposal

Request for proposal

Also known as the “tender process”, an RFP ensures transparent and equitable evaluation of all insurance options in a timely manner. Our insurance partners are asked the same questions and given the opportunity to ask questions and gather data to deliver you their best proposal.

Evaluation

Evaluation

Pacific Prime will present to you an evaluation of the insurance solutions on offer; including details on cost assessments and the less tangible elements of service and claims. We want you to have total awareness of the proposals before you.

Negotiation

Negotiation

After evaluations, we’ll go to the table with you to confirm the premiums and service commitments from your selected insurers. Our good standing with many insurers will mean we’ll be able to work out good terms for you and your employees during negotiation rounds.

Recommendations

Recommendations

Pacific Prime believes in impartial, objective analysis of your options to put you, the client, at the centre of our decision making. We work for you, not the insurers, and will often recommend the plan that suits you best - not necessarily the cheapest option available.

Plan implementation

Plan implementation

Supporting your transition to a new insurer is another part of our policy broking process. This includes not just making behind the scenes changes, but creating an open communication line with your staff to ensure they’re aware of what benefits and services your new plan offers.

Contracts

Contracts

With over 17 years of experience with insurance solutions, Pacific Prime will make sure there are no surprises or unexpected problems to come from your insurance contract. Our advisors and client management teams will be available to you at any time to answer any policy related questions.

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Learn more about group insurance

Download our corporate benefits brochure that provides an in-depth look at how we can help you secure the right benefits and insurance for your business.