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Markel Insurance

05 Mar 2020

How we achieved our five-star rating for underwriting

Just in case you’ve not already heard the good news, we both retained our maximum five-star rating in the ‘Insurance Times five-star rating report Commercial Lines 2019/2020’ and also took the coveted number one spot

Not only this, but we were the only insurer to receive the maximum five-star rating across all five service sectors. With underwriting expertise, flexibility and support all being the kingpin of broker satisfaction levels, we were delighted that one of these service sectors was underwriting.

Markel has long prided itself on its underwriting expertise and experience. All of our underwriters are overseen by the technical line managers for each product line, and each one of those managers has at least 15 years of experience in that particular specialism. It’s this very experience that results in them having both the knowledge and the flexibility to be able to look at risks individually and provide brokers with a personal service.

When you combine this experience and expertise with the fact that we are able to support brokers locally, it’s a recipe for very high broker satisfaction levels.

In the report, referencing Markel’s underwriting, a broker from London said: “Fast and effective turnaround of underwriting referrals. It is a strong and mutually beneficial working relationship, and Markel has a flexible underwriting approach to large, unusual or complex risks. Markel continues to work with us on the continuous improvement and evolution of our proposition.”

A recent example of our flexible underwriting to more complex risks was within our care proposition, Markel Care. A charity struggled finding an insurer to embrace their diverse portfolio of drug and alcohol misuse work. This included detox clinics, rehabilitation programmes, drop-in centres for the homeless, support for prison leavers, and drug and alcohol awareness training (including in schools).

With our underwriting experience and expertise, we were able to create a bespoke programme, catering for the policyholder’s unique requirements. The comprehensive product replaced numerous policies with different insurers covering abuse, breach of professional duty and medical malpractice, minimising the chance of claims falling between insuring clauses.

We’re extremely proud of our underwriting team, who are actively encouraged to meet our clients once on cover to ensure both the broker and client know who they are dealing with. Their role in us being awarded five stars, for underwriting for the second year in a row, has been absolutely invaluable.

To learn more about our expert underwriting services or market leading SME solutions, please get in touch.
 

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Amanda McGarry
Amanda McGarrySenior Business Development Manager - Central
Kate Bootham
Kate BoothamHead of Business Development - North
Michael Petchey
Michael PetcheyHead of Business Development - South
Next article in series

05 Mar 2020

How we achieved our five-star rating for claims

You’ll have no doubt already heard the fantastic news that we both retained our maximum five-star status in the ‘Insurance Times five-star rating report Commercial Lines 2019/2020’ and took the coveted number one spot.